| 1 |
Causes of shifting in supply curve is: |
- A. Change in technique
- B. Change in cost
- C. Change in tax
- D. All of them
|
| 2 |
If an entrepreneur does service, in economics it is called |
- A. Organization
- B. Discipline
- C. Labour
- D. Wage
|
| 3 |
When supply decreases due to fall in price, it is called: |
- A. Fall in supply
- B. Contraction in supply
- C. Expansion in supply
- D. Rise in supply
|
| 4 |
The most important and basic factor of production is |
- A. Land
- B. Labour
- C. Capital
- D. Organization
|
| 5 |
Free gift of nature is |
- A. Land
- B. Labour
- C. Capital
- D. Organization
|
| 6 |
If 30% change in supply in response to 50% change in price then: |
- A. Es = 0
- B. Es = 1
- C. Es > 1
- D. Es < 1
|
| 7 |
Fourth factor of production is called |
- A. Land
- B. Labour
- C. Capital
- D. Organization
|
| 8 |
When supply increases due to rise price, it is called: |
- A. Fall in supply
- B. Contraction in supply
- C. Expansion in supply
- D. Rise in supply
|
| 9 |
Second factor of production is |
- A. Land
- B. Labour
- C. Capital
- D. Organization
|
| 10 |
All the factors of production can be hired except |
- A. Land
- B. Labour
- C. Capital
- D. Organization
|
