Tag: land

Questions Related to land

As a Factor of Production, the Elasticity of Supply of Land from the viewpoint of the entire economy is ______________.

economics how does production take place? natural resources- air, water and land land land,labour, capital and entrepreneur production mechanism

  1. Infinite

  2. Zero

  3. Positive

  4. Negative

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Correct Option: B

Which category of land is rent-less land?

economics how does production take place? natural resources- air, water and land land land,labour, capital and entrepreneur production mechanism

  1. First category of land

  2. Second category of land

  3. Third category of land

  4. Marginal land

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Correct Option: D
Explanation:

Rent, for a land in the case of cultivation land, refers to the difference between the value of the produce and the cost of cultivation. Marginal land is the last grade of land cultivated whose price of produce is just equal to the cost incurred. Thus, it is a rent-less land, since the cost of cultivation is equal to the value of the produce.

Which of these is an example of Land as a Factor of Production?

economics how does production take place? natural resources- air, water and land land land,labour, capital and entrepreneur production mechanism

  1. Agricultural Lands

  2. Forests

  3. Diamond Mines

  4. All of the above

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Correct Option: D

High yielding variety seeds (HYV) were introduced to Indian farmers to bring about the ________.

economics how does production take place? land land,labour, capital and entrepreneur production mechanism

  1. White Revolution

  2. Green Revolution

  3. Orange Revolution

  4. Red Revolution

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Correct Option: B
Explanation:

The introduction of high-yielding varieties of seeds led to the increase in production of foodgrains, thus improving agriculture in India.

Which is a non-farm activity?

economics how does production take place? land land,labour, capital and entrepreneur production mechanism

  1. Multiple cropping

  2. Crop rotation

  3. Dairy farming

  4. Modern farming

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Correct Option: C
Explanation:

Dairy farming is a non-farm activity.

Jowar and Bajra are _______.

economics how does production take place? land land,labour, capital and entrepreneur production mechanism

  1. Kharif crops

  2. Rabi crops

  3. Zaid crops

  4. All of these

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Correct Option: A
Explanation:

The kharif crops include rice, maize, sorghum, pearl millet/bajra, finger millet/ragi (cereals), arhar (pulses), soyabean, groundnut (oilseeds), cotton etc. 

In Economics, the term "land" includes all that which is available free of cost from 'nature' as a gift to human beings.

economics how does production take place? land land,labour, capital and entrepreneur production mechanism

  1. True

  2. False

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Correct Option: A
Explanation:

The above statement is true as land is a free gift of nature.Its supply is fixed and limited in area.

The term "land" refers to _________.

economics how does production take place? land land,labour, capital and entrepreneur production mechanism

  1. the surface of the earth

  2. the surface of the water

  3. the layer of the air

  4. all of the above

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Correct Option: D
Explanation:

Marshall said, "By land is meant not merely land in the strict sense of the world, but whole of the materials and forces which nature gives freely for man's aid in land and water, in air, light and heat"

In the initial stages, the man paid no price for the land acquired by him.

economics how does production take place? land land,labour, capital and entrepreneur production mechanism

  1. True

  2. False

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Correct Option: A
Explanation:

TRUE,as land is a free gift of nature to human beings so that humans can utilize land for the production process.Hence the man did not pay any price for the acquired land .At that time concept of private property was also not there.

Supply of land is not fixed in quantity.

economics how does production take place? land land,labour, capital and entrepreneur production mechanism

  1. True

  2. False

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Correct Option: B