Tag: economics

Questions Related to economics

India accounts for ________of world surface area.

  1. 4.2 per cent

  2. 2.4 per cent

  3. 5.4 per cent

  4. 3.2 per cent


Correct Option: B
Explanation:

India is the seventh largest country in the world on the basis of its land area. The share of India in percent terms is only 2.4 per cent of the total land surface of the world.

Land refers to -

  1. All free gifts of nature.

  2. All man-made resources

  3. Both (a) and (b)

  4. Neither (a) nor (b)


Correct Option: A

Reserves of Crude Oil is an example of  ________ , as a Factor of Production.

  1. Land

  2. Labour

  3. Capital

  4. Entrepreneurial Skills


Correct Option: A

Gold Mines is an example of  ________ , as a Factor of Production.

  1. Land

  2. Labour

  3. Capital

  4. Entrepreneurial Skills


Correct Option: A

As a Factor of Production, the Supply of Land is _____________ from the viewpoint of the entire economy.

  1. Perfectly elastic

  2. More elastic

  3. Less elastic

  4. Perfectly inelastic


Correct Option: D

Which of these is included in "Land" as a Factor of Production?

  1. Fertility of Soil

  2. Water

  3. Air

  4. All of the above


Correct Option: D

As a Factor of Production, Land is _______________.

  1. Permanent

  2. Original and indestructible

  3. A free gift of nature

  4. All of the above are correct.


Correct Option: D

As a Factor of Production, Land is ___________________.

  1. Fixed in quantity

  2. Variable in quantity

  3. Not quantifiable at all

  4. Not useful for production.


Correct Option: A

As a Factor of Production, "Land" is one of the  ________ means of Production.

  1. Original

  2. Produced

  3. Derived

  4. Monetary


Correct Option: A

Land refers to _______________.

  1. Soil and earth's surface

  2. Fertility of soil

  3. Natural resources

  4. All of the above


Correct Option: D