Table of Contents
Indian Economy Mcq Questions
DOWNLOAD MOBILE APPLICATION TO LEARN MORE: Indian Economy Mcq Questions
- Rent is paid for the use of the service of :
(a) Goods
(b) Capital
(c) Land
(d) Labour
- Which among the following is not a kind of rent?
(a) Economic Rent
(b) Scarcity Rent
(c) Differential Rent
(d) Physical Rent
- Ricardian theory of Rent discusses:
(a) Fertility and Scarcity of land
(b) Economic condition of a land
(c) Law of increasing returns
(d) None of these
- Extensive cultivation means:
(a) More land is used for production
(b) More units of labour is used
(c) More units of capital is used
(d) All of the above
Important Questions on Rent (Economics)
- Intensive Cultivation means:
(a) Law of diminishing returns
(b) More and more units of land and labour is used
(c) Law of increasing returns
(d) Law of constant returns
- Transfer Earning or Opportunity Cost refers to:
(a) Earning of a factor in next best alternative
(b) Earning of a factor in previous alternative
(c) Earning of a factor in present alternative
(d) Earning of a factor in the coming years
- Rent is determined under Modern Theory upon:
(a) The equilibrium of demand & supply of land
(b) The fertility of the land
(c) The scarcity of the land
(d) All of the above
- Modern theory of rent has classified factors of production into 2 parts. They are:
(a) Long & short term factors
(b) Specific and non-specific factors
(c) Scarcity of factors & Non-scarcity of factors
(d) None of these
9.Supply of land according to modern theory is:
(a) Fixed
(b) Limited
(c) Short
(d) Infinite
- Formula of rent according to modern theory of rent is:
(a) Rent = Actual Earning = Transfer Earning
(b) Rent = Actual Earning – Transfer Earning
(c) Rent = Actual Earning (Transfer Earning)
(d) Rent = Actual Earning ≥ Transfer Earning
ANSWERS:
- c
2.d - a
- a
- b
- a
- a
- b
- a
- b
DOWNLOAD MOBILE APPLICATION TO LEARN MORE: Indian Economy Mcq Questions