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</p> Signup and view all the answers

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

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

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

    <p>Plastic</p> Signup and view all the answers

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

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

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

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

    Which of the following best describes actual resources?

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

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

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

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

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

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

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

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