Very short answers type questions:
1. What is the main production activity in Palampur villege?
2. What connects Palampur with neighbouring villages and towns?
3. What is the aim of production?
4. Name the four requirements for production of goods and services?
5. What do you mean by physical capital?
6. What do you mean by fixed capital?
7. Define "Green Revolution".
8. What are known as factors of production?
9. How is yield measured?
10. What is the full form of HYV?
Answers
Answer:
1. Farming is the main production activity in Palampur village.
2. An all weather road connects Palampur to neighbouring villages and towns such as Raiganj (village) and Shahpur (town).
3. The aim of production is to produce the goods and services that we want. There are four factors of production: (i) Land. The first requirement of production is land, and other natural resources such as water, forests, minerals.
4. The main requirements for the production of goods and services are land, labor, physical capital, and human capital.
5. Physical capital consists of man-made goods (or input into the process of production) that assist in the production process. Cash, real estate, equipment, and inventory are examples of physical capital.
6. Fixed capital consists of assets that are not consumed or destroyed in the production of a good or service and can be used multiple times. Property, plant, and equipment are standard fixed capital items. Fixed capital assets are usually illiquid items and are depreciated over time.
7. A large increase in crop production in developing countries achieved by the use of artificial fertilizers, pesticides, and high-yield crop varieties.
8. 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.
9. Generally, yield is calculated by dividing the dividends or interest received on a set period of time by either the amount originally invested or by its current price: For a bond investor, the calculation is similar.
10. HYV may refer to: High-yielding variety in agroindustry. Hindu Yuva Vahini, a Hindu youth group.
Answer:
agriculture
roads
development
capital, rawmaterial, transport , .......
money or labour
.........
use of hyv seeds and fertilizer
.......
.......
high yielding variety...
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