The supply of labour in the market depends on - (1) the proportion of the population in the labour force (2) the number of person hours put in by each person (3) the size of population (4) All the above

The supply of labour in the market depends on - (1) the proportion of the population in the labour force (2) the number of person hours put in by each person (3) the size of population (4) All the above
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(4) All the above Explanation: Supply of labour in an economy depends upon both economic as well as noneconomic factors. It depends upon the size of population, the number of workers available for work out of a given population, the number of hours worked, the intensity of work, the skills of workers, their willingness to work and the mobility of labour.
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The supply of labour in the market depends on (1) the proportion of the population in the labour force (2) the number of person hours put in by each person (3) the size of population (4) All the above

Description : The supply of labour in the market depends on (1) the proportion of the population in the labour force (2) the number of person hours put in by each person (3) the size of population (4) All the above

Last Answer : All the above

The supply of labour in the economy depends on - (1) Population (2) National income (3) Per capita income (4) Natural resources

Description : The supply of labour in the economy depends on - (1) Population (2) National income (3) Per capita income (4) Natural resources

Last Answer : (1) Population Explanation: The supply curve for labor depends on variables such as population, wage rates, etc. in developing countries, the vast population base explains the relatively lower wage ... accessibility to labour supply. This is just the opposite in the case of developed countries.

The supply of labour in the economy depends on (1) Population (2) National income (3) Per capita income (4) Natural resources

Description : The supply of labour in the economy depends on (1) Population (2) National income (3) Per capita income (4) Natural resources

Last Answer : Population

Which of the following does not determine supply of labour? (1) Size and age-structure of population (2) Nature of work (3) Marginal productivity of labour (4) Work-leisure ratio

Description : Which of the following does not determine supply of labour? (1) Size and age-structure of population (2) Nature of work (3) Marginal productivity of labour (4) Work-leisure ratio

Last Answer : (3) Marginal productivity of labour Explanation: The term 'supply of labour' refers to the number of hours of a given type of labour which will be offered for hire at different wage rates. Usually ... relationship that exists between the wage rate i.e. the price of labour and labour hours supplied.

Which of the following does not determine supply of labour ? (1) Size and age-structure of population (2) Nature of work (3) Marginal productivity of labour (4) Work-leisure ratio

Description : Which of the following does not determine supply of labour ? (1) Size and age-structure of population (2) Nature of work (3) Marginal productivity of labour (4) Work-leisure ratio

Last Answer : Marginal productivity of labour

Division of labour is limited by - (1) the number of workers (2) hours of work (3) extent of the market (4) working space

Description : Division of labour is limited by - (1) the number of workers (2) hours of work (3) extent of the market (4) working space

Last Answer : (3) extent of the market Explanation: Division of labour is a process whereby the production process is broken clown into a sequence of stages and workers are assigned to particular stages. As it is the power ... be limited by the extent of that power, or, other words, by the extent of the market.

Division of labour is limited by (1) the number of workers (2) hours of work (3) extent of the market (4) working space

Description : Division of labour is limited by (1) the number of workers (2) hours of work (3) extent of the market (4) working space

Last Answer : extent of the market

Backward bending supply curve belongs to which market? (1) Capital (2) Labour (3) Money (4) Inventories

Description : Backward bending supply curve belongs to which market? (1) Capital (2) Labour (3) Money (4) Inventories

Last Answer : (2) Labour Explanation: In economics, backward bending supply curve is related to labour. Also known as backward-bending supply curve of labour, This curve models a situation where workers choose to ... It shows how the change in real wage rates affects the number of hours worked by employees.

Backward bending supply curve belongs to which market? (1) Capital (2) Labour (3) Money (4) Inventories

Description : Backward bending supply curve belongs to which market? (1) Capital (2) Labour (3) Money (4) Inventories

Last Answer : Labour

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.

Description : 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.

Last Answer : (b) Capital intensive country.

