A. When the market demand is sufficiently large
B. When the market is small
C. When the market is neither too small nor too large
D. Urder all types of markets
Related Mcqs:
- According to Adam Smith the division of labour contributes to development because:
A. It leads to an increase in dexterity among workers
B. It leads to reduction in production time
C. It leads to invention of better machines and equipment
D. All the above factors - Which of the following is not true about Adam Smith’s views about development?
A. He supported the idea of division of labour
B. He laid stress on level of productivity
C. He stressed that division of labour did not depend on the size of the market
D. He laid stress on the accumulation of capital - According to Adam Smith the wage rtes fall to the subsistence level:
A. Under stationary conditions
B. During periods of capital accumulation
C. Under both the above stated conditions
D. Under none of the above stated conditions - The capital accumulation which according to Marx, contributes to development is rendered possible by:
A. Technological improvement
B. Reduction of wages
C. Increase in working hours
D. None of the above - Which one of the following writers attributed the growth of social products to division of labour?
A. Adam Smith
B. Herbert Spencer
C. Karl Marx
D. All the above - “If political leadership fails to emerge, there is likelihood of military taking over power in developing countries. Radical student groups or labour may try to raise revolution but they are not likely to compete with the military. Military intervention, rule and withdrawal from politics is clearly related to a society’s level of political development.” In the context of Political Development the assumption in the above passage is that:
A. Political leadership is not an effective instrument
B. Military intervention is inevitable for development
C. National integration results from military intervention
D. Military is an agent of social change - First time Labour Party formed government in 1924 at that time the Leader of the Labour Party was:_____________?
A. Ramsay Mcdonld
B. Earl of Derby
C. J.H. Wilson
D. None of them - Population contributes development by ___________?
A. Providing labour force
B. Consuming the products
C. Neither of the above
D. Providing labour force as well as consuming products - According to Laski ‘private property’ contributes to:__________?
A. The prosperity of the society
B. The development of society
C. The weakening of society
D. None of the above - The labour theory of value which formed one of the feature of theory of development offered by Racardo was: ____________?
A. His original idea
B. Borrowed from Adam Smith
C. Borrowed from Marx
D. None of the above
