| 1 |
One of the following is not called land |
- A. Rain
- B. Mountain
- C. Forests
- D. Mangla Dam
|
| 2 |
In case of horizontal supply curve, Es is: |
- A. Mero than unity
- B. Less than unity
- C. Zero
- D. Infinite
|
| 3 |
If 50% change in supply in response to 50% change in price then: |
- A. Es = 0
- B. Es = 1
- C. Es > 1
- D. Es < 1
|
| 4 |
If price increases but supply remains constant, it is called: |
- A. Fall in supply
- B. Contraction in supply
- C. Expansion in supply
- D. Rise in supply
|
| 5 |
Production of a commodity depends upon four factors of production i.e. land, labour, capital and organization |
- A. According to classical economists
- B. According to Neo classical economists
- C. According to modern economists
- D. According to Austrian school of thought
|
| 6 |
Which factor can not be stored |
- A. Land
- B. Labour
- C. Capital
- D. Organization
|
| 7 |
Number of factors of production is |
- A. One
- B. Two
- C. Three
- D. Four
|
| 8 |
The factor of production which is used to produce more wealth or increase income is called |
- A. Land
- B. Labour
- C. Capital
- D. Organization
|
| 9 |
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
|
| 10 |
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
|
