Question

Q.1. Mention any two factors of production.
Q. 2. What is the main economic activity in the village Palampur
Q. 3. What do you understand by HYV?
Q. 4. What is Green Revolution?
Q. 5. What is Fixed Capital?​

Answer 1

Answer:

Goods and services are the two factor of production.

Answer 2

Answer:

1.Factors of production are the resources people use to produce goods and services; they are the building blocks of the economy. Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship.

2.Farming

* Farming is the main activity in Palampur, whereas several other activities such as small scale manufacturing, dairy, transport, etc.

3.High Yield Variety (HYV) seeds were developed by scientists to improve food supplies and reduce famine in developing countries

4.a large increase in crop production in developing countries achieved by the use of artificial fertilizers, pesticides, and high-yield crop varieties.

5.capital invested in fixed assets.

Explanation:

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