Class 9 Economics Chapter 1 Question Answers - Economics

Q1: Which is the most important economic activity of the people of rural India?
Ans: Farming or agriculture is the most important economic activity of the people of rural India.

Q2: Name two economic activities other than farming.
Ans: Manufacturing and Dairy.

Q3: What are different types of production activities carried out in villages in India?
Ans: In villages across India, farming is the main production activity. The other production activities, referred to as non-farm activities include small manufacturing, transport, shop-keeping, etc.

Q4: What is the aim of production?
Ans: The aim of production is to produce the goods and services that we want.

Q5: There are four requirements for production of goods and services. Name them.
Ans: Land, Labour, Physical capital, Human capital.

Q6: What is meant by physical capital?
Ans: A variety of inputs are required at every stage during production. This is called physical capital.

Q7: What do you mean by fixed capital?
Ans: Capital goods, such as machinery and tools that are relatively durable and can be used repeatedly in the production of goods, are called fixed capital.

Q8: What do you mean by working capital?
Ans: Raw materials and money in hand are called working capital. Unlike machinery and tools, these are used up in production.

Q9: What are factors of production?
Ans: Every production is organized by combining land, labour, physical capital, and human capital, which are called factors of production.

Q10: What is the standard unit for measuring the area of land?
Ans: The standard unit for measuring the area of land is hectare.

Q11: What is called human capital?
Ans: The skills, knowledge, and experience possessed by an individual or population are called human capital. These are viewed in terms of their value or cost to an organization or country.

Q12: What is the main production activity in Palampur?
Ans: Farming is the main production activity in Palampur.

Q13: What is the most important factor of production? Why?
Ans: The most important factor of production is human capital which puts together land, labour, and physical capital and produces an output for various purposes.

Q14: What is meant by yield?
Ans: Crop produced on a given piece of land during a single season is called yield.

Q15: Give one difference between traditional seeds and HYV seeds.
Ans: Traditional seeds need less irrigation while HYV seeds need plenty of water.

Q16: When did the Green Revolution take place in India?
Ans: The Green Revolution took place in India in the late 1960s.

Q17: What does HYV stand for?
Ans: HYV stands for High Yielding Variety.

Q18: Farmers of which states were the first to try out the modern farming method in India?
Ans: Farmers of Punjab, Haryana, and Western Uttar Pradesh were the first to try out the modern farming method in India.

Q19: How are farmers different from farm labourers?
Ans: Unlike farmers, farm labourers do not have a right over the crops grown on the land. They are paid wages by the farmers.

Q20: Which is the most abundant factor of production?
Ans: Labour is the most abundant factor of production.

Q21: Both land and capital are scarce. But there is a basic difference between the two factors of production. What is it?
Ans: Land is a natural resource whereas capital is man-made. It is possible to increase capital, whereas land is fixed.

Q22: It is important that we take good care of land. Why?
Ans: Land is a fixed natural resource. So, it is important that we take good care of it.

Q23: What is the minimum wage set up by the government for agricultural labourers?
Ans: It is ₹ 115 (April 2011).

Q24: Which factors have enabled the farmers in Palampur to grow three different crops in a year?
Ans: The spread of electricity has enabled the farmers in Palampur to grow three different crops in a year.

Q25: What is the working capital required by the farmer using modern farming methods?
Ans: HYV seeds, chemical fertilisers, pesticides, electricity, irrigation, etc.