Land, labour, capital and entrepreneurship are examples of which of the following (a) Public goods (b) Inferior goods © Factors of production (d) Outputs
If capital is available in large proportion and labour is less then the economy is known as (a) Labour intensive country (b) Capital intensive country. © Both (a) and (b). (d) None of the above. Answer : (b) Capital intensive country....
According to Absolute and Comparative Advantage theories----- is the only factor of production. (a) land (b) labour © capital (d) organization. Answer : (b) labour...
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,...
The long run average cost curve envelops (a) all short run average cost curves (b) all short run average variable cost curves © all short run marginal cost curves (d) none of the above.
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