Advertisements
Advertisements
प्रश्न
Identify the incorrect statement from the following:
पर्याय
Capital is a means and its end is income.
Money is a factor of production.
All capital is wealth, but all wealth is not capital.
Land is not a produced means of production like capital.
उत्तर
Money is a factor of production.
Explanation:
- Capital is a means and its end is income: This is correct. Capital is used to generate revenue through production.
- Money is a factor of production: This is incorrect. Money itself is not considered a factor of production; it is a medium of exchange used to facilitate transactions and acquire factors of production like labour, land, and capital.
- All capital is wealth, but all wealth is not capital: This is correct. Capital is a subset of wealth used in production, but not all forms (e.g., personal possessions) are used as capital.
- Land is not a produced means of production like capital: This is correct. Land is a natural resource, not something human effort produces like capital.
संबंधित प्रश्न
Explain time utility with an example.
Choose the correct term for the given definition. 'An activity which creates an economic value'.
A farmer in Punjab transports wheat from the farm to a flour mill. Is this activity considered as production? Why?
What do you mean by factors of production?
What are the four basic factors of production?
According to 'Adam Smith' production means production of material goods only.
Choose the correct term for the given definition.
Any activity which creates present and future utility.
Explain the meaning of production.
With the help of an example, explain the process of creation of form utility.
State three factors on which production depends.
'Land is the original source of all material wealth' in this context explain four determinants that influence the productivity of land.
