____ 49. Which factor receives the profit from production? a. Land b. Labor c. C

Question

____ 49.   Which factor receives the profit from production?

a.

Land

b.

Labor

c.

Capital

D. Entrepreneurship          

        

45. The distinguishing feature of the land market is that the

a.

supply is highly inelastic.

b.

supply is highly elastic.

c.

demand is highly inelastic.

d.

demand is highly elastic.

a.

Land

b.

Labor

c.

Capital

D. Entrepreneurship          

        

45. The distinguishing feature of the land market is that the

a.

supply is highly inelastic.

b.

supply is highly elastic.

c.

demand is highly inelastic.

d.

demand is highly elastic.

Explanation / Answer

Answer49 d Entrepreneuship because labour gets wages and salaries, land gets rent, capital gets interest and entreprensuer gets profit

Answer45: Its supply is highly inelastic because land in econmics refer to all natural resources useful in proudction and its supply cannot be increased by offering any amount of price.

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