| 1 |
Production in economic means |
- A. factors of production
- B. doing some job
- C. output of goods
- D. profit
|
| 2 |
Economic development of a country requires |
- A. skilled lobour
- B. diplomacy
- C. abundant natural resources
- D. a and c of aboce
|
| 3 |
Labour is hirable but you cannot hire |
- A. capital
- B. land
- C. manager
- D. entrepreneur
|
| 4 |
Land, labour and capital are needed to produce goods. They are collectively called |
- A. elements of production
- B. factors of production
- C. tools of production
- D. cost of production
|
| 5 |
Land as used in economics |
- A. is a free gift of nature
- B. is unlimited in quantity
- C. is not hirable
- D. excludes oceans
|
| 6 |
Standard of living of a country can be raised if it increases |
- A. labour force
- B. production
- C. money supply
- D. exports
|
| 7 |
When supply rises more than demand price of the product will. |
- A. Rise
- B. Fall
- C. Remain unchanged
- D. Non of the three
|
| 8 |
For production of goods we need factors |
- A. few
- B. 2
- C. 4
- D. unlimited
|
| 9 |
Geographical mobility is not possible for |
- A. land
- B. labour
- C. capital
- D. wealth
|
| 10 |
The transformation of resources into economic gods and services is |
- A. input
- B. production
- C. entrepreneur
- D. market
|
