| 1 |
Productivity of land can be raised by |
- A. decreasing farm size
- B. intensive cultivation
- C. better marketing
- D. increasing money supply
|
| 2 |
Land is |
- A. hirable
- B. not hirable
- C. homogeneous
- D. a form of capital
|
| 3 |
Land means |
- A. sea
- B. surface of earth
- C. natural forests
- D. all natural resources
|
| 4 |
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
|
| 5 |
Given the supply curve, a fall in demand will. |
- A. Increase equilibrium quantity of the product
- B. Decrease equilibrium quantity of the product
- C. Not affect equilibrium quantity
- D. Not affect equilibrium price
|
| 6 |
When demand rises more than supply price of the product will. |
- A. Rise
- B. Fall
- C. Remains unchanged
- D. None of the three
|
| 7 |
Economic goods produced by firms are called |
- A. productivity
- B. innovation
- C. technological progress
- D. output
|
| 8 |
Which is true |
- A. labour produces land
- B. land produces labour
- C. labour produces capital
- D. capital produces labour
|
| 9 |
Equilibrium price of a product is determined by: |
- A. The gomverment
- B. An industrialist
- C. Market competition
- D. An agriculturist
|
| 10 |
If supply rises more than demand, price of the product will. |
- A. Fall
- B. Rise
- C. Not change
- D. Change
|
