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Class: Economics, lesson: the story of village Palampur
Read the lesson and answer the following questions:
1. Define the term production.
2. What are the main factors of production. Explain briefly.
3. Differentiate between the physical capital and fixed capital.
4. What is known as multiple cropping?
5. How did the spread of electricity help the farmers in Palampur?
6. What is the difference between multiple cropping and modern farming method?
7. Define the term Green Revolution. What are the limitations of Green Revolution?
8. Is it important to increase the area under irrigation?
9. What do you mean by HYVs?
Answers
Ist --->the making or growing of something, especially in large quantities
2nd-->Factors of production are :-
Land :- The land is an important factor for cultivation. As vast as tge land will be , the production will be more because large land provide multiple cropping etc,.
Labour :- Unskilled, Semi - Skilled and Skilled labours are main factors. There is aboundance of labour in nature.
Capital :- Fir starting up any business you need money to invest. This is what we mean by capital.
Human Capital :- Last but not the least, most important capital amongst all is Human Capital because to arrange all these things we need a human to arrange in a specific way.
3rd. In economics, physical capital refers to a factor of production (or input into the process of production), such as machinery, buildings, or computers. In economic theory, physical capital is one of the three primary factors of production, also known as inputs production function.
Working Capital refers to the capital, which is used to perform day to day business operations. Fixed capital investments include durable goods, which will remain in the business for more than one accounting period. On the other hand, Working capital comprises of short-term assets and liabilities of the business.
hope it helps you
1.Production is a process of combining various material inputs and immaterial inputs (plans, know-how) in order to make something for consumption (output). It is the act of creating an output, a good or service which has value and contributes to the utility of individuals.
2.Factors of production is an economic term that describes the inputs used in the production of goods or services in order to make an economic profit. ... The factors of production typically include land, labor, capital, entrepreneurship, and the state of technological progress.
3.physical capital refers to a factor of production (or input into the process of production), such as machinery, buildings, or computers. ... Fixed capital investments include durable goods, which will remain in the business for more than one accounting period.
4.multiple cropping or multicropping is the practice of sequentially growing two or more crops in the same piece of land during one growing season instead of just one crop. It is a form of polyculture. ... Mixed cropping is found in many agricultural traditions.
5.The spread of electricity has helped farmers in Palampur in following ways: (i)Electric-run tubewells can Irrigate much larger areas of land. (ii)Electricity has transformed the system of Irrigation. (iii)Electricity has reduce the pollution because it is a cheap and pollution free source of Irrigation.
6.Multiple cropping corresponds to produce more than 1 crop on a piece of land during 1 year. ... But in the modern farming method, HYV ( high yielding variety) seeds are used for farming with lot of irrigation and chemical fertilizers and pesticides which inturn resulted into high yielding of crops.
7.there were certain limitation of the Green Revolution: 1. Green revolutions resulted in loss of soil fertility due to increased use of chemical fertilisers and pesticides. 2. Continuous use of groundwater for tube well irrigation reduced the water-table below the ground.
8.it is important to increase the area under irrigation because water is very essential for agriculture. In India, the rainfall is unevenly distributed in the country and if rainfall is less, then production will be low, and they will be only able to grow one crop in a season.
9.High Yielding Variety Seeds (HYV seeds) are seeds are of better quality than normal quality seeds. The produce from these seeds is a bit more compared to the normal ones. These seeds are a better option of seeds in order to obtain a healthy and surplus crop.