question from story of village palampur
Answers
Answer:
Question 1.
What are the factors of production?
Answer:
The essential inputs which are required for the production of goods and services are known as factors of production. For example, for the production of cloth, cotton-machine, labour and technology is required.
Question 2.
Name the main production activity of Palampur.
Answer:
Farming.
Question 3.
What capital is needed as first priority to set up a jaggery manufacturing unit?
Answer:
Fixed capital.
Question 4.
Give a few examples of fixed capital.
Answer:
Tools, machines and building.
Question 5.
Name any one item of working capital.
Answer:
Money.
Question 6.
Give an example of an entity which is not a part of fixed capital.
Answer:
Cash amount.
Question 7.
Give two examples of the working capital.
Answer:
Raw materials,
Money in hand.
Question 8.
What do raw materials and money in hand call?
Answer:
The working capital.
Question 9.
The clay used by a potter is an example of which type of capital?
Answer:
Working capital.
Question 10.
Why is it important to use land very carefully?
Answer:
Land is a natural resource, once destroyed it is very difficult to restore it.
Question 11.
What are rabi crops?
Answer:
The crops which are grown in the winter season i.e., November or December and harvested in summer i.e., April or May. For example, wheat.
Question 12.
What are kharif crops?
Answer:
The crops which are grown in the rainy season i.e., June or July and harvested in October or November. For example, rice.
Question 13.
Farmer’s plough is an example of which factors of production?
Answer:
Capital.
Question 14.
Which is the most abundant factor of production?
Answer:
Labour.
Question 15.
What is physical capital?
Answer:
Physical capital includes variety of inputs required at every stage during production like machines, raw material etc.
Question 16.
What are different categories of physical capital?
Answer:
Fixed capital,
Working capital.
Question 17.
Categorise the following as fixed capital or working capital:
(i) Cotton,
(ii) Machine.
Answer:
(i) Cotton — Working capital,
(ii) Machine — Fixed capital.
Question 18.
Which term is used for production for self-consumption?
Answer:
Subsistence farming.
Question 19.
Enumerate a few effects of modem farming method.
Answer:
Soil degradation, reduced water table below the ground and water pollution.
Question 20.
Mention any two natural factors of production.
Answer:
Land, forests, water, minerals etc.
Question 21.
What is a market?
Answer:
It is a place where goods and services can be sold.
Question 22.
Define yield.
Answer:
Crop produced on a given piece of land during a single season.
Question 23.
Who provides capital to the small farmers at high rate of interest?
Answer:
Large farmers, village moneylender or the traders.
Question 24.
What does HYV stand for?
Answer:
High Yielding Varieties (HYV).