Economics growth can be seen by an outward shift of
The production possibility frontier
The gross domestic barrier
The marginal consumption frontier
The minimum efficient scale
The concept of choice would be come irrelevant if
Capital was eliminated
Scarcity were eliminated
We were dealing with a very simple one person economy
Accumulation of capital
________ is / are considered to be agents of production.
Land
Labour
Capital
All the above
Due to scarcity of resources:
Every society must under take central planning
The government must decide how to allocate available resources
Some members of each society must live
Every society must choose among competing uses of available resources.
By __________ we mean the process of creating the various good and services , which are consumed by the people of the country.
Production
Distribution
Investment
The of a country depends on the growth rate of national output or percapita output.
Income
Economic growth
Profit
Service sector
_______ is not a gift of nature.
Organiser
Indicate below what is not a factor of production?
A bank loan
Which is not a function of land?
Determines agricultural production
Supply of natural resources
Determines the forest resources
Supply of land is fixed
Natural resources include
Mineral resources
Forest resources
Water resources
