| 1 |
Factor of production which is used to earn more income, is called |
- A. Land
- B. Labour
- C. Capital
- D. Organization
|
| 2 |
Mental or physical work undertaken for reward by human being is called |
- A. Land
- B. Labour
- C. Capital
- D. Organization
|
| 3 |
One of the following is not included in the characteristics of land |
- A. Land is a gift of nature
- B. All the pieces of land are not equal infertility
- C. Productive capacity of land is limited
- D. Supply of land is unlimited
|
| 4 |
Organization means an individual or institution which with optimum factor combination |
- A. Lays foundation of business always earning profit
- B. Lays foundation of business but does not accept the responsibility of profit and loss
- C. Lays foundation of business but accepts the responsibility of profit and loss
- D. Serves as a manger in the business and receives remuneration
|
| 5 |
River, sea, forests, rain are called |
- A. Land
- B. Labour
- C. Capital
- D. Organization
|
| 6 |
Which factor is oldest and basic factor of production |
- A. Land
- B. Labour
- C. Capital
- D. Organization
|
| 7 |
Third factor of production is called |
- A. land
- B. labour
- C. capital
- D. organization
|
| 8 |
If quantity supplied changed in response to change in price, is known as: |
- A. Ed
- B. Es
- C. More Elastic
- D. Less Elastic
|
| 9 |
All the factors of production can be hired except |
- A. Land
- B. Labour
- C. Capital
- D. Organization
|
| 10 |
In case of horizontal supply curve, Es is: |
- A. Mero than unity
- B. Less than unity
- C. Zero
- D. Infinite
|