Division of labour is the result of - (1) Complicated work (2) excessive pressure (3) excess supply of labour (4) specialization

Description : Division of labour is the result of - (1) Complicated work (2) excessive pressure (3) excess supply of labour (4) specialization

Last Answer : (4) specialisation Explanation: Division of Labor is the "specialization" of cooperative labor in specific, circumscribed tasks and like roles. It is a process whereby the production process is broken down into a sequence of stages and workers are assigned to particular stages.

Quasi-Rent arises from (a) Land (b) Labour (c) Capital (d) Factors whose supply in the short run is inelastic.

Description : Quasi-Rent arises from (a) Land (b) Labour (c) Capital (d) Factors whose supply in the short run is inelastic.

Last Answer : (c) Capital

Backward bending supply curve is related to which of the following factors of production ? (a) Labour (b) Capital (c) Land(d) Entrepreneur

Description : Backward bending supply curve is related to which of the following factors of production ? (a) Labour (b) Capital (c) Land (d) Entrepreneur

Last Answer : (d) Entrepreneur

Who propounded the theory of unlimited supply of labour ? (a) Schumpeter (b) Rosestien Rodan (c) Mill (d) Lewis

Description : Who propounded the theory of unlimited supply of labour ? (a) Schumpeter (b) Rosestien Rodan (c) Mill (d) Lewis

Last Answer : (d) Lewis

Division of labour is the result of (1) Complicated work (2) excessive pressure (3) excess supply of labour (4) specialisation

Description : Division of labour is the result of (1) Complicated work (2) excessive pressure (3) excess supply of labour (4) specialisation

Last Answer : specialisation

Which of the following is necessary for a natural monopoly? a. economies of scale b. a high proportion of the total cost is the cost of capital goods c. the market is very small d. all of the above

Description : Which of the following is necessary for a natural monopoly? a. economies of scale b. a high proportion of the total cost is the cost of capital goods c. the market is very small d. all of the above

Last Answer : d. all of the above

Economic development depends on : (1) Natural resources (2) Capital formation (3) Size of the market (4) All of the above

Description : Economic development depends on : (1) Natural resources (2) Capital formation (3) Size of the market (4) All of the above

Last Answer : (4) All of the above Explanation: Economic development generally refers to the sustained, concerted actions of policymakers and communities that promote the standard of living and ... competitiveness, environmental sustainability, social inclusion, health, safety, literacy, and other initiatives.

Economic development depends on : (1) Natural resources (2) Capital formation (3) Size of the market (4) All of the above

Description : Economic development depends on : (1) Natural resources (2) Capital formation (3) Size of the market (4) All of the above

Last Answer : All of the above

An underdeveloped economy is characterized bya. High per capita real incomeb. Large proportion of labor force in the tertiary sectorc. State of deprivation of large proportion of populationd. All the above

Description : An underdeveloped economy is characterized bya. High per capita real income b. Large proportion of labor force in the tertiary sector c. State of deprivation of large proportion of population d. All the above

Last Answer : c. State of deprivation of large proportion of population Underdeveloped countries face the problem of deprivation of large section of the population, low per capita real income etc.

An underdeveloped economy is characterized by A. High per capita real income B. Large proportion of labor force in the tertiary sector C. State of deprivation of large proportion of population D. All the above

Description : An underdeveloped economy is characterized by A. High per capita real income B. Large proportion of labor force in the tertiary sector C. State of deprivation of large proportion of population D. All the above

Last Answer : C. State of deprivation of large proportion of population

An underdeveloped economy is characterized by A. High per capita real income B. Large proportion of labor force in the tertiary sector C. State of deprivation of large proportion of population D. All the above

Description : An underdeveloped economy is characterized by A. High per capita real income B. Large proportion of labor force in the tertiary sector C. State of deprivation of large proportion of population D. All the above

Last Answer : C. State of deprivation of large proportion of population

Which terns is used in economics for the market value of all goods and services in one year by labour and properly supplied by the residents of the country? (1) GDP (2) GPN (3) OMP (4) GNP

Description : Which terns is used in economics for the market value of all goods and services in one year by labour and properly supplied by the residents of the country? (1) GDP (2) GPN (3) OMP (4) GNP

Last Answer : (4) GNP Explanation: Gross National Product (GNP) is defined as "the market value of all goods and services produced in one year by labour and property supplied by the residents of a country. It is ... ), defined as "the value of all final goods and services produced in a country in I year."

