| 1 |
Production in economic means |
- A. factors of production
- B. doing some job
- C. output of goods
- D. profit
|
| 2 |
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
|
| 3 |
If supply rises more than demand, price of the product will. |
- A. Fall
- B. Rise
- C. Not change
- D. Change
|
| 4 |
Which is true |
- A. labour produces land
- B. land produces labour
- C. labour produces capital
- D. capital produces labour
|
| 5 |
The transformation of resources into economic goods and services is called |
- A. technical efficiency
- B. input
- C. production
- D. increasing returns
|
| 6 |
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
|
| 7 |
Which of the following is NOT an input |
- A. labour
- B. entrepreneurship
- C. natural resources
- D. production
|
| 8 |
Land as used in economics |
- A. is a free gift of nature
- B. is unlimited in quantity
- C. is not hirable
- D. excludes oceans
|
| 9 |
Which of the following input factor takes risk, innovates and coordinates |
- A. capital
- B. labour
- C. productivity
- D. entrepreneur
|
| 10 |
Productivity of land can be raised by |
- A. decreasing farm size
- B. intensive cultivation
- C. better marketing
- D. increasing money supply
|
