Question

Q:1) What are the main factors of production? (1)mark
Q:2) What is the aim of production? (1)mark
Q:3) How can you say that the use of modern farming methods is beneficial for Indian farmers? (2)marks
Q:4) What do you mean by working capital? (3)marks
Q:5) Is it important to increase the area under irrigation? Why? (5)marks​

Answer 1

1. Capital
2. Combain of row material to make product
3 at the time agriculture is most of profitable work from COVID
4. Capital like investment, a creat by man and profit will earn future long time interest
5 allever business like top location and goodwill

Answer 2

Answer:

Q1.

• 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.

Q2.

• Aim of production is to produce goods and render services to the economy.

Q3.

• By using modern farming methods, Indian farmers are able to produce much greater amount of grains on a single plant. There is a large increase in the production of wheat. Using these methods, the farmers have greater amounts of surplus wheat to sell in the markets.

Q4.

• Working capital is the amount of cash a business can safely spend. It’s commonly defined as current assets minus current liabilities. Usually working capital is calculated based on cash, assets that can quickly be converted to cash (such as invoices from debtors), and expenses that will be due within a year.

Q5.

• Yes, 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 farmers will be only able to grow one crop in a season. With good irrigation facilities, it will be possible to do multiple cropping, helping to increase the yield per hectare.

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