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 four factors of production are (1) land, labour, capital, organisation, (2) land, electricity, water, labour (3) labour, capital, land, rainfall, (4) labour, climate, land, tools, Answer : land, labour, capital, organisation,...
According to Absolute and Comparative Advantage theories----- is the only factor of production. (a) land (b) labour © capital (d) organization. Answer : (b) labour...
Classical theories believed in ---- theory of value. (a) land (b) labour © capital (d) organization. Answer : (b) labour...
. Terms of trade is (a) the ratio of imports / exports (b) the ratio of exports/imports © the ratio of goods/services (d) the ratio of land/labour Answer : (b) the ratio of exports/imports...
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