| 1 |
Marginal land |
- A. is uncultivable land
- B. gets low rent
- C. gets no rent
- D. cannot be sold
|
| 2 |
Risks in the business arise because of |
- A. introduction of the new products
- B. uncertain policy of rival firms
- C. changes in tastes
- D. all the above
|
| 3 |
Profits |
- A. are lower in the long run than in the short run
- B. can be negative
- C. are less in perfect competition than in monopoly
- D. all of the above
|
| 4 |
Profits arise because an entrepreneur |
- A. prepares plan
- B. innovates
- C. lends money
- D. a and b of above
|
| 5 |
These are kinds of rent EXCEPT |
- A. differential rent
- B. scarcity rent
- C. mobility rent
- D. location rent
|
| 6 |
Who introduced the concept of Quasi rent. |
- A. Hicks
- B. Alfred Marshall
- C. Hobson
- D. Robbins
|
| 7 |
The borrower has to pay interest because of |
- A. His poverty
- B. productivity of capital
- C. greediness of capitalist
- D. scarcity of capital
|
| 8 |
The rent which is paid in the short run due to perfectly inelastic supply of a factor is known as. |
- A. Deffertial rent
- B. Economic rent
- C. Quasi rent
- D. Scarcity rent
|
| 9 |
According to Keynes interest is a payment for |
- A. consumer's preference
- B. producer's preference
- C. liquidity preference
- D. state bank's preference
|
| 10 |
The following affect rent EXCEPT |
- A. better location
- B. fertility of land
- C. cleverness of landlords
- D. scarcity of land
|
