Economy

Q. The collection of honey is a -------------- occupation.

1. Tertiary
2. None of the above
3. Primary
4. Secondary

Q. The producers of food grains are ----------------

1. Farmers
2. Shop keepers
3. Manager
4. Labour

Q. Economics is a subject that studies the cost of ________, _______ and _______.

1. manufacturing
   
2. buying
   
3. consuming
   
4. selling things
   

Q. Which of the following examples can be used to understand economics.

1. Raju sells a chocolate worth ₹8 for ₹10.
   
2. Harshit buys a ₹20 worth pen for a discounted rate of ₹15
3. Raju got an extra ₹1 by selling a ₹8 chocolate for ₹9.
   
4. Harshit liked the chocolate that he purchased and ate it as soon as he got it.
   

Q. Services can be stored, felt, tasted by the consumer.

1. False
2. True

Q. ____________ defines economics as a science of production, distribution and consumption of wealth.

1. John Stuart Mill
2. Malthus
3. Thomas Carlyle
4. JB Say

Q. Why is trade so important?

Q. Which of the following statement(s) is/are correct?

1. Hitesh made a chair with the help of wooden logs that he got from a tree. Here the tree is the producer.
   
2. Ranjeet uses the chair made by Hitesh. Ranjeet is a consumer.
   
3. The economy plays a major role between a producer and a consumer.
   
4. Economics determines how resources are distributed among members of a society.
   

Q. People who make things that you use are known as consumers.

1. True
2. False

Q.

explain about economics