Economics Chapter 5: Basic Problems of an Economy Std. 9 2023-2024 Quiz
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Questions and Answers

Which type of resource refers to materials developed by humans?

  • Abiotic resources
  • Biotic resources
  • Natural resources
  • Man-made resources (correct)

Which of the following is an example of a biotic resource?

  • Rocks
  • Air
  • Vegetation (correct)
  • Water

Which type of resource involves substances obtained from non-living things?

  • Abiotic resources (correct)
  • Man-made resources
  • Biotic resources
  • Renewable resources

Doctors and nurses are examples of which type of resource?

<p>Human resources (D)</p> Signup and view all the answers

Which type of resource gets renewed by natural processes and is continuous?

<p>Renewable resources (A)</p> Signup and view all the answers

Which of the following is considered a man-made resource?

<p>Plastic (A)</p> Signup and view all the answers

Which type of resource is characterized by substances that decrease and disappear with use?

<p>Exhaustible resources (A)</p> Signup and view all the answers

Which concept is reflected in the statement 'There is enough for everyone’s need but not for everyone’s greed'?

<p>Conservation of resources (B)</p> Signup and view all the answers

What kind of resources are Ocean water and sunlight considered to be?

<p>Potential resources (B)</p> Signup and view all the answers

What is meant by the idea that resources have alternative uses?

<p>Resources can be utilized for multiple purposes (A)</p> Signup and view all the answers

Which of the following best describes actual resources?

<p>Resources already being utilized by the present generation (C)</p> Signup and view all the answers

Why do some wants always remain unsatisfied according to the text?

<p>Limited supply of resources (A)</p> Signup and view all the answers

What is the economic problem primarily concerned with?

<p>Allocation of limited resources for production of goods and services (C)</p> Signup and view all the answers

Which resource category includes factors like land, labor, capital, and enterprise?

<p>Human resources (B)</p> Signup and view all the answers

Which concept refers to a situation where only a limited amount of resources is available leading to a constrained production capacity?

<p>Scarcity (B)</p> Signup and view all the answers

What type of resources are land, water, and mineral deposits classified as?

<p>Abiotic resources (D)</p> Signup and view all the answers

In the context of economic problems, what factor contributes significantly to the problem of choice?

<p>Unlimited human wants (B)</p> Signup and view all the answers

In what way do wants differ from each other according to the text?

<p>Wants are gradable and competitive based on priority (A)</p> Signup and view all the answers

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