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- Income Inequalityeconomics-mcqs › income-inequality
- Published
- 1 Jun 2019
- Last updated
- 28 May 2026
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.
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.
More Income Inequality MCQs
Practice related questions from the same subject.
- 1.Which of the following best describes the Benazir Benefit Income Scheme?
- 2.Which category of tax does VAT best represent?
- 3.When a tax can be transferred, what determines the actual burden of the tax?
- 4.What does tax incidence refer to?
- 5.What does a progressive income tax system imply about the tax rate for individuals with higher earnings?