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This online test contains MCQs about following topics:
Factors of production - Production Function
MCQ's Test For Chapter 7 "Economics Ics Part 1 English Medium Chapter 7 Online Test"
Try The MCQ's Test For Chapter 7 "Economics Ics Part 1 English Medium Chapter 7 Online Test"
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Total Questions20
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Time Allowed30
Economics Ics Part 1 English Medium Chapter 7 Online Test
00:00
Question # 1
Labour is hirable but you cannot hire
Question # 2
Economic goods produced by firms are called
Question # 3
When supply rises more than demand price of the product will.
Question # 4
Given the supply curve, a fall in demand will.
Question # 5
When both demand and supply fall in equal proportions, price of the product will .
Question # 6
Equilibrium price of a product is determined by:
Question # 7
The three broad types of productive resources are
Question # 8
An example of natural resource is
Question # 9
Production in economic means
Question # 10
With a fixed in the market period, if the demand of a product rises, then:
Question # 11
Which of the following is NOT an input
Question # 12
Geographical mobility is not possible for
Question # 13
Land is
Question # 14
When demand rises more than supply price of the product will.
Question # 15
If supply rises more than demand, price of the product will.
Question # 16
The transformation of resources into economic goods and services is called
Question # 17
Natural environment that supports production of goods and services is included in
Question # 18
Productivity of land can be raised by
Question # 19
Land means
Question # 20
The transformation of resources into economic gods and services is
ICS Part 1 Economics Chapter 7 MCQs Test
Top Scorers Of Chapter 7 "Economics Ics Part 1 English Medium Chapter 7 Online Test" MCQ`s Test
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ICS Part 1 Economics Chapter 7 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | Production in economic means |
A. factors of production
B. doing some job
C. output of goods
D. profit
|
| 2 | Economic development of a country requires |
A. skilled lobour
B. diplomacy
C. abundant natural resources
D. a and c of aboce
|
| 3 | If supply rises more than demand, price of the product will. |
A. Fall
B. Rise
C. Not change
D. Change
|
| 4 | Which is true |
A. labour produces land
B. land produces labour
C. labour produces capital
D. capital produces labour
|
| 5 | Land, labour and capital are needed to produce goods. They are collectively called |
A. elements of production
B. factors of production
C. tools of production
D. cost of production
|
| 6 | When supply rises more than demand price of the product will. |
A. Rise
B. Fall
C. Remain unchanged
D. Non of the three
|
| 7 | Economic goods produced by firms are called |
A. productivity
B. innovation
C. technological progress
D. output
|
| 8 | Equilibrium price of a product is determined by: |
A. The gomverment
B. An industrialist
C. Market competition
D. An agriculturist
|
| 9 | Natural environment that supports production of goods and services is included in |
A. labour
B. money
C. capital
D. land
|
| 10 | Given the demand curve, a rise in supply will. |
A. Increase quantity supplied
B. Price will fall
C. Price will rise
D. Both (a) and (b)
|
Test Questions
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