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Subject
Income Inequalityeconomics-mcqs › income-inequality
Published
1 Jun 2019
Last updated
28 May 2026

Browse all Income Inequality MCQs

How does the supply of land for a specific purpose typically behave?

Multiple choice question for Income Inequality. Select an option, then review the explanation below.

Choose the correct answer

Explanation

The supply of land for a particular use generally slopes upward because as the value of land in that use rises, more landowners are willing to allocate their land for that purpose, increasing the quantity supplied. This contrasts with the idea that land supply is perfectly inelastic, as land can shift between uses depending on economic incentives.

Practice related questions from the same subject.

  1. 1.Which of the following best describes the Benazir Benefit Income Scheme?
  2. 2.Which category of tax does VAT best represent?
  3. 3.When a tax can be transferred, what determines the actual burden of the tax?
  4. 4.What does tax incidence refer to?
  5. 5.What does a progressive income tax system imply about the tax rate for individuals with higher earnings?

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