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Class: IX
Economics: The Story of Village Palampur
Read page number 6 to 12 and write the answer of the following questions:
1. Explain the difficulties faced by small farmers due to the lack of capital.
2. Define the term Human Capital.
3. What do you mean by non farm activities? Give examples and explain briefly.
4. What can be done so that more non- farming activities can be started in the villages?
5. Differentiate between land and labour as factors of production.
6. Land as well as capital are scarce, yet there is a basic difference between the two. State the difference.
7. How do medium and large farmers obtain capital for farming? How are they different from small farmers?
8. What are the different factors of production? Write about each in short.
Answers
Answer:
Explanation:
- The difficulties faced by small farmers due to the lack of capital are :-
- they cannot use modern technology .
- they depend on rain
- they cannot use the HYV seeds
- The crop field gives lower productivity, not good quality of crop can be grown.
2. Human capital :The crop field gives lower productivity, not good quality of crop can be grown.
3.People working in activities other than agriculture are called non-farming activities.
Two types of non-farming activities are as:
(i) Dairy: People feed their buffaloes and then sell their milk in nearby villages.
(ii) Transport: Many vehicles like rickshaw, jeep, trucks, ferry etc., by which people and goods are transported from one place to another.
4. The more non- farming activities can be started in the villages:-
(i) Banks should provide loans at low interest rates so that the poor villagers can start some business to help them earn a living.
(ii) Government should be more active and start effective employment generating schemes.
(iii) Government should provide training to the villagers in different small crafts.
(iv) Government should provide facilities for transportation and selling of locally manufactured goods of the villagers in the cities.
(v) Industries can be set up in rural areas.
5. LAND
1) Land is a gift of nature.
2) Supply of land is fixed.
3)Land provides raw materials for production.
4) Productivity of land generally reduces with overuse.
labour
1) Labour refers to the human efforts in the production process.
2) Supply of labour is not fixed.
3) It provides services to facilitate production purpose.
4)Supply of labour increases with growth of population.
6)Land
1. Land is a natural resource
2.The supply of land is finite
3.Land is mostly indestructible or at least has a long life as an economic asset
Capital
1.Capital is the financial assets which is created.It may be in the form of cash, machinery,equipment etc.
2.The supply of capital is potentially infinite
3.The supply of capital is potentially infinite
7)Modern farming methods such as the use of HYV insecticides pesticides etc require a great deal of capital so the farmer needs more money than before.
(i) The medium and large farmers have their own savings from farming. They are thus able to arrange for the capital needed.
(ii) In contrast, the small farmers have to borrow money to arrange for the capital. They borrow from large farmers or the village moneylenders or the traders who supply various inputs for cultivation.
(iii) The rate of interest on such loans is very high. They are put in great distress to repay the loan, which is not so in .the case of medium and large farmers.
8)The different factor of production are :-
1. Land/Natural Resources
2. Labor
3. Capital
4. Entrepreneurship