Tag: land

Quizzes (5) Questions (182)

Questions Related to land

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

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

  1. Infinite

  2. Zero

  3. Positive

  4. Negative
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Since the total amount of land in the entire economy is fixed and cannot be increased regardless of price, the supply is perfectly inelastic, which corresponds to an elasticity of zero.

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

Which category of land is rent-less land?

  1. First category of land

  2. Second category of land

  3. Third category of land

  4. Marginal land
Reveal answer Fill a bubble to check yourself
D Correct answer
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.

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

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

  1. Agricultural Lands

  2. Forests

  3. Diamond Mines

  4. All of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

In economics, land includes all natural resources provided by nature, including agricultural soil, forests, and mineral deposits found in mines.

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

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

  1. White Revolution

  2. Green Revolution

  3. Orange Revolution

  4. Red Revolution
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

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

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

The term "land" refers to _________.

  1. the surface of the earth

  2. the surface of the water

  3. the layer of the air

  4. all of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
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"

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

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

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
A Correct answer
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.