Economics: Land, Labour, and Capital Identification
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Questions and Answers

What is the term used to describe the combination of land, labour, physical capital, and human capital in production?

  • Market equilibrium
  • Human 2 Economics Barmer
  • Economic trade-offs
  • Factors of production (correct)

    • In Palampur, what percentage of people depend on farming for their livelihood?

  • 75% (correct)
  • 90%
  • 50%
  • 35%

    • Which term is used to describe the land, labour, and fixed capital specifically in production?

  • Working capital (correct)
  • Physical resources
  • Dynamic assets
  • Production constraints

    • What is the term used for the combination of land, labour, physical capital, and human capital in the context of Palampur's farming activities?

    <p>Factors of production</p> Signup and view all the answers

    Which term is used in the text to describe the conversion of wastelands into productive land through cultivation?

    <p>Production intensification</p> Signup and view all the answers

    What is the third requirement for production mentioned in the text?

    <p>Physical capital</p> Signup and view all the answers

    Which term refers to the workers who provide the necessary labor for production?

    <p>Human capital</p> Signup and view all the answers

    What types of inputs are considered as fixed capital in production?

    <p>Tools, machines, buildings</p> Signup and view all the answers

    Which of the following is NOT a component of working capital according to the text?

    <p>Land</p> Signup and view all the answers

    What is the second requirement for production mentioned in the text?

    <p>Human capital</p> Signup and view all the answers

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