Factors of Production Choose the correct answer Set 02

Factors of Production 

Choose the correct answer Set 02

1. The Father of Economics is .................
(a) Adam Smith 
(b) Robbins
(c) Rousseau
 
2. The National Incomes of advanced countries are at .........................
(a) high level  
(b) medium level  
(c) low level
 
3. All the free gifts of nature are termed as ...................
(a) land 
 (b) labour
(c) capital
 
4. man can change only the ..................... of land.
(a) size  
(b) uses
(c) nature
 
5. Any work undertaken only for ..................... is not regarded as labour.
(a) income 
(b) reward
(c) pleasure
 
6. Labour involves ...................... elements.
(a) human 
(b) financial
(c) climate
 
7. Labour is .....................
(a) Perishable 
(b) Non perishable
(c) Ever lasting
 
8. Labour is ......................
(a) Mobile 
(b) Immobile
(c) Stagnant
 
9. Efficient labour ....................... production.
(a) increases 
(b) decreases 
(c) affects
 
10. Wealth of Nations was written by ...................
(a) Adam Smith 
(b) John Smith
(c) Robbins