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प्रश्न
Why do central problems of an economy arise?
उत्तर
Central problems arise in an economy because
1. Human wants are unlimited.
2. Resources are scarce in relation to their wants. The resources available with each individual to satisfy their needs are limited. These individuals have to rationally manage their expenditure to promote economic interest.
3. Resources have alternative uses. For example, land may be used for agricultural activity or for industrial purpose.
APPEARS IN
संबंधित प्रश्न
Answer the following question.
Explain the central problem for whom to produce.
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 |
Answer the following question.
Why does an economic problem arise? Explain.
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?
Goods purchased for the following purpose are final goods:
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 |
