Rajasthan Board Class 9 Social Science Chapter 16: BYJU’S Important Questions & Answers
Provided here are the RBSE Class 9 Social Science Chapter 16 Economics and Economy Solutions, for your reference. The solutions of the RBSE Class 9 here are accurate, elaborate and drafted as per the standards of the board. Practice all of these and excel in your exams.
RBSE Class 9 Social Science Chapter 16 Objective Questions: Textbook Important Questions and Solutions
Q1. Which of the following is an economic activity?
(a) the friendly match played by two classes of a school
(b) the care of children by parents
(c) the teaching of teachers in a school
(d) the prayer assembly in school
Answer: (c) the teaching of teaching in a school
Q2. The form of Indian Economy is-
(a) Capitalist
(b) Socialist
(c) Mixed
(d) None of these
Answer: (c) Mixed
Q3. Which of the following economic systems provide the right to private property?
(a) Capitalist
(b) Socialist
(c) Both capitalist and socialist
(d) None of these
Answer: (a) Capitalist
Q4. Which of the following is not a feature of a mixed economy?
(a) guardian of personal liberty
(b) lack of class struggle
(c) More satisfaction to the consumer
(d) Control over economic cycles
Answer: (c) More satisfaction to the consumer
RBSE Class 9 Social Science Chapter 16 Very Short Answer Type Questions: Textbook Important Questions and Solutions
Q1. What is an economy?
Answer: A system or an organization by which people earn their livelihood is called an economy.
Q2. State the meaning of economics.
Answer: The science which studies the economic activities of a society is called economics. Or, we can also say that Economics is the study of the economic activities of a man.
Q3. Write the names of types of economy.
Answer: Economy can be divided into 3 categories:
i) Capitalistic Economy
ii) Socialistic Economy
iii) Mixed Economy
Q4. Write the names of factors of production.
Answer: The factors of production are as follows:
i) Land
ii) Labour
iii) Capital
iv) Entrepreneur
RBSE Class 9 Social Science Chapter 16 Short Answer Type Questions: Textbook Important Questions and Solutions
Q1. What are Economic activities?
Answer: Economics activities refer to all those activities that are performed by humans in order to earn their livelihood. Such activities can be defined in terms of money.
Based on the things or materials required, economic activities can be categorized as:
i. Production
Production is converting raw materials into goods that can be consumed or used to meet the needs.
ii. Producer
The person who does production of materials and services and receives profits in return is called the producer.
iii. Consumption
Consumption means to use or consume products or services.
iv. Exchange
Exchange implies trading products and services of oneself for products and services rendered by others to satisfy the needs of both, the consumer as well as the producer. For instance, a consumer buys a product from the producer and pays him money. This is called an exchange.
v. Distribution
In order to produce products and services, the producer uses resources such as land, labour, capital and entrepreneur.
The money received by the consumer for the rendered products and services is then divided into these resources as well. This division of income among all the resources is called distribution.
Q2. Differentiate between wealth and capital.
Answer: All goods and human classifications that are useful in the production of goods and services and have monetary value are called wealth. Some part of wealth is left unused while some part is used to produce more wealth.
Capital is that part of the human wealth which is utilized to make more wealth.
Q3. Explain the concept of an economy with examples.
Answer: A system or an organization by which people earn their livelihood is called an economy.
For instance, sugar is produced in a sugar mill. For this, a producer gets sugarcane from a farmer, machines from industries, electricity from power plants and later, means of transport to transport sugar that is produced. This entire system of mutual cooperation is called an economy.
Q4. What is the difference between a socialist and a capitalist economy?
Answer: Capitalistic economy is an economy where the factors of production are owned and controlled by private individuals. The aim of such an economy is private welfare and profit.
Socialist economy is an economy where the whole society owns the means of production through the government. All economic activities are controlled by a central authority with the aim of collective welfare.
Q5. Explain the relationship between production and consumption.
Answer: Production is the conversion of raw materials into finished goods which can satisfy human needs.
For instance, a farmer is the producer of grains.
Consumption is the utilization of goods and services to satisfy one’s needs. For instance, grains are boiled and eaten by person X, then X is the consumer of the product ‘grains’.
Q6. Mention the properties of Mixed economy.
Answer: The properties of Mixed Economy are:
i. Coexistence of public and private sectors
ii. Administrative price
iii. Economic planning
iv. Individual liberty
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