Production, Goods, and Inputs CDS Questions

CDS Economy

Production, Goods, and Inputs MCQ Questions


1.
How many factors of production are recognised in standard economics?
A.
Two
B.
Three
C.
Four
D.
Five
😑 View Answer Rough Work Error
ANSWER :
C. Four
2.
Which of the following is NOT a factor of production?
A.
Money
B.
Land
C.
Labour
D.
Entrepreneurship
😑 View Answer Rough Work Error
ANSWER :
A. Money
3.
The reward (factor income) for the factor 'land' is called:
A.
Wages
B.
Interest
C.
Rent
D.
Profit
😑 View Answer Rough Work Error
ANSWER :
C. Rent
4.
The factor income earned by an entrepreneur is:
A.
Rent
B.
Profit
C.
Wages
D.
Interest
😑 View Answer Rough Work Error
ANSWER :
B. Profit
5.
Which factor of production is described as a 'passive' factor?
A.
Labour
B.
Entrepreneurship
C.
Land
D.
Capital
😑 View Answer Rough Work Error
ANSWER :
C. Land
6.
Which factor of production is regarded as the 'active' factor?
A.
Capital
B.
Land
C.
Labour
D.
Natural gas
😑 View Answer Rough Work Error
ANSWER :
C. Labour