If TR is greater than TC, the business is making
Profits
Losses
Less than normal profit
Normal profit
The workers form a group within themselves called
Trade Union
Labour Union
Mass Union
Employment Union
Which one of the following character who does not own any other factors of production other than himself ?
labourer
landlord
entrepreneur
producer
If the business make less than what is required to meet the costs is said to be making
Super Normal Profits
Abnormal Profits
The factors of production are
Abundant
Scarce
Unavailable
Very cheap
Match the following
1) Land - a) Profit
2) Labour - b) Interest
3) Capital - c) Wages
4) Entrepreneur - d) Rent
(1 - d, 2 - c, 3 - b, 4 - a)
(1 - a, 2 - d, 3 - c, 4 - b)
(1 - a, 2 - b, 3 - c, 4 - d)
(1 - c, 2 - a, 3 - d, 4 - b)
The interest paid on the money that has been borrowed for the purpose of buying capital equipments is called
price of interest
price of capital
price of land
price of labour
Land , labour, capital and entrepreneur are called
factors
factors of production
consumption goods
none of these
The price paid for the use of land is called
interest
wage
rent
profit
The price of labour is called
