11th Class ICom Part 1 Principles of Economics Chapter Wise Online MCQ Test With Answers PDF English Medium

Principles of Economics Icom Part 1 English Medium Online Test

Sr. #	Questions	Answers Choice
1	When average product is maximum, marginal product is	Equal to average product More than average product Less than average product Zero
2	When average product increase, marginal product	Decreases Is zero Is negative Also increases
3	One of the following is not included in the characteristics of labour	Labour and labourer cannot be separated Labour can be stored Labour has limited mobility Supply of labour is inelastic
4	One of the following is not included in labour	Teaching of a teacher in a school Working of a clerk in an office To follow a case by a lawyer To look after the child by his mother
5	One of the following is not included in the characteristics of land	Land is a gift of nature All the pieces of land are not equal infertility Productive capacity of land is limited Supply of land is unlimited
6	One of the following is not called land	Rain Mountain Forests Mangla Dam
7	Production of a commodity depends upon four factors of production i.e. land, labour, capital and organization	According to classical economists According to Neo classical economists According to modern economists According to Austrian school of thought
8	Organization means an individual or institution which with optimum factor combination	Lays foundation of business always earning profit Lays foundation of business but does not accept the responsibility of profit and loss Lays foundation of business but accepts the responsibility of profit and loss Serves as a manger in the business and receives remuneration
9	Blessings like air, rain existing on land are included in factor of production	Labour or human resources Capital or monetary resources Land or natural resources Organisation
10	Tractor, harvester, thrasher etc are the examples of factor of production	Land Labour Capital Organization
11	Fourth factor of production is called	Land Labour Capital Organization
12	Third factor of production is called	land labour capital organization
13	Second factor of production is	Land Labour Capital Organization
14	The most important and basic factor of production is	Land Labour Capital Organization
15	In modern term, factors of production are called	Inputs Productive services Inputs and productive services Production of goods and services

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