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

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

_____ can kill bacteria and other micro organisms in the soil.

  1. Bio fertilizers

  2. Organic fertilizers

  3. Manure

  4. Homemade fertilizers

  5. Chemical fertilizers
Reveal answer Fill a bubble to check yourself
E Correct answer
Explanation

A chemical fertilizer is defined as any inorganic material of wholly or partially synthetic origin that is added to the soil to sustain plant growth. Can also kill bacteria and other micro organisms in the soil.

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

To grow more than one crop on a piece of land during the year is known as ______.

  1. kharif crop

  2. multiple cropping

  3. rabi crop

  4. zaid crop

  5. none of the above
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

In agriculture, multiple cropping is the practice of growing two or more crops in the same piece of land during a single growing season. It is a form of polyculture.

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 a fixed capital?

  1. Clay

  2. Yarn

  3. Tools

  4. Seeds
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Fixed capital includes the assets that are needed to start up and conduct business. These assets are considered fixed as they are not consumed or destroyed during the actual production of a good or service but have a reusable value. 

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

Multiple cropping refers to ______.

  1. cultivation of wheat and rice

  2. cultivation of two crops in alternate rows

  3. cultivating more than one crop on the same field each year

  4. cultivating crops and rearing animals on the same farm
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

In agriculture, multiple cropping is the practice of growing two or more crops in the same piece of land during a single growing season. It is a form of polyculture.