Factors of Production Fill in the blanks Set 06

 Factors of Production  

Fill in the blanks Set 06

1. Labour is the ........................ of capital.
Ans: employer
 
2. Labour .................... from person to person.
Ans: differs
 
3. Individual labour has ........................ bargaining power.
Ans: weak
 
4. The concept of Division of Labour was introduced by ...................
Ans: Adam Smith
 
5. Due to division of labour there is a lot of saving in .......................
Ans: time and tools
 
6. All wealth is not ...................... but all capital is ...................
Ans: capital , wealth
 
7. Buildings and machines come under ......................
Ans: physical capital
 
8. Capital lasts ....................
Ans: over time
 
9. The different factors of production are combined by an .........................
Ans: Entrepreneur
 
10. In the Secondary sector raw materials are converted into ................ or ....................
Ans: finished, semifinished