Test your knowledge of economics resources with this quiz! Learn about property...

Decrease in time and efforts, increase in the use of machinery, decrease in large scale production at cheaper cost

Decrease in productivity, decrease in dexterity and skill

Increase in productivity, increase in dexterity and skill, stimulates inventions, diversity of employment (correct)

Decrease in inventions, economy in the use of machinery and tools

Capital and entrepreneurial ability

Land and labor

Property resources and human resources (correct)

Natural resources and financial resources

The supply of land is relatively elastic from both points of view

The supply of land is perfectly inelastic from the point of view of the economy and relatively elastic from the point of view of a firm (correct)

The supply of land is perfectly inelastic from both points of view

The supply of land is relatively elastic from the point of view of the economy and perfectly inelastic from the point of view of a firm