Short run production function means
At least one factor is in fixed supply
Two factors are in fixed supply
All factors are in fixed supply
One factor in variable supply
_________ is limited by the extent of market.
Labour
Capital
Division of Labour
Profit
Production refers to
Destruction of Wealth
Creation of Utilities
Exchange Value
Equilibrium
Capital means
Nature's Wealth
Goods and Services
Organisation
Building and Machinery
Economics is the study of
Production Technology
Consumption Decisions
How society decides what, how and for whom to produce
The best way to run society
Utility is a __________ concept.
social concept
subjective / psychological concept
potential concept
scientific concept
Wages paid in money terms is called
Real Wages
Nominal Wages
Theory of Wages
Low Wages
The supply of labour in an economy at very high real wages.
Increases
Decreases
Remains Constant
Equality
