11th class Economics chapter 7 online mcq test with answers for ICS part 1 Economics chapter 7 (Production and Production Function)

Economics Ics Part 1 English Medium Chapter 7 Online Test

Sr. #	Questions	Answers Choice
1	For production of goods we need factors	few 2 4 unlimited
2	The transformation of resources into economic gods and services is	input production entrepreneur market
3	Which of the following factors takes risk, innovates and coordinates	capital labour bank entrepreneur
4	The following is NOTa factor of production	labour entrepreneurship land money
5	Geographical mobility is not possible for	land labour capital wealth
6	Land is	hirable not hirable homogeneous a form of capital
7	Economic goods produced by firms are called	productivity innovation technological progress output
8	The transformation of resources into economic goods and services is called	technical efficiency input production increasing returns
9	Which of the following is correct with respect to resources	Money is a capital good Human skills are a labour input Entrepreneur is part of the labour input Natural resources include human input
10	Which of the following input factor takes risk, innovates and coordinates	capital labour productivity entrepreneur
11	Which of the following is NOT an input	labour entrepreneurship natural resources production
12	Land as used in economics	is a free gift of nature is unlimited in quantity is not hirable excludes oceans
13	Economic development of a country requires	skilled lobour diplomacy abundant natural resources a and c of aboce
14	Land means	sea surface of earth natural forests all natural resources
15	The three broad types of productive resources are	money, profit and interest capital, labour and natural resources labour, stock shares and deposits technology, landl and markets
16	Labour is hirable but you cannot hire	capital land manager entrepreneur

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