Which of the following statements is correct? (1) Most workers will work for less than their reservation wage. (2) The reservation wage is the maximum amount any firm will pay for a worker. (3) Economic rent is the difference between the market wage and the reservation wage. (4) Economic rent is the amount one must pay to enter a desirable labour market.

Description : Which of the following statements is correct? (1) Most workers will work for less than their reservation wage. (2) The reservation wage is the maximum amount any firm will pay for a worker. (3) ... reservation wage. (4) Economic rent is the amount one must pay to enter a desirable labour market.

Last Answer : (3) Economic rent is the difference between the market wage and the reservation wage. Explanation: The difference between the actual market wage and the reservation wage is called economic rent. Therefore ... per-son becomes unemployed (The Goals of Macroeconomic Policy by Martin Prachowny. p. 58).

The demand for labour is called - (1) Market demand (2) Direct demand (3) Derived demand (4) Factory demand

Description : The demand for labour is called - (1) Market demand (2) Direct demand (3) Derived demand (4) Factory demand

Last Answer : (3) Derived demand Explanation: The demand for labour is "derived- from the production and demand for the product being demanded. If the demand for the product increases, either the price will ... price and production numbers are met. Labour is "derived" from the market demand for the product.

Which term is used in economics for the market value of all goods and services in one year by labour and properly supplied by the residents of the country? (1) GDP (2) GPN (3) OMP (4) GNP

Description : Which term is used in economics for the market value of all goods and services in one year by labour and properly supplied by the residents of the country? (1) GDP (2) GPN (3) OMP (4) GNP

Last Answer : GNP

Which of the following statements is correct ? (1) Most workers will work for less than their reservation wage. (2) The reservation wage is the maximum amount any firm will pay for a worker. (3) Economic rent is the difference between the market wage and the reservation wage. (4) Economic rent is the amount one must pay to enter a desirable labour market.

Description : Which of the following statements is correct ? (1) Most workers will work for less than their reservation wage. (2) The reservation wage is the maximum amount any firm will pay for a worker. (3) ... reservation wage. (4) Economic rent is the amount one must pay to enter a desirable labour market. 

Last Answer :  Economic rent is the difference between the market wage and the reservation wage.

The demand for labour is called (1) Market demand (2) Direct demand (3) Derived demand (4) Factory demand

Description : The demand for labour is called (1) Market demand (2) Direct demand (3) Derived demand (4) Factory demand

Last Answer :  Derived demand

Which of the following formulae is used to determine how many people to include in the original sampling? a. Desired sample size/Desired sample size + 1 b. Proportion likely to respond/desired sample size c. Proportion likely to respond/population size d. Desired sample size/Proportion likely to respond

Description : Which of the following formulae is used to determine how many people to include in the original sampling? a. Desired sample size/Desired sample size + 1 b. Proportion likely to respond/ ... size c. Proportion likely to respond/population size d. Desired sample size/Proportion likely to respond

Last Answer : d. Desired sample size/Proportion likely to respond

Which among the following has the least possibility of globalization? (1) selection of labour force (2) location of capital works (3) to manage resources for investment (4) increase in infrastructure

Description : Which among the following has the least possibility of globalization? (1) selection of labour force (2) location of capital works (3) to manage resources for investment (4) increase in infrastructure

Last Answer : (2) location of capital works Explanation: Globalization can affect the labor market by increasing capacity of developing countries to create new opportunities for work and production ... in proper shape. A welldeveloped infrastructure is an indispensable condition for faster globalization.

