Classical theories believed in ---- theory of value. (a) land (b) labour © capital (d) organization.

Classical theories believed in ---- theory of value.
(a) land
(b) labour  
© capital
(d) organization.
by

1 Answer

Answer :

(b) labour
by

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Classical economists’ neglects---- side in their theories. (a) demand (b) supply © savings (d) investment

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In the long run, which of the following factors of production is fixed? (a) capital (b) building © labour (d) none of the above

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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.

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According to Modern Theory of Rent, rent accrues to - (1) capital only (2) any factor (3) labour only (4) land only

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According to Modern Theory of Rent, rent accrues to (1) capital only (2) any factor (3) labour only (4) land only

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Economics classifies the manmade instrument of production as: (1) Organization (2) Capital (3) equipment (4) labour

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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,

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

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

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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

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Factor propotion theory is also known as (a) Comparative advantage theory. (b) Laissez faire theory. © Heckscher Ohlin theory. (d) Product cycle theory.

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.In Heckscher Ohlin theory production function differ between commodities but are same between---- (a) countries. (b) factors © costs. (d) revenues.

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. In Heckscher Ohlin theory factors of production are---in number. (a) one (b) two © three (d) four

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The theory of Comparative Advantage was propounded by (a) Adam Smith (b) David Ricardo © J.S. Mill (d) None of them.

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The theory of Absolute Advantage was propounded by (a) Adam Smith (b) David Ricardo © J. S Mill (d) None of them.

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A profit maximizing firm will invest up to the level of investment where (a) The cost of borrowing equals marginal efficiency of capital (b) The cost of borrowing is greater than marginal efficiency of capital © The cost of borrowing is less than marginal efficiency of capital (d) The cost of borrowing is equal to marginal propensity to consume.

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

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Indian agriculture is typically characterised as - (1) land surplus, labour scarce economy (2) land surplus, labour surplus economy (3) land scarce, labour surplus economy (4) land scarce, labour scarce economy

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Indian agriculture is typically characterised as (1) land surplus, labour scarce economy (2) land surplus, labour surplus economy (3) land scarce, labour surplus economy (4) land scarce, labour scarce economy

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Which of the following occurs when labour productivity rises? (1) The equilibrium nominal wage falls. (2) The equilibrium quantity of labour falls. (3) Competitive firms will be induced to use more capital (4) The labour demand curve shifts to the right

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Labour Intensive Technique would get chosen in a - (1) Labour Surplus Economy (2) Capital Surplus Economy (3) Developed Economy (4) Developing Economy

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Enterpreneurial ability is a special kind of labour that - (1) is hired out to firms at high wages (2) organizes the process of production (3) produces new capital goods to earn interest (4) manages to avoid losses by continual innovation

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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

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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

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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.

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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 of the following is active factor of production ? a. Labour b. Capital c. Machinery d. All of these

Description : Which of the following is active factor of production ? a. Labour b. Capital c. Machinery d. All of these

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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

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

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Last Answer : Labour

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.

Which of the following occurs when labour productivity rises ? (1) The equilibrium nominal wage falls. (2) The equilibrium quantity of labour falls. (3) Competitive firms will be induced to use more capital (4) The labour demand curve shifts to the right

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Last Answer : The labour demand curve shifts to the right

Labour Intensive Technique would get chosen in a (1) Labour Surplus Economy (2) Capital Surplus Economy (3) Developed Economy (4) Developing Economy

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Last Answer : Labour Surplus Economy

Enterpreneurial ability is a special kind of labour that (1) is hired out to firms at high wages (2) organizes the process of production (3) produces new capital goods to earn interest (4) manages to avoid losses by continual innovation

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Last Answer : organizes the process of production

The balance of payments equals (a) The difference between household spending over earnings (b) The difference between government expenditure over its income © A measure of the value of economic transactions between residents of a country and rest of the world (d) The difference between inflation and unemployment.

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For which function money is accepted as a unit of account? (a) Measure of value. (b) Store of value. © Medium of exchange. (d) Standard of deferred payment.

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Which is not added in the calculation of national income in India? (a) The value of goods and services. (b) The sold value of old fridge. © Services rendered by the housewives (d) Both (b) and (c)

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