The area of _______ is fixed.
Labour
Land
Capital
Organization
When labour is more dominant than capital it is called ________ production.
Labour intensive
Capital intensive
Large scale production
Small scale production
Machines, factories and computers are examples of ___________ capital.
Fixed capital
Physical capital
Money capital
Working capital
The _____ of a country depends on the growth rate of national output or percapita output.
Income
Economic growth
Profit
Service sector
_______ is an active agent of production.
The of a country depends to a great extent on the availability of land in that country.
National output
Development
The increase in the national income is called
Percapita income
Capital formation
Which is NOT a characteristics of land?
Natural fertility of land
Supply of land is fixed
Land is immobile
Land is heterogeneous
is defined to include not only the surface of the earth but also all other gifts of nature.
Entreprenure
The act of making goods and services in order to satisfy various human wants is called
Production
Education
Transportation
Communication
