| 1 |
Which factor is oldest and basic factor of production |
- A. Land
- B. Labour
- C. Capital
- D. Organization
|
| 2 |
In modern term, factors of production are called |
- A. Inputs
- B. Productive services
- C. Inputs and productive services
- D. Production of goods and services
|
| 3 |
Mental or physical work undertaken for reward by human being is called |
- A. Land
- B. Labour
- C. Capital
- D. Organization
|
| 4 |
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
|
| 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 |
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
|
| 7 |
Tractor, harvester, thrasher etc are the examples of factor of production |
- A. Land
- B. Labour
- C. Capital
- D. Organization
|
| 8 |
Factor of production which is used to earn more income, is called |
- A. Land
- B. Labour
- C. Capital
- D. Organization
|
| 9 |
The most important and basic factor of production is |
- A. Land
- B. Labour
- C. Capital
- D. Organization
|
| 10 |
The relationship between price and quantity supplied is: |
- A. Inverse
- B. Positive
- C. Infinite
- D. Zero
|
