Question # 1

As factor of production, river and sea are called

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Land

Labour

Capital

Organization

River, sea, forests, rain are called

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Land

Labour

Capital

Organization

When supply decreases due to fall in price, it is called:

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Fall in supply

Contraction in supply

Expansion in supply

Rise in supply

The factor of production which is used to produce more wealth or increase income is called

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Land

Labour

Capital

Organization

Tractor, harvester, thrasher etc are the examples of factor of production

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Land

Labour

Capital

Organization

One of the following is not included in the characteristics of land

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Land is a gift of nature

All the pieces of land are not equal infertility

Productive capacity of land is limited

Supply of land is unlimited

The relationship between price and quantity supplied is:

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Inverse

Positive

Infinite

Zero

In modern term, factors of production are called

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Inputs

Productive services

Inputs and productive services

Production of goods and services

If an entrepreneur does service, in economics it is called

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Organization

Discipline

Labour

Wage

Causes of shifting in supply curve is:

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Change in technique

Change in cost

Change in tax

All of them

If quantity supplied changed in response to change in price, is known as:

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Ed

Es

More Elastic

Less Elastic

The most important and basic factor of production is

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Land

Labour

Capital

Organization

Cannot be separated from labourer

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Land

Labour

Capital

Organization

If 50% change in supply in response to 50% change in price then:

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Es = 0

Es = 1

Es > 1

Es < 1

Blessings like air, rain existing on land are included in factor of production

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Labour or human resources

Capital or monetary resources

Land or natural resources

Organisation

Fourth factor of production is called

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Land

Labour

Capital

Organization

Which factor can not be stored

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Land

Labour

Capital

Organization

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