| 1 |
Productivity of land can be raised by |
- A. decreasing farm size
- B. intensive cultivation
- C. better marketing
- D. increasing money supply
|
| 2 |
Which is true |
- A. labour produces land
- B. land produces labour
- C. labour produces capital
- D. capital produces labour
|
| 3 |
When both demand and supply fall in equal proportions, price of the product will . |
- A. Fall
- B. Rise
- C. Remain the same
- D. None of the above
|
| 4 |
When demand rises more than supply price of the product will. |
- A. Rise
- B. Fall
- C. Remains unchanged
- D. None of the three
|
| 5 |
Price determined in case of a perishable good will be. |
- A. Normal price
- B. Market price
- C. Short run price
- D. Long run price
|
| 6 |
The transformation of resources into economic goods and services is called |
- A. technical efficiency
- B. input
- C. production
- D. increasing returns
|
| 7 |
With a fixed in the market period, if the demand of a product rises, then: |
- A. Price will fall
- B. Price will rise
- C. Price will remain the same
- D. None of the three
|
| 8 |
Labour is hirable but you cannot hire |
- A. capital
- B. land
- C. manager
- D. entrepreneur
|
| 9 |
Which of the following is correct with respect to resources |
- A. Money is a capital good
- B. Human skills are a labour input
- C. Entrepreneur is part of the labour input
- D. Natural resources include human input
|
| 10 |
The following is <i>NOT</i>a factor of production |
- A. labour
- B. entrepreneurship
- C. land
- D. money
|
