Tag: land,labour, capital and entrepreneur

Quizzes (0) Questions (185)

Questions Related to land,labour, capital and entrepreneur

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

Which of the following is true regarding "land" as a factor of production?

  1. Land is a perfectly immobile factor.

  2. Land is a passive factor.

  3. Economic reward for land is rent.

  4. All of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation
1) Land is a free gift of nature ,it cannot be moved from one place to another, thus,it does not possess any mobility
2) Land is a passive factor of production as it depends on other factors of production for the production process to begin.
3)Rent is the cost of land as a factor of production.
Multiple choice economics how does production take place? natural resources- air, water and land land land,labour, capital and entrepreneur production mechanism

Which of the following statements is correct?

  1. Supply of land can be increased.

  2. Land does not yield any result unless human efforts are employed.

  3. Fertility of land cannot change.

  4. Supply of land is perfectly elastic.
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Land is a passive factor of production,and hence it is dependent on other factors of production like,labour.(human efforts )

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

In economics, land includes natural resources -
(I) On the surface like soil, agricultural land
(II) Below the surface like mineral resources, rocks, ground water
(III) Above the surface like climate, rain, space, monitoring.
Select the correct answer from the options given below:-

  1. (I)

  2. (II) and (III)

  3. (II)

  4. All (I) to (III)
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Land includes all those natural resources which help in the production process to increase the productivity of an economy.

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

Which of the following is not true regarding "land" as a factor of production?

  1. Land is primary factor of production.

  2. Land is a man-made factor.

  3. The supply of land is fixed.

  4. Land is a free gift of nature to mankind.
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Land is a free gift of nature to human beings,thus it is not a man-made factor.

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

Which of the following is not a characteristic of land?

  1. It is produced by our forefathers.

  2. Its usefulness depends on human efforts.

  3. It is immobile.

  4. Its supply for the economy is limited.
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Land is not produced by any human, it is a free gift of nature and its quantity supplied is fixed.

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

Which of the following is not a characteristic of land?

  1. It is produced by our forefathers

  2. Its usefulness depends on human efforts.

  3. It is immobile.

  4. Its supply for the economy is limited.
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Land is not produced by our forefathers.It is a free gift of nature to mankind and thus the quantity supplied of land is fixed form the history of evolution.

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

Which of the following is not true regarding 'land' as a factor of production?

  1. Land is primary factor of production.

  2. Land is a man-made factor.

  3. The supply of land is fixed.

  4. Land is a free gift of nature to mankind.
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Land is a natural resource .It is considered as a free gift of nature to mankind,thus its quantity supplied is fixed.Hence,labour is a man-made factor.

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

Which of the following is true regarding 'land' as a factor of production?

  1. Land is perfectly immobile factor.

  2. Land is a passive factor.

  3. Economic reward is rent.

  4. All of above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation
1)Land is perfectly immobile factor as it is a natural resource and its quantity supplied is fixed and thus it does not possess any kind of mobility.
2)Land is a passive factor of production as it depends on other factors of production like,labour.
3)Rent is known as the cost of rent.For instance, a person needs to pay some cost in the form of rent to utilize the land for the production purpose.