Tag: economics

Quizzes (361) Questions (3598)

Questions Related to economics

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. 

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.