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Micro
Economics
Production Function & Factors of
Production
What is meant by land?
|
natural resources |
monetary resources |
|
artificial resources |
human resources |
The supply of land is:
|
limited |
unlimited |
|
flexibility |
inflexible |
What is reward/output for
capital?
|
wages |
interest |
|
profit |
all |
What is the reward and
output of labour?
|
wages |
interest |
|
profit |
all |
What is the reward and output
of organization?
|
Wages |
interest |
|
Profit |
rent |
What is reward of land?
|
Wages |
interest |
|
Profit |
rent |
Land production is subject
to this law.
|
increasing return |
decreasing return |
|
constant return |
none |
Transfer payments mean the compensation that is
received.
|
inherited |
without hard work |
|
works hard |
no one |
The firm's production is subject to this law.
|
increasing return |
decreasing return |
|
constant return |
none |
Labour refers to the struggle that
the work done for:
|
passion |
love |
|
compensation |
wages |
Labour must be paid in this
case.
|
interest |
wages |
|
profit |
rent |
Buildings of a country are
part of.
|
land |
labour |
|
organization |
rent |
The wealth or goods involved in business are called:
|
land |
rent |
|
capital |
labour |
The organization, employer or administrator is the
captain of.
|
firm |
cricket |
|
country |
ship |
Capital formation means increase.
|
in labour |
in industries |
|
in capital |
in wealth |
Demand for labour is:
|
individual |
derived |
|
limited |
social |
An organization is responsible
for .
|
profits |
loss |
|
both |
none |
What is the number of factors of
production?
|
2 |
4 |
|
6 |
8 |
This is/these are the part/parts of
land.
|
sky |
forests |
|
sea |
all |
Savings are necessary.
|
to be rich |
to be a capitalist |
|
for capital formation |
for all |
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