Production Book Back Questions 7th Social Science Lesson 10

7th Social Science Lesson 10

10] Production

Book Back Questions with Answer and Do You Know Box Content

Do You Know?

Types of Utility: Form utility – If the physical form of a commodity is changed, its utility may increase. Eg. Cotton increases, if it is converted into clothes; Place utility – If a commodity is transported from one place to another, its utility may increase. Eg. If rice transported to Tamil Nadu to Kerala, its utility will be more; Time utility – If the commodity is stored for future usage, its utility may increase. Eg. Agricultural commodities like Paddy, Wheat, etc. are stored for the regular uses of consumers throughout the year.

Indian Economy is a Mixed Economy. Private and Public Sector are existing together.

The most to the Gross Domestic Product of our country is contributed by the tertiary sector.

Example: Primary sector and secondary sector production: Cotton (Primary sector) – Cotton Industry (Secondary Sector) = Cloth Production. Iron Ore (Primary Sector) – Iron Industry (Secondary Sector) = Material Production. Wheat flour (Primary sector) – Bread Factory (Secondary Factory) = Food Production.

Land: Land can take on various forms, from agricultural land to commercial real estate to the resources available from a particular piece of Land.

Adam Smith is known as Father of Economics and his Economics is wealth Economics. He wrote two classic works, “The Theory of Moral sentiments (1759) ”, and “An inquiry into the nature and causes of the wealth of Nations (1776) ”.

Choose the best answers:

1. Production refers to

(a) Destruction of utility

(b) Creation of utilities

(c) Exchange value

(d) None of these

2. Utilities are in the nature of

(a) Form utility

(b) Time utility

(c) Place utility

(d) All of these

3. ____________ is carried out by extractive industries.

(a) Secondary production

(b) Primary production

(c) Tertiary production

(d) Service Production

4. Primary factors are

(a) Land, Capital

(b) Capital, Labour

(c) Land, Labour

(d) None of these

5. The entrepreneur is also called

(a) Exchanger

(b) Agent

(c) Organizer

(d) Communicator

Fill in the blanks:

1. ______________ means want satisfying power of a product.

2. Derived factors are ______________ and ___________.

3. ___________ is a fixed in supply.

4. ____________ is the human input into the production process.

5. ___________ is the man made physical goods used to produce other goods and services.

Match the following:

1. Primary production – Adam Smith

2. Time utility – Fishing, mining

3. Wealth of nation – Entrepreneur

4. Human capital – Stored for future

5. Innovator – Education, Health

Answers:

Choose the best answers:

1. Creation of utilities 2. All of these 3. Primary production 4. Land, labour 5. Organizer

Fill in the blanks:

1. Utility 2. Investment, Party 3. Land 4. Efficiency 5. Investment

Match the following:

1. Fishing, mining 2. Stored for future 3. Adam Smith 4. Education, Health 5. Entrepreneur