Factors of Production Fill in the blanks Set 04

Factors of Production 

Fill in the blanks Set 04

1.Production means creation of ......................
Ans: Utility
 
2. ..................... means wants satisfying power.
Ans: Utility
 
3. ................ and .............. are called original factors.
Ans: Land, Labour
 
4. Capital and Organization are called ................... factors.
Ans: derived
 
5. ...................... is a free gift of nature.
Ans: Land
 
6. The concept of Division of labour was introduced by .....................
Ans: Adam Smith
 
7. .................... is the changing agent of the society.
Ans: An entrepreneur
 
8. Secondary sector is also called ..................... sector.
Ans: manufacturing 
 
9. Tertiary sector of the economy is the ....................... industry.
Ans: service
 
10. An enquiry into the nature and causes of wealth of nations was written by .................
Ans: Adam Smith