| 1 |
Organization means an individual or institution which with optimum factor combination |
- A. Lays foundation of business always earning profit
- B. Lays foundation of business but does not accept the responsibility of profit and loss
- C. Lays foundation of business but accepts the responsibility of profit and loss
- D. Serves as a manger in the business and receives remuneration
|
| 2 |
Production of a commodity depends upon four factors of production i.e. land, labour, capital and organization |
- A. According to classical economists
- B. According to Neo classical economists
- C. According to modern economists
- D. According to Austrian school of thought
|
| 3 |
Stock means the quantity: |
- A. Sold in market
- B. Which is offered for sale
- C. Which exist in warehouse
- D. Of total production
|
| 4 |
As factor of production, river and sea are called |
- A. Land
- B. Labour
- C. Capital
- D. Organization
|
| 5 |
Free gift of nature is |
- A. Land
- B. Labour
- C. Capital
- D. Organization
|
| 6 |
River, sea, forests, rain are called |
- A. Land
- B. Labour
- C. Capital
- D. Organization
|
| 7 |
The factor of production which is used to produce more wealth or increase income is called |
- A. Land
- B. Labour
- C. Capital
- D. Organization
|
| 8 |
The relationship between price and quantity supplied is: |
- A. Inverse
- B. Positive
- C. Infinite
- D. Zero
|
| 9 |
Immortal factor production is |
- A. Land
- B. Labour
- C. Capital
- D. Organization
|
| 10 |
Fourth factor of production is called |
- A. Land
- B. Labour
- C. Capital
- D. Organization
|
