Maharashtra State BoardHSC Commerce 12th Board Exam
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Fill in the Blank with Appropriate Alternative Given Below Land is Subject to ___________ Returns. - Economics

MCQ

Fill in the blank with appropriate alternative given below

Land is subject to ___________ returns.

Options

  • increasing

  • constant

  • diminishing

  • negative

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Solution

Land is subject to diminishing returns.

Explanation:
Land is a fixed factor of production. When more and more units of labour and capital are applied to land, the total output increase  but only at a decreasing rate.
Thus, we can say that land is subject to diminishing returns.

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APPEARS IN

Micheal Vaz Economics HSC 12th Standard Maharashtra State Board
Chapter 7 Factors of Production
Exercise | Q 1.1 | Page 60
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