| 1 |
The three broad types of productive resources are |
- A. money, profit and interest
- B. capital, labour and natural resources
- C. labour, stock shares and deposits
- D. technology, landl and markets
|
| 2 |
Production in economic means |
- A. factors of production
- B. doing some job
- C. output of goods
- D. profit
|
| 3 |
Labour is hirable but you cannot hire |
- A. capital
- B. land
- C. manager
- D. entrepreneur
|
| 4 |
With a fixed in the market period, if the demand of a product rises, then: |
- A. Price will fall
- B. Price will rise
- C. Price will remain the same
- D. None of the three
|
| 5 |
When supply rises more than demand price of the product will. |
- A. Rise
- B. Fall
- C. Remain unchanged
- D. Non of the three
|
| 6 |
If a firm increases the ratio of capital to labour, it becomes more |
- A. labour intensive
- B. capital intensive
- C. output intensive
- D. input intensive
|
| 7 |
When both demand and supply fall in equal proportions, price of the product will . |
- A. Fall
- B. Rise
- C. Remain the same
- D. None of the above
|
| 8 |
Natural environment that supports production of goods and services is included in |
- A. labour
- B. money
- C. capital
- D. land
|
| 9 |
Land, labour and capital are needed to produce goods. They are collectively called |
- A. elements of production
- B. factors of production
- C. tools of production
- D. cost of production
|
| 10 |
The following is <i>NOT</i>a factor of production |
- A. labour
- B. entrepreneurship
- C. land
- D. money
|