Capacity utilization - (1) is usually near 100 percent. (2) represents the percent of the labour force that is employed. (3) is a measure of the proportional of the existing capital stock used for current production. (4) rises as the economy moves into a recession, since firms must replace unemployed workers with some other resources to maintain production.

Description : Capacity utilization - (1) is usually near 100 percent. (2) represents the percent of the labour force that is employed. (3) is a measure of the proportional of the existing capital ... into a recession, since firms must replace unemployed workers with some other resources to maintain production.

Last Answer : (3) is a measure of the proportional of the existing capital stock used for current production. Explanation: Capacity utilisation refers to the extent or level to which the productive capacity of a ... as a percentage, it is computed by dividing the total capacity with the portion being utilized.

Which among the following has the least possibility of globalisation ? (1) selection of labour force (2) location of capital works (3) to manage resources for investment (4) increase in infrastructure

Description : Which among the following has the least possibility of globalisation ? (1) selection of labour force (2) location of capital works (3) to manage resources for investment (4) increase in infrastructure

Last Answer : location of capital works

Capacity utilisation (1) is usually near 100 percent. (2) represents the percent of the labour force that is employed. (3) is a measure of the proportional of the existing capital stock used for current production. (4) rises as the economy moves into a recession, since firms must replace unemployed workers with some other resources to maintain production.

Description : Capacity utilisation (1) is usually near 100 percent. (2) represents the percent of the labour force that is employed. (3) is a measure of the proportional of the existing capital ... into a recession, since firms must replace unemployed workers with some other resources to maintain production.

Last Answer : is a measure of the proportional of the existing capital stock used for current production.

Population In which sector the largest labour force is attached in Pakistan? A. Industry B. Trade C. Agriculture D. Mines

Description : Population In which sector the largest labour force is attached in Pakistan? A. Industry B. Trade C. Agriculture D. Mines

Last Answer : ANSWER: C

Effective demand depends on - (1) capital-output ratio (2) output-capital ratio (3) total expenditure (4) supply price

Description : Effective demand depends on - (1) capital-output ratio (2) output-capital ratio (3) total expenditure (4) supply price

Last Answer : (4) supply price Explanation: Effective Demand is "the demand in which the consumer are able and willing to purchase at conceivable price" simply saying if the product price is low more ... Function or Price and Aggregate Supply Function or Price to explain the determination of effective demand.

Effective demand depends on (1) capital-output ratio (2) output-capital ratio (3) total expenditure (4) supply price

Description : Effective demand depends on (1) capital-output ratio (2) output-capital ratio (3) total expenditure (4) supply price

Last Answer : supply price

The statement, regarding the size of stones used at the wearing surface. "The size of a stone used on a road must be in due proportion to the space occupied by a wheel of ordinary dimensions on a smooth level surface. The point of contact will be found to be longitudinal about 2.5 cm and everypiece of stone put into the road which exceeds 2.5 cm in any of its dimension is mischievous" was made by (A) Telford (B) Macadam (C) Tresguet (D) Sully

Description : The statement, regarding the size of stones used at the wearing surface. "The size of a stone used on a road must be in due proportion to the space occupied by a wheel of ordinary dimensions on a smooth ... dimension is mischievous" was made by (A) Telford (B) Macadam (C) Tresguet (D) Sully

Last Answer : Answer: Option B

Estimates of a water supply project depends upon the rate of water supply per capita consumption and probable population estimated at the end of the design period of (A) 5 to 10 years (B) 10 to 15 years (C) 15 to 20 years (D) 20 to 30 years

Description : Estimates of a water supply project depends upon the rate of water supply per capita consumption and probable population estimated at the end of the design period of (A) 5 to 10 years (B) 10 to 15 years (C) 15 to 20 years (D) 20 to 30 years

