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प्रश्न
Answer the following question.
Why does an economic problem arise? Explain.
उत्तर
The following are the three main causes that give rise to the central problems in an economy.
- Unlimited Human Wants - Human wants are never-ending and new wants keep arising.
- Limited Economic Resources - In relation to the unlimited wants, the resources required to satisfy them are relatively scare and limited in supply.
- Alternative Use of Resources - Resources are not only scarce but also have alternative uses. This implies that a choice has to be made among the various alternative uses of resources.
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संबंधित प्रश्न
Why do central problems of an economy arise?
Define Consumption Goods.
Find Net Value added at Market Price:
|
S.No |
Items |
Amount |
|
(i) |
Depreciation (Rs) |
700 |
|
(ii) |
Output sold (units) |
900 |
|
(iii) |
Price per unit of output (Rs) |
40 |
|
(iv) |
Closing stock (Rs) |
1,000 |
|
(v) |
Opening stocks (Rs) |
800 |
|
(vi) |
Sales tax (Rs) |
3,000 |
|
(vii) |
Intermediate cost (Rs) |
20,000 |
Discuss the central problems of an economy.
What is the full form of QRs?
Assertion (A): Car purchased by the hotel for the purpose of tourism facilitation is a Capital Good.
Reason (R): The car is purchased by the hotel to provide long term service to the consumers.
What is the root cause of all economic problems?
Choose the correct statement.
Which of the following is not a central problem of an economy?
Refer to the passage below and answer the following question.
| The economic problem is the problem of choice. The problem of choice has to be faced by every economy of the world, whether developed or developing. Human beings have wants that are unlimited. Economic problems are reflected in the form of Central or Basic Problems of an economy. Any economy whether market, centrally planned or mixed has to face these problems. In economic analysis, the concept of opportunity cost is widely used. Opportunity cost is defined as the cost of an alternative opportunity given up or surrendered. |
The problem of choice is faced by ______
What all is covered under the allocation of resources?
Assertion (A): The flour purchased by a baker is considered an intermediate good.
Reason (R): The flour is used for the production of bread, cakes, and biscuits to be sold to the consumer.
Identify the correctly matched item from Column A to that of Column B:
| Column A | Column B | ||
| (1) | Tea Industry | (a) | Monopoly |
| (2) | Ship Building industry | (b) | Perfect Competition |
| (3) | Oil Producing Countries | (c) | Oligopoly |
| (4) | Food Market | (d) | Monopoly |
