Economies Uncovered

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Questions and Answers

Which of the following is the best definition of an economy?

  • A social domain that emphasizes the production and management of resources. (correct)
  • A system of trade and consumption of goods and services.
  • A social domain of interrelated human practices and transactions.
  • A set of processes that involve culture, education, and technological evolution.

What are the main factors that give context and set the conditions for an economy to function?

  • Culture, education, and technological evolution.
  • History, social organization, and political structure.
  • Legal systems and natural resources.
  • All of the above. (correct)

Who can be economic agents in an economy?

  • Only individuals.
  • Only businesses and organizations.
  • Only governments.
  • Individuals, businesses, organizations, and governments. (correct)

When do economic transactions occur?

<p>When two groups or parties agree to the value or price of a transacted good or service. (B)</p> Signup and view all the answers

What is the relationship between the economic domain and other social domains?

<p>The economic domain is a social domain of interrelated human practices and transactions. (A)</p> Signup and view all the answers

According to the NCERT Syllabus for Class 10 Economics, how many chapters is the syllabus divided into?

<p>5 (A)</p> Signup and view all the answers

Who designs the syllabus for Class 10 Economics based on the guidelines of the National Curriculum Framework?

<p>NCERT (C)</p> Signup and view all the answers

Why is it important for students to know the Class 10 Economics Syllabus?

<p>All of the above (D)</p> Signup and view all the answers

What is the purpose of mapping out a study plan after examining the syllabus?

<p>To allocate time for each chapter (D)</p> Signup and view all the answers

Where can students download the NCERT Class 10 Economics Syllabus in PDF format?

<p>Byju's website (C)</p> Signup and view all the answers

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