Tag: production mechanism

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Questions Related to production mechanism

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

Increased use of ________ and __________ on a particular plot of land leads to an increase in crop production at a diminishing rate.

  1. capital and labour

  2. capital and entrepreneurship

  3. entrepreneurship and land

  4. none of the above
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The above is true because land depletes in resources over time and takes time to replenish itself. 

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

Land is used for alternative purposes, like ___________.

  1. cultivation

  2. dairy or poultry farms

  3. industrial plants and factories

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

Land is used for various purposes in the production process such as cultivation of land is undertaken to generate agricultural produce, setting up of dairy or poultry farms, sheep rearing, industrial plants and factories, etc.

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

The land includes __________.

  1. the surface of the earth like plains, plateaus, mountains, sea, rivers, ponds, etc.

  2. air, light, oil, coal, natural gas, etc.

  3. silver, gold, and other metals and minerals

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

As 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". Hence, all of the above. 

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

Who defined land as "By land is meant not merely land in the strict sense of the word, but whole of the materials and forces which nature gives freely for man's aid in land and water, in air, light and heat"?

  1. Prof. J.K. Mehta

  2. Prof. Marshall

  3. Prof. J.R. Hicks

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

Land has been defined by Prof. Marshall as, "By land is meant not merely land in the strict sense of the word, 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? natural resources- air, water and land land land,labour, capital and entrepreneur production mechanism

Which of the following is the basis of transport?

  1. Air

  2. Water

  3. Land

  4. None of these
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Land is the basic basis of transportation because of its extreme importance. It can provide door to door services; cost of land transportation is reasonable; less chance of the goods to get damaged ,etc

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

Land is the basis of life as we depend on land for our subsistence, residence and other necessities of life.

  1. True

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

Land is a natural resource. It is a free gift of nature to mankind. Because of the presence of land our subsistence, residence and other necessities of life is facilitated.

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

The land ownership laws prevailing in a country have a significant influence on the productivity of the land.

  1. True

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

Land ownership laws determines that 'who will own the land' ,has an extreme significance on the productivity of the land ,that is, the ability to produce goods and services in an economy in a more efficient and effective manner.

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

Insecurity of Tenancy Rights which may cause eviction of poor tenancy farmers makes them uninterested to ____________.

  1. worsen land productivity

  2. impair land productivity

  3. deteriorate land productivity

  4. improve land productivity
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The farmers will not look to improve land productivity or maintain the land in good condition as insecurity of tenancy rights will demotivate them to do so. 

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

What is the fundamental factor that affects the productivity of land?

  1. Capital

  2. Subordinate land

  3. Secondary resources

  4. None of these
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Capital is the fundamental factor that affects the productivity of land as for production capital is needed.For example, for cultivating the land proper HYV seeds,agricultural facilities,etc is needed- to facilitate all these capital is of extreme significance.