| 1 |
One of the following is not included in the characteristics of labour |
- A. Labour and labourer cannot be separated
- B. Labour can be stored
- C. Labour has limited mobility
- D. Supply of labour is inelastic
|
| 2 |
If quantity supplied changed in response to change in price, is known as: |
- A. Ed
- B. Es
- C. More Elastic
- D. Less Elastic
|
| 3 |
Blessings like air, rain existing on land are included in factor of production |
- A. Labour or human resources
- B. Capital or monetary resources
- C. Land or natural resources
- D. Organisation
|
| 4 |
Number of factors of production is |
- A. One
- B. Two
- C. Three
- D. Four
|
| 5 |
Immortal factor production is |
- A. Land
- B. Labour
- C. Capital
- D. Organization
|
| 6 |
If the rate of change in price and quantity supplied is equal then: |
- A. Es = 0
- B. Es = 1
- C. Es > 1
- D. Es < 1
|
| 7 |
All the factors of production can be hired except |
- A. Land
- B. Labour
- C. Capital
- D. Organization
|
| 8 |
In economics, every mental or physical struggle undertaken for reward, is called |
- A. Land
- B. Labour
- C. Capital
- D. Organization
|
| 9 |
Perfectly inelastic supply curve is: |
- A. Vertical
- B. Rise upward
- C. Horizontal
- D. Fall downward
|
| 10 |
Fourth factor of production is called |
- A. Land
- B. Labour
- C. Capital
- D. Organization
|
