7th Chapter

ICS Part 1 Economics Chapter 7 MCQs Test

First Year Economics Chapter 7 Online MCQ Test for 1st Year Economics Chapter 7 (Production and Production Function)

This online test contains MCQs about following topics:

Factors of production - Production Function

ICS Part 1 Economics Chapter 7 Test

Start Chapter 7 Test

First Year Economics Chapter 7 Online MCQ Test for 1st Year Economics Chapter 7 (Production and Production Function)

Sr. # Questions Answers Choice
1 Productivity of land can be raised by
  • A. decreasing farm size
  • B. intensive cultivation
  • C. better marketing
  • D. increasing money supply
2 Land is
  • A. hirable
  • B. not hirable
  • C. homogeneous
  • D. a form of capital
3 Land means
  • A. sea
  • B. surface of earth
  • C. natural forests
  • D. all natural resources
4 Which of the following is correct with respect to resources
  • A. Money is a capital good
  • B. Human skills are a labour input
  • C. Entrepreneur is part of the labour input
  • D. Natural resources include human input
5 Given the supply curve, a fall in demand will.
  • A. Increase equilibrium quantity of the product
  • B. Decrease equilibrium quantity of the product
  • C. Not affect equilibrium quantity
  • D. Not affect equilibrium price
6 When demand rises more than supply price of the product will.
  • A. Rise
  • B. Fall
  • C. Remains unchanged
  • D. None of the three
7 Economic goods produced by firms are called
  • A. productivity
  • B. innovation
  • C. technological progress
  • D. output
8 Which is true
  • A. labour produces land
  • B. land produces labour
  • C. labour produces capital
  • D. capital produces labour
9 Equilibrium price of a product is determined by:
  • A. The gomverment
  • B. An industrialist
  • C. Market competition
  • D. An agriculturist
10 If supply rises more than demand, price of the product will.
  • A. Fall
  • B. Rise
  • C. Not change
  • D. Change

Top Scorers of Economics Ics Part 1 English Medium Chapter 7 Online Test

A

Ajmal Khan

Lahore19 - Apr - 2025

15/20
05 Mins 15 Sec

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