Last Answer : (D) 20 to 30 years

CG Co manufactures a single product T. Budgeted production output of product T during June is 200 units. Each unit of product T requires 6 labour hours for completion and CG Co anticipates 20 per cent idle time. Labour is paid at a rate of Rs7 per hour. The direct labour cost budget for March is (a) Rs 6,720 (b) 8,400 (c) 10,080 (d) 10,500

Description : CG Co manufactures a single product T. Budgeted production output of product T during June is  200 units. Each unit of product T requires 6 labour hours for completion and CG Co anticipates 20 per  cent idle time. Labour is paid at ... for March is (a) Rs 6,720 (b) 8,400 (c) 10,080 (d) 10,500

Last Answer : (d) 10,500

Malthusian theory of population explored the relationship between - (1) food supply and technology (2) food supply and population growth (3) population growth and development (4) optimum growth and resources

Description : Malthusian theory of population explored the relationship between - (1) food supply and technology (2) food supply and population growth (3) population growth and development (4) optimum growth and resources

Last Answer : (2) food supply and population growth Explanation: According to Malthusian theory of population, population increases in a geometrical ratio, whereas food supply increases in an arithmetic ratio. This ... by natural occurrences such as disease, high infant mortality, famine, war or moral restraint.

According to Malthusian theory of population - (1) Population increases in geometric ratio, food supply increases in arithmetic ratio (2) Population increases in arithmetic ratio, food supply increases in geometric ratio (3) Population increases in a harmonic mean, food supply increases in geometric ratio (4) Population increases in a harmonic ratio, food supply increases in a arithmetic ratio

Description : According to Malthusian theory of population - (1) Population increases in geometric ratio, food supply increases in arithmetic ratio (2) Population increases in arithmetic ratio, food supply increases in ... (4) Population increases in a harmonic ratio, food supply increases in a arithmetic ratio

Last Answer : (1) Population increases in geometric ratio, food supply increases in arithmetic ratio Explanation: In his 1798 work, An Essay on the Principle of Population, Malthus ermined the relationship between population ... e. by the repeated addition of a uniform increment in each uniform interval of time).

Malthusian theory of population explored the relationship between (1) food supply and techno-logy (2) food supply and popula-tion growth (3) population growth and development (4) optimum growth and resources

Description : Malthusian theory of population explored the relationship between (1) food supply and techno-logy (2) food supply and popula-tion growth (3) population growth and development (4) optimum growth and resources

Last Answer :  food supply and popula-tion growth

According to Malthusian theory of population (1) Population increases in geometric ratio, food supply increases in arithmetic ratio (2) Population increases in arithmetic ratio, food supply increases in geometric ratio (3) Population increases in a harmonic mean, food supply increases in geometric ratio (4) Population increases in a harmonic ratio, food supply increases in a arithmetic ratio

Description : According to Malthusian theory of population (1) Population increases in geometric ratio, food supply increases in arithmetic ratio (2) Population increases in arithmetic ratio, food supply increases in ... (4) Population increases in a harmonic ratio, food supply increases in a arithmetic ratio 

Last Answer : Population increases in geometric ratio, food supply increases in arithmetic ratio

The rate of an item of work depends on (A) Specifications of works (B) Specifications of materials (C) Proportion of mortar (D) All the above

Description : The rate of an item of work depends on (A) Specifications of works (B) Specifications of materials (C) Proportion of mortar (D) All the above

Last Answer : (D) All the above

Which of the following is not helpful in controlling money supply? (1) Free market policy (2) CRR (3) Bank Rate (4) Change in margin requirement

Description : Which of the following is not helpful in controlling money supply? (1) Free market policy (2) CRR (3) Bank Rate (4) Change in margin requirement

Last Answer : (1) Free market policy Explanation: The Central Bank of a country regulates money supply with the help of open market operations, changing the reserve requirements (CRR) and changing discount rate ( ... In India, the Reserve Bank of India has recently been resorting more to open market operations.

