Goyal Brothers Prakashan solutions for Economic Application [English] Class 10 ICSE chapter 4 - Factors of Production [Latest edition]

Factors of production are ______.

______ is not a primary factor of production.

Choose the correct term for the given definition. 'An activity which creates an economic value'.

Which of the following is not a characteristic feature of land?

Identify the correct statement from the following.

______ is a produced means of production.

Identify the incorrect statement from the following:

Advantage of division of labour to the workers.

When the same work is done by two or more persons it is called ______.

______ is an example of the geographical division of labour.

Match the following and select the correct option.

Read the given statements carefully and select the correct option that follow:

1. Land is an active factor of production
2. Capital is produced means of production

According to 'Adam Smith' production means production of material goods only.

The reason behind destruction of ecosystem ______.

Which of the following is not considered labour in economics?

Match the following and select the correct option.

Savings are essential for capital formation.

Tick the one which does not belong to the following group.

Observe the relationship of the first pair of words and complete the second pair.

Office furniture; Fixed capital

Power of running the plant ______

Choose the correct term for the given definition.

Any activity which creates present and future utility.

Shifting cultivation involves ______.

Land is considered a passive factor of production because ______.

Choose the correct order of capital formation.

Construction of dams always have positive effects.

Observe the relationship of the first pair of words and complete the second pair.

Chartered Accountant : Skilled labour

Welder ______.

Which of these is not a function of an entrepreneur?

Land is hetrogeneous because ______.

1. It varies in fertility
2. It varies in productivity
3. It varies in density of population

Which of these will NOT be considered as capital?

An entrepreneur's income can be negative.

Which of the following used in the production of textile by a firm would be classfied as land in economics?

Which of these features of capital as a factor of production makes it different from other factors of production?

Mobilisation of savings is an important step in ______.

Which of the following will affect the productivity of land adversely?

Emission of greenhouse gases is largely due to ______.

Efficiency of Indian labour is low because of ______.

Which of the following is not a reason for deforestation?

Which of the following statements is TRUE?

______ capital is used once in production whereas ______ capital can be used for long time.

Which of the following statements is NOT a necessary condition for the division of labour?

Identify the active factors of production.

The transformation of resources into economic goods and services is called ______.

Interest is a payment for ______.

When an entrepreneur appoints managers and supervisors, which function is he performing?

Which of these factors of production is called produced means of production?

Which of the following types of capital can be used only for a specific purpose?

Interest is a factor income for ______.

Which of the following goods will be considered circulating capital?

Which of the following factors of production has a unique supply curve?

All factors of production are equally mobile.

A labourer's income can be negative.

The Income of an entrepreneur is ______.

Sunshine is considerd land in Economics

Use of high yielding variety of seeds of related to productivity of ______.

Which factor of production is not a hired factor?

The reward of an entrepreneur is in the nature of ______.

Complete division of labour cannot be implemented for ______.

Which of the following causes low efficiency of Indian labour?

Innovation is the implementation of new ideas and changes into reality-this function is carried out by ______.

Mining operations result in ______.

Match the following:

Choose the correct alternative:

Read the following statements carefully and choose the correct alternative:

Assertion (A): Land is a passive factor of production.

Reason (R): Capital is subject to depreciation.

Read the following statements carefully and choose the correct alternative:

Assertion (A): Labour is perishable.

Reason (R): Capital is an active factor of production.

Match the following:

Choose the correct alternative:

Explain the meaning of production.

With the help of an example, explain the process of creation of form utility.

Give two characteristic features of land as a factor of production.

Explain two functions of land.

Land is heterogeneous in nature. Explain.

Land can be destroyed by man.

Land is mobile

Land is a free gift of nature.

Supply of land is unlimited.

Which of the following is NOT a land? (Amenable to human control)

Why is land considered a passive and an indestructible factor of production.

What is meant by labour in economics?

Define labour.

Name the factor of production to which uncertainty-bearing belongs.

Name the factor of production whose supply is fixed.

Mention the characteristics of Labour.

Which of the following is considered as labour in economics?

Define capital.

Define an entrepreneur.

What is regarded as a factor of production and why?

Briefly explain why labour is considered to be the means and end of production.

Explain two factors on which the supply of labour depends.

State two characteristics of capital as a factor of production.

Why is capital considered an important factor of production in the modern world? Give two reasons in support of your answer.

Define the division of labour.

Explain one benefit of division of labour.

Give two reasons for low efficiency of Indian workers.

Mention two ways by which efficiency of labour can be improved.

State Distinguish between the simple division of labour and complex division of labour?

Distinguish between an entrepreneur and an organiser.

Explain briefly two factors affecting the productivity of the land.

Suggest two measures to improve productivity of land.

