Which is NOT a characteristics of land?
Natural fertility of land
Supply of land is fixed
Land is immobile
Land is heterogeneous
__________ increases the productivity of the workers.
Capital
Land
Labour
Organization
___________ is the basic factor of production.
________ is not perishable.
The act of making goods and services in order to satisfy various human wants is called
Production
Education
Transportation
Communication
The remuneration paid for the services of ________ is called wages.
Labourer
Entrepreneur
Products
Savings
The _____ of a country depends on the growth rate of national output or percapita output.
Income
Economic growth
Profit
Service sector
The increase in the national income is called
Percapita income
Capital intensive
Capital formation
Labour cannot be separated from the
Restored
Service
Bargain
Factors of production such as land, labour, capital and organization are transferred into output, the process is called