| 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 |
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
|
| 3 |
The factor which is needed to produce goods by the combination of land, labour and capital is called |
- A. Land
- B. Labour
- C. Capital
- D. Organization
|
| 4 |
One of the following is not included in labour |
- A. Teaching of a teacher in a school
- B. Working of a clerk in an office
- C. To follow a case by a lawyer
- D. To look after the child by his mother
|
| 5 |
Mental or physical work undertaken for reward by human being is called |
- A. Land
- B. Labour
- C. Capital
- D. Organization
|
| 6 |
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
|
| 7 |
As factor of production, river and sea are called |
- A. Land
- B. Labour
- C. Capital
- D. Organization
|
| 8 |
River, sea, forests, rain are called |
- A. Land
- B. Labour
- C. Capital
- D. Organization
|
| 9 |
All the factors of production can be hired except |
- A. Land
- B. Labour
- C. Capital
- D. Organization
|
| 10 |
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
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