An entrepreneur can use either capital or labour in the production process. Out of the options A, B, C and D given below, which two would the entrepreneur choose if he had to replace labour with capital? Justify your answer.

Which of the following will be treated as labour in economics? Give a reason for each.

1. Preparation of food by a housewife.
2. Singing for ones own pleasure.
3. Driving his master's car by a driver.
4. Playing cricket by Mahendra Singh Dhoni.

Briefly explain the impact of division of labour on cost of production by a firm.

Explain any three disadvantages of division of labour.

The extent of division of labour depends on the size of the market. Briefly explain.

State two characteristics of capital as a factor of production.

Why is capital called a 'produced means of Production?

Define capital formation.

Capital is a passive factor of production. Justify the statement.

Explain in brief the term sunk capital.

Distinguish between fixed and circulatory capital.

Distinguish between sunk and floating capital. Give an example of each.

Capital is the result of past labour. Briefly explain.

What is the difference between land and capital?

Define real capital.

Give two examples of real capital.

Differentiate between capital and capital formation.

Classify the following into fixed capital and working capital. Give reasons:

A television in a hotel room.

Classify the following into fixed capital and working capital. Give reasons:

Iron ore in steel plant.

Out of the following capital used in the cotton textile industry classify the following as fixed or circulating capital.

1. Cotton yarns
2. Dyes
3. Power
4. Weaving machines
5. Factory buildings
6. Machines
7. Stocks of raw material lying in a factory
8. A car owned by a taxi-driver
9. Coal used in a factory
10. Cotton used by a doctor

State any two factors which determine capital formation in a country.

'Savings is essential for capital formation.' Explain.

Explain in brief the first stage of capital formation.

State two reasons for low capital formation in a developing economy.

Briefly explain the impact of constructing dams on the ecosystem.

Differentiate between an entrepreneur and labour on the basis of:

1. Nature of work
2. Nature of risk involved

What is the difference between a labourer and an entrepreneur?

Differentiate between an entrepreneur and labour on the basis of:

1. Nature of work
2. Nature of risk involved

'An entrepreneur is an organiser but an organiser need not be an entrepreneur'. Explain.

"Entrepreneurs are innovators" said Schumpeter. Explain briefly.

Mention five qualities of a good entrepreneur.

State two active factors of production. Give reasons to support your answer.

State an adverse impact of urbanisation on the ecosystem.

Mention two adverse effects of mining on the environment.

Briefly explain two impacts of shifting cultivation on the eco-system.

Mining operations can destroy the eco system. Give two reasons to support the statement.

State any two differences between an entrepreneur and other factors of production.

What do you mean by 'innovative ability' of an entrepreneur?

Explain complex division of labour with the help of an example.

Define land.

Explain any five characteristics of the land.

Suggest two measures to improve productivity of land.

Define production.

State three factors on which production depends.

Define land.

State two factors that affect the productivity of the land.

'Land is the original source of all material wealth' in this context explain four determinants that influence the productivity of land.

Explain four reasons as to why land is considered to be an important factor of production.

What is meant by Ecosystem?

Mention two adverse effects of mining on the environment.

Why is labour an important factor of production?

Explain the following characteristic of labour:

Labour cannot be separated from the labourer.

Explain the following characteristic of labour:

Labour can improve its efficiency.

Explain the following characteristic of labour:

Labour is perishable.

Discuss any three advantages of the division of labour.

Explain any three disadvantages of division of labour.

Define the division of labour.

Explain three ways by which division of labour is beneficial to producers.

Differentiate between mental and physical labour.

State four ways in which the division of labour will influence production in an economy.

Define 'efficiency of labour'.

Explain any three benefits of efficiency of labour.

Explain three causes of low efficiency of labour in India.

Explain briefly the meaning of efficiency of labour.

The Indian labour suffers from low efficiency. Explain your answer with three reasons for low efficiency of Indian labour.

Explain briefly the meaning of efficiency of labour.

Explain three causes of low efficiency of labour in India.

Suggest one measure to improve efficiency of labour?

Name two industries where division of labour is possible.

Explain any three disadvantages of division of labour.

What is considered as capital in economics?

Explain any two characteristics of capital.

Define capital.

Explain any two characteristics of capital.

Define capital.

Mention two functions of capital.

Out of the following capital used in the cotton textile industry classify the following as fixed or circulating capital.

1. Cotton yarns
2. Dyes
3. Power
4. Weaving machines
5. Factory buildings
6. Machines
7. Stocks of raw material lying in a factory
8. A car owned by a taxi-driver
9. Coal used in a factory
10. Cotton used by a doctor

What is an entrepreneur?

State two important functions of an Entrepreneur.

State any two differences between an entrepreneur and other factors of production.

Mention five qualities of a good entrepreneur.

