| 1 |
The factor of production which is used to produce more wealth or increase income is called |
- A. Land
- B. Labour
- C. Capital
- D. Organization
|
| 2 |
Immortal factor production is |
- A. Land
- B. Labour
- C. Capital
- D. Organization
|
| 3 |
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
|
| 4 |
Mental or physical work undertaken for reward by human being is called |
- A. Land
- B. Labour
- C. Capital
- D. Organization
|
| 5 |
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
|
| 6 |
Perfectly inelastic supply curve is: |
- A. Vertical
- B. Rise upward
- C. Horizontal
- D. Fall downward
|
| 7 |
If quantity supplied changed in response to change in price, is known as: |
- A. Ed
- B. Es
- C. More Elastic
- D. Less Elastic
|
| 8 |
Which factor can not be stored |
- A. Land
- B. Labour
- C. Capital
- D. Organization
|
| 9 |
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
|
| 10 |
Supply curve slope is: |
- A. Positive
- B. Vertical
- C. Negative
- D. Horizontal
|
