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Biopiracy

In Economics,...

Question

In Economics, the term "land" includes all that which is available free of cost from 'nature' as a gift to human beings.

A

True

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B

False

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Solution

The correct option is A True
The above statement is true as land is a free gift of nature.Its supply is fixed and limited in area.

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Similar questions

Q. Natural resources, also termed as land in economics, include all those natural gifts which are on the surface, below the surface and above the surface of the earth.

Q. Fill in the blanks with appropriate alternatives given in the brackets:

i. Land is subject to ___________ returns. (increasing/ constant/ diminishing/ negative)

ii. ______________ is regarded as primary factor of production. (Land/ Labour/ Capital/ Entrepreneur)

iii. Capital is a __________ factor of production. (real/ artificial/ natural/ free)

iv. Land is a free gift of _______________. (nature/ human/ foreign/ nation)

v. __________ is a leader of organisation. (A capitalist/ A consumer/ A seller/ An organizer)

Q. Question 3
The most appropriate definition of a natural resource is that it is a substance/commodity that is

(a) present only on land
(b) a gift of nature which is very useful to mankind
(c) a man-made substance placed in nature
(d) available only in the forest

Q. In economics, the term labour means human effort or activity which includes _________.

Q. Fill in the blanks with appropriate alternatives given in the bracket.
Land is a free gift of _____ .
[nature, human, foreign, nation]

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