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

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.

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 have a positive effect on the productivity of land?

  1. Wells and tube wells

  2. Canals

  3. Tank

  4. All of these
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Water resources close to farm lands is essential for better productivity due to better irrigation. This s especially important in under developed and developing countries as they lack infrastructure for proper irrigation facilities. 

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

The average productivity of land is defined as the output obtained from land divided by ____________.

  1. area of that piece of land

  2. available irrigation

  3. available resources

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

Calculation of average productivity of land helps us to understand the per unit land productivity, which helps us to know the ability of a production system to produce more effectively and efficiently.

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 highlight/s the importance of land?

  1. Land determines agricultural production

  2. The industrial progress depends on availability of mineral resources

  3. Land determines total production of a country

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

Land is one of the four basic factors of production. 

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

The productivity of land depends on the availability of ____________ as land alone cannot produce anything without it.

  1. efficient labour

  2. deficient labour

  3. important laws

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

Land alone is of no use without human resource or efficient and effective labour resource. An efficient production mechanism is established with the proper coordination between land and labour, where in the labour makes use of the land to produce output.