___________ is the basic factor of production.
Labour
Capital
Organization
Land
is defined to include not only the surface of the earth but also all other gifts of nature.
Entreprenure
________ 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
Which is NOT a characteristics of land?
Natural fertility of land
Supply of land is fixed
Land is immobile
Land is heterogeneous
_______ is an active agent of production.
When labour is more dominant than capital it is called ________ production.
Labour intensive
Capital intensive
Large scale production
Small scale production
Indicate below what is not a factor of production?
A bank loan