Tag: production mechanism

Questions Related to production mechanism

As a Factor of Production, the Supply of Land is relatively elastic from the viewpoint of ___________________.

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

  1. The entire economy

  2. An Individual Firm

  3. Both (a) and (b)

  4. Neither (a) nor (b)

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Correct Option: B

As a Factor of Production, Land is permanent. This means that Land ___________________.

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

  1. Remains before and after cultivation

  2. Cannot be destroyed or lost

  3. Cannot be used for production at all

  4. None of the above

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Correct Option: B

As a Factor of Production, Land is mobile across ____________.

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

  1. Places

  2. Uses

  3. Both (a) and (b)

  4. Neither (a) nor (b)

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Correct Option: B

No two pieces of land are exactly alike in all respects. This statement is ______________.

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

  1. True

  2. False

  3. Partially True

  4. None of the above

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Correct Option: A

If Land is used for productive purposes, its fertility is reduced. Such fertility ________________.

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

  1. Can be restored

  2. Cannot be restored at all

  3. Is lost forever

  4. Both (b) and (c)

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Correct Option: A

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.