Production

Q. Raw material and money in hand are examples of ________ capital.

1. working
2. physical
3. human
4. fixed

Q.

What are raw materials and money in hand called?

Q.

Do all capital goods fall under final goods?

Q. What do you call an activity that is meant to satisfy human needs and wants?

1. Consumption
2. Production
3. Distribution
4. Factors of production

Q. The variety of inputs required at every stage of production is known as physical capital.

1. False
2. True

Q. Who among the following render essential services like police service, defence, education, and public healthcare in most countries?

1. Farmers
2. Tradesmen
3. Entrepreneurs
4. Government

Q. Raw materials and money are referred to as working capital.

1. False
2. True

Q. What kind of capital is required as a priority to set up a flour processing unit?

1. Fixed capital
2. Working capital
3. Human capital
4. Social capital

Q. Satisfying power of a commodity is referred to as ________

1. utility
2. want
3. need
4. produce

Q. Mr. Ray is an author. Which of the following statements about him is true?

1. Mr. Ray is a producer.
2. Mr. Ray is a consumer.
3. Mr. Ray is both a producer and a consumer.
4. Mr. Ray is neither a producer nor a consumer.

Q. Put the items in the right categories.

1. Insurance
2. Food
3. Pizza
4. Car

Q. The basic essentials required for living are known as _________.

1. wants
2. demands
3. utilities
4. needs

Q. Mr. Ray is an author. Which of the following statements about him is true?

1. Mr. Ray is a producer.
2. Mr. Ray is a consumer.
3. Mr. Ray is both a producer and a consumer.
4. Mr. Ray is neither a producer nor a consumer.

Q. Which of the following words relates to services?

1. Tangible goods
2. Intangible goods
3. Needs
4. Utilities

Q. People who create and provide goods and services are known as .

1. suppliers
2. consumers
3. distributors
4. producers

Q. Assertion (A): People are generally both consumers and producers.

Reason (R): Production is any activity that is meant to satisfy people's needs and wants.

1. Both A and R are incorrect.
2. A is correct, and R is incorrect.
3. Both A and R are correct, and R is the correct explanation for A.
4. Both A and R are correct, but R is not the correct explanation for A.

Q. Who among the following render essential services like police service, defence, education, and public healthcare in most countries?

1. Farmers
2. Government
3. Tradesmen
4. Entrepreneurs

Q. Which of the following factors of production is fixed?

1. Land
2. Labour
3. Capital
4. Entrepreneurship

Q. <!--td {border: 1px solid #ccc;}br {mso-data-placement:same-cell;}--> Which of the following statements is correct?

1. Human beings are only producers.
2. Human beings are only consumers.
3. Human beings are both producers and consumers.
4. Human beings are neither producers nor consumers.

Q. refer to the basic essentials required for living.

1. Needs
2. Wants
3. Desires
4. Profits

Q. Which of the following factors of production is fixed?

1. Land
2. Labour
3. Capital
4. Entrepreneurship

Q. <!--td {border: 1px solid #ccc;}br {mso-data-placement:same-cell;}--> Which of the following statements is correct?

1. Human beings are only producers.
2. Human beings are only consumers.
3. Human beings are both producers and consumers.
4. Human beings are neither producers nor consumers.