This is not a function of the entrepreneur:
A. Supervise B.Innovate C.Lend money D.Prepare plan
Economics
Every factor of production gets reward equal to its:
A. Cost B.Marginal product C.Price D.Increasing return
According to Keynes, interest is a payment for:
A. Use of durable goods B.Use of capital C.Use of money D.Use of land
In economics capital refers to:
A. Money B.High quality goods C.Trade mark D.Machinery and factories
If rate of interest is 10% the PV (present value) of Rs. 100 received in 1 years time is:
A. 90 B.90.9 C.95 D.110
Professor Knight is famous for his theory of:
A. Rent B.Profit C.Population D.Wages
Profits:
A. Are residual payment B.Are pre-determined C.Are fixed contract D.Are always higher than wages
Under Marginal productivity Theory, reward for labour is determined by:
A. Owner B.Government C.Labour D.Marginal product
Profits arise because an entrepreneur:
A. Prepares plan B.Innovates C.Lends money D.Both (a) and (b)
The economist Ricardo argued that prices were _____ because land rents were _______
A. High, High B.Low, High C.High, Low D.Low, Low