The market equilibrium for a commodity is determined by : (1) The market supply of the commodity. (2) The balancing of the forces of demand and supply for the commodity (3) (3) The intervention of the Government. (4) (4) The market demand of the commodity.

Description : The market equilibrium for a commodity is determined by : (1) The market supply of the commodity. (2) The balancing of the forces of demand and supply for the commodity (3) (3) The intervention of the Government. (4) (4) The market demand of the commodity.

Last Answer : (2) The balancing of the forces of demand and supply for the commodity Explanation: Market Equilibrium is determined when the quantity demanded of a commodity becomes equal to the quantity ... equilibrium is known as equilibrium price and the corresponding quantity is known as equilibrium quantity.

Full convertibility of a rupeee means - (1) purchase of foreign exchange for rupees freely (2) payment for imports in terms of ruppes (3) repayment of loans in terms of rupees (4) determination of rate of exchange between rupee and foreign currencies freely by the market forces of demand and supply

Description : Full convertibility of a rupeee means - (1) purchase of foreign exchange for rupees freely (2) payment for imports in terms of ruppes (3) repayment of loans in terms of rupees (4) determination of rate of exchange between rupee and foreign currencies freely by the market forces of demand and supply

Last Answer : (4) determination of rate of exchange between rupee and foreign currencies freely by the market forces of demand and supply Explanation: The full convertibility of the Indian currency means ... governmental control. Presently, the issue of capital account convertibility is in the discussion stage.

In a Capitalistic Economy, the prices are determined by : (1) Demand and Supply (2) Government Authorities (3) Buyers in the Market (4) Sellers in the Market

Description : In a Capitalistic Economy, the prices are determined by : (1) Demand and Supply (2) Government Authorities (3) Buyers in the Market (4) Sellers in the Market

Last Answer : (1) Demand and Supply Explanation: Capitalism generally refers to economic system in which the means of production are largely or entirely privately owned and operated for a profit, structured on the ... and services lead to higher prices and lower demand for certain goods lead to lower prices.

Sellers market denotes a situation where : (1) commodities are available at competitive rates (2) demand exceeds supply (3) supply exceeds demand (4) supply and demand are evenly balanced

Description : Sellers market denotes a situation where : (1) commodities are available at competitive rates (2) demand exceeds supply (3) supply exceeds demand (4) supply and demand are evenly balanced

Last Answer : (2) demand exceeds supply Explanation: Seller's market is a market which has more buyers than sellers. High prices result from this excess of demand over supply. The opposite of the seller's market is the buyer's market, where supply greatly exceeds demand.

In equilibrium, a perfectly competitive firm will equate - (1) marginal social cost with marginal social benefit (2) market supply with market demand (3) marginal profit with marginal cost (4) marginal revenue with marginal cost

Description : In equilibrium, a perfectly competitive firm will equate - (1) marginal social cost with marginal social benefit (2) market supply with market demand (3) marginal profit with marginal cost (4) marginal revenue with marginal cost

Last Answer : (4) marginal revenue with marginal cost Explanation: A perfectly competitive firm's supply curve is that portion of its marginal cost curve that lies above the minimum of the average variable cost ... marginal cost curve. The marginal cost curve is thus the perfectly competitive firm's supply curve.

Say's Law of Market holds that - (1) supply is not equal to demand (2) supply creates its own demand (3) demand creates its own supply (4) supply is greater than demand

Description : Say's Law of Market holds that - (1) supply is not equal to demand (2) supply creates its own demand (3) demand creates its own supply (4) supply is greater than demand

Last Answer : (2) supply creates its own demand Explanation: Say's law, or the law of market, is an economic principle of classical economics named after the French businessman and economist Jean-Baptiste Say ... General Theory of Employment, Interest and Money (1936) and a central tenet of Keynesian economics.