Economics MCQS with Answers 1st Year Chapter 17

Economics MCQS with Answers 1st Year


Marginal land
gets low rent
is uncultivable land
cannot be sold
gets no rent

He said interest is payment for use of money
Ricardo
Keynes
Marshall
Adam Smith

The concept of quasi rent was given by.
Adam smith
Robbins
Alfred Marshall
Ricardo

If the supply of land is assumed to be perfectly inelastic which of the following rent will it yield.
Scarcity rent
Quasi rent
Differential rent
Scarcity rent

Who introduced the concept of Quasi rent.
Robbins
Alfred Marshall
Hicks
Hobson

These are kinds of rent EXCEPT
location rent
scarcity rent
differential rent
mobility rent

Every factor of production gets reward equal to its
price
increasing return
marginal product
cost

Profits arise because an entrepreneur
innovates
lends money
a and b of above
prepares plan

This is capital
machinery
forests
money
trademarks

Some economists say that profit earner is a kind of
rent receiver
wage earner
interest receiver
govt. officer

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