Factors of production

Labour is a free gift of nature

• True

• False

These are the primary FOP

• Labour & capital

• Capital & Land

• Land & labour

• Organisation & Land

Factor inputs are perishable while non factor inputs are durable FOP's

• True

• False

Capital is an active factor of production

• True

• False: Land is an active factor of production

• False: Labour is an active factor of production

Demand for labour is derived because....

• They are demanded when the goods and services they produce are demanded

• ..because the demand of labourers are in elastic

• ....because demand for labourers are lesser than its supply

Efficiency of labour means...

• the amount of goods they produce

• The quality of goods they produce

• The time they take to produce

• All of the above

• Non of the above