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11.

Economic goods produced by firms are called:

A.	Productivity	B.	Innovation
C.	Technological progress	D.	Output

12.

Land is:

A.	Hirable	B.	Not hirable
C.	Homogeneous	D.	A form of capital

13.

Geographical mobility is not possible for:

A.	Land	B.	Labour
C.	Capital	D.	Wealth

14.

The following is NOT a factor of production:

A.	Labour	B.	Entrepreneurship
C.	Land	D.	Money

15.

Which of the following factors takes risk, innovates and coordinates:

A.	Capital	B.	Labour
C.	Bank	D.	Entrepreneur

16.

The transformation of resources into economic goods and services is:

A.	Inpur	B.	Production
C.	Increasing returns	D.	Output

17.

For production of goods we need factors:

A.	Few	B.	Two
C.	Four	D.	Unlimited

18.

Standard of living of a country can be raised if it increases:

A.	Labour force	B.	Production
C.	Money supply	D.	Exports

19.

Productivity of land can be raised by:

A.	Extensive cultivation	B.	Intensive cultivation
C.	Better marketing	D.	Increasing money supply

20.

Natural environment that can be used for the production of goods and services is:

A.	Labour	B.	Money
C.	Capital	D.	Natural resources