ECONOMICS CHAP 6 -11

Rent is the reward for the use of

• capital

• labour

• land

• organization

In Economics, distribution of income is among the

• factors of production

• individual

• firms

• traders

Theory of distribution is popularly known as,

• Theory of product-pricing

• Theory of factor-pricing

• Theory of wages

• Theory of Interest

The concept of ‘Quasi-Rent’ is associated with

• Ricardo

• Keynes

• Walker

• Marshall

The Classical Theory of Rent was propounded by

• Ricardo

• Keynes

• Marshall

• Walker

‘Original and indestructible powers of the soil’ is the term used by

• J.S.Mill

• Walker

• Clark

• Ricardo

“Wages as a sum of money are paid under contract by an employer to a worker for services rendered” –Who said this?

• Benham

• Marshall

• Walker

• J.S.Mill

Quasi-rent arises in

• Man-made appliances

• Homemade items

• Imported items

• None of these

Innovation Theory of profit was given by

• Hawley

• Schumpeter

• Keynes

• Knight

Abstinence Theory of Interest was propounded by

• Alfred Marshall

• N.W Senior

• Bohm-Bawerk

• Knut Wicksel