WorksheetsBasic Problems of An Economy
Total questions: 12
Worksheet time: 7mins
Any economy faces the basic problem of (a) .
One who transforms natural objects into resources and utilises the for the benefit of his own and the society is _________________ resource
Human
Man-made
Natural substances whose location and condition have been determined and which are already being used by the present generation are _________________ resources
ubiquitous
localised
potential
actual
Forests are non-renewable resources.
True
False
Give two examples of biotic resources
That developmental strategy which manages the resources for increasing long term well being of the people is referred to as (a) development.
What is the main cause of economic problem?
Unlimited wants, limited resources, alternative use of these resources
What to produce?, How to Produce, For whom to Produce?
What to produce?, deals with ________________
technique of production
quality of production
quantity of production
Technique of production that makes more use of machines and less use of human labour are _____________ technique.
Labour intensive
Capital Intensive
For whom to produce?, deals with the problem of
Production
Processing
Purchasing
Distribution
(a) resources are also called as Flow Resources.
Air, water, soil, rocks are examples of _______________ resources
Biotic
Abiotic
Non-renewable
Localised