State two ways through which an entrepreneur contributes towards economic development.

What is the meaning of capital formation?

Explain three important stages of capital formation.

What do you understand by the term 'Capital formation'?

Explain any three factors which affect capital formation.

Explain three causes of low capital formation in India.

State one important function of capital.

Differentiate between:

Capital and wealth

Differentiate between:

Capital and income

What is the difference between land and capital?

Explain the following concept with examples.

Industrialisation

Explain four impacts of industrialisation on the environment.

What do you mean by migration?

Explain three ways by which migration impacts the ecosystem.

Define eco-system.

Explain four impacts of industrialisation on the environment.

Explain any two impacts of Automobiles on the eco-system.

Explain any two impacts of Dwelling units on the eco-system.

Explain the following concept with examples.

Urbanisation

Explain four impacts of urbanization on the environment.

Explain the following concept with examples.

Urbanisation

Explain four impacts of urbanization on the environment.

Define land.

Land is heterogeneous in nature. Explain.

State two functions of land as a factor of production.

What is the meaning of the productivity of land?

Explain four characteristics of land as a factor of production.

Improved technology affects the productivity of land. Explain this statement with the help of suitable examples.

Suggest two measures to improve productivity of land.

Land is one of the most important factors of production. In this context, mention two ways in which the efficiency of land can be enhanced?

How is land as a factor of production differ from any other factor of production?

Explain briefly the meaning of efficiency of labour.

Give two reasons for low efficiency of Indian workers.

What do you mean by factors of production?

What are the four basic factors of production?

State two differences between labour services provided by a surgeon and a farmer.

Give the different forms of division of labour.

State Distinguish between the simple division of labour and complex division of labour?

Give two limitations of a division of labour.

Define capital.

State two characteristics of capital as a factor of production.

Mention two functions of capital.

Distinguish between fixed capital and working capital.

Distinguish between stocks of capital goods and capital formation using a suitable example.

Distinguish between sunk and floating capital. Give an example of each.

Using suitable examples, classify capital into fixed capital and circulating capital.

Distinguish between real capital and money capital.

Which of the two is more important in economic growth (higher impact on national income) real capital and money capital?

Give three causes of slow rate capital formation in India.

How can capital formation be raised in India?

What is an entrepreneur?

State two important functions of an Entrepreneur.

Distinguish between an entrepreneur and an organiser.

'Entrepreneur is not labour even though there are human factors associated with the same business'. Explain.

Explain the importance of an entrepreneur.

Mention five qualities of a good entrepreneur.

"Entrepreneurs are innovators" said Schumpeter. Explain briefly.

Define land.

Explain any five characteristics of the land.

Define 'efficiency of labour'.

State four factors which determine the efficiency of labour.

Define the division of labour.

Discuss any three advantages of the division of labour.

Define labour.

Mention the characteristics of Labour.

With respect to division of labour, state the following:

An example of vertical division of labour.

With respect to division of labour, state the following:

An example of horizontal division of labour.

With respect to division of labour, state the following:

Two advantages to the producers.

With respect to division of labour, state the following:

Two disadvantages to the workers.

Differentiate between mental and physical labour.

State four ways in which the division of labour will influence production in an economy.

With respect to the efficiency of labour answer the question that follow.

On what basis can the efficiency of labour be measured?

State four factors which determine the efficiency of labour.

Mention two ways by which efficiency of labour can be improved.

Explain any two characteristics of capital.

Define capital formation.

Explain three causes of low capital formation in India.

Define capital formation.

Explain three important stages of capital formation.

Explain how capital is a produced means of production.

State two reasons for low capital formation in a developing economy.

Discuss any two suggested remedies for low capital formation in India.

Discuss three ways by which an entrepreneur promotes economic growth.

'An entrepreneur is an organiser but an organiser need not be an entrepreneur'. Explain.

Classify the following capital goods:

Machines

Classify the following capital goods:

Cotton yarn

Classify the following capital goods:

Oil mill

Classify the following capital goods:

Bridge

Differentiate between labour and land.

Differentiate between an entrepreneur and labourer on the basis of the nature of work.

Differentiate between an entrepreneur and labourer on the basis of the nature of risk involved.

State any two differences between an entrepreneur and other factors of production.

Mention five qualities of a good entrepreneur.

The income earned by an entrepreneur is residual in nature. Explain.

Define eco-system.

Explain four impacts of industrialisation on the environment.

Explain any two impacts of Automobiles on the eco-system.

Explain any two impacts of Dwelling units on the eco-system.

Explain four impacts of urbanization on the environment.

Define eco-system.

Explain any three such changes causing destruction to the ecosystem.

Define urbanization

Define the term Industrialisation.

Define the term Migration.

State any two differences between an entrepreneur and other factors of production.