The reward to land as a factor of production is
Profit
Rent
Interest
Wage
Correct answer is B
No explanation has been provided for this answer.
Greater inter-dependence among workers in production is associated with
Utility
Manufacturing
Division of labour
Factory workers
Correct answer is C
No explanation has been provided for this answer.
The law of diminishing marginal utility state that, the more a commodity is consumed the
Higher the satisfaction derived from an additional unit
Higher the price to be paid
Lower the quantity supplied
Lower the rate of increase in the total utility derived
Lower the rate of increase in the total utility derived
Correct answer is D
No explanation has been provided for this answer.
At the highest level of total utility, marginal utility is
Negative
Positive and falling
Positive and rising
Zero
Correct answer is D
No explanation has been provided for this answer.