In Economics, production means - (1) manufacturing (2) making (3) creating utility (4) farming

In Economics, production means - (1) manufacturing (2) making (3) creating utility (4) farming
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(3) creating utility Explanation: All factors of production like land, labour, capital and entrepreneur are required in combination at a time to produce a commodity. Production means creation or an addition of utility. Factors of production (or productive 'inputs' or 'resources') are any commodities or services used to produce goods and services.
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In Economics, production means (1) manufacturing (2) making (3) creating utility (4) farming

Description : In Economics, production means (1) manufacturing (2) making (3) creating utility (4) farming

Last Answer : creating utility

In Economics the 'Utility' and 'Usefulness' have - (1) same meaning (2) different meaning (3) opposite meaning (4) None of the above

Description : In Economics the 'Utility' and 'Usefulness' have - (1) same meaning (2) different meaning (3) opposite meaning (4) None of the above

Last Answer : (2) different meaning Explanation: In economics, utility is a representation of preferences over some set of goods and services. Preferences have a utility representation so long as they are ... . Usefulness means having practical utility of a piece which is beneficial, pertinent and functional.

In Economics the ‘Utility’ and ‘Usefulness’ have (1) same meaning (2) different meaning (3) opposite meaning (4) None of the above

Description : In Economics the ‘Utility’ and ‘Usefulness’ have (1) same meaning (2) different meaning (3) opposite meaning (4) None of the above

Last Answer : different meaning

Which of the following is a tertiary activity? (1) Farming (2) Manufacturing (3) Dairying (4) Trading

Description : Which of the following is a tertiary activity? (1) Farming (2) Manufacturing (3) Dairying (4) Trading

Last Answer : (4) Trading Explanation: The tertiary sector or service sector is the third of the three economic sectors of the three-sector theory. The others are the secondary sector (manufacturing), and the ... service based and give non-tangible value to customers such as provision of services, trading, etc.

Which of the following is a tertiary activity? (1) Farming (2) Manufacturing (3) Dairying (4) Trading

Description : Which of the following is a tertiary activity? (1) Farming (2) Manufacturing (3) Dairying (4) Trading

Last Answer : Trading

Which among the following deals with that branch of agricultural economics which is mainly about the business principles and interests of farming? a. Agriculture management b. Business management c. Economy management d. Farm management

Description : Which among the following deals with that branch of agricultural economics which is mainly about the business principles and interests of farming? a. Agriculture management b. Business management c. Economy management d. Farm management

Last Answer : d. Farm management

Which among the following deals with that branch of agricultural economics which is mainly about the business principles and interests of farming? a. Agriculture management b. Business management c. Economy management d. Farm management

Description : Which among the following deals with that branch of agricultural economics which is mainly about the business principles and interests of farming? a. Agriculture management b. Business management c. Economy management d. Farm management

Last Answer : d. Farm management

What can be done so that more non-farming production activities can be started in villages? -Economics 9th

Description : What can be done so that more non-farming production activities can be started in villages? -Economics 9th

Last Answer : 1. More industries should be set up in rural areas. 2. Vocational courses should be introduced. 3. Villages should be well connected to cities to make availability of market easier. 4. ... . 5. Transport facilities should be improved to make the availability of raw materials and market easier.

The term utility means - (1) usefulness of a commodity (2) the satisfaction which a commodity yields (3) the service which a commodity is capable of rendering (4) None of these

Description : The term utility means - (1) usefulness of a commodity (2) the satisfaction which a commodity yields (3) the service which a commodity is capable of rendering (4) None of these

Last Answer : (2) the satisfaction which a commodity yields Explanation: In economics, 'Utility,' refers to the total satisfaction received from consuming a good or service. It is usually applied by economists ... commodities that an individual or a society would accept to maintain a given level of satisfaction.

The term utility means (1) usefulness of a commodity (2) the satisfaction which a commodity yields (3) the service which a commodity is capable of rendering (4) None of these

Description : The term utility means (1) usefulness of a commodity (2) the satisfaction which a commodity yields (3) the service which a commodity is capable of rendering (4) None of these 

Last Answer :  the satisfaction which a commodity yields

Production refers to - (1) destruction of utility (2) creation of utilities (3) exchange value (4) use of a product

Description : Production refers to - (1) destruction of utility (2) creation of utilities (3) exchange value (4) use of a product

Last Answer : (2) creation of utilities Explanation: Production refers to "the creation of utility having value-in-exchange." The process of production may create six types of utilities: form utility, time utility, place utility, ownership utility, service utility and knowledge utility.

Engel’s curve illustrates the relationship between (a) Consumption and Utility (b) Production and Productivity (c) Income and Consumption (d) Income and Production

Description : Engel’s curve illustrates the relationship between (a) Consumption and Utility (b) Production and Productivity (c) Income and Consumption (d) Income and Production

Last Answer : (c) Income and Consumption

The law of diminishing marginal utility is most useful for explaining the (a) Law of supply (b) Law of demand © Shape of production possibility curve (d) curvature of total cost curve

Description : The law of diminishing marginal utility is most useful for explaining the (a) Law of supply (b) Law of demand © Shape of production possibility curve (d) curvature of total cost curve

Last Answer : (b) Law of demand

Production refers to (1) destruction of utility (2) creation of utilities (3) exchange value (4) use of a product

Description : Production refers to (1) destruction of utility (2) creation of utilities (3) exchange value (4) use of a product

Last Answer : creation of utilities

Operating Surplus arises in the - (1) Government Sector (2) Production for self consumption (3) Subsistence farming (4) Enterprise Sector

Description : Operating Surplus arises in the - (1) Government Sector (2) Production for self consumption (3) Subsistence farming (4) Enterprise Sector

Last Answer : (1) Government Sector

Operating Surplus arises in the (1) Government Sector (2) Production for self-consumption (3) Subsistence farming (4) Enterprise Sector

Description : Operating Surplus arises in the (1) Government Sector (2) Production for self-consumption (3) Subsistence farming (4) Enterprise Sector

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What is needed for creating demand? (1) Production (2) Price (3) Income (4) Import

Description : What is needed for creating demand? (1) Production (2) Price (3) Income (4) Import

Last Answer : (1) Production Explanation: Demