Land, labour, capital and entrepreneurship are examples of which of the following (a) Public goods (b) Inferior goods © Factors of production (d) Outputs
Economic rent refers to (1) Payment made for the use of labour (2) Payment made for the use of capital (3) Payment made for the use of organisation (4) Payment made for the use of land Answer : Payment made for the use of land...
According to Absolute and Comparative Advantage theories----- is the only factor of production. (a) land (b) labour © capital (d) organization. Answer : (b) labour...
In the long run, which of the following factors of production is fixed? (a) capital (b) building © labour (d) none of the above Answer : (d) none of the above...
The sum total of incomes received for the services of labour, land or capital in a country is called : (1) Gross domestic product (2) National income (3) Gross domestic income (4) Gross national income Answer : Gross domestic income...
50.5k questions
47.1k answers
240 comments
7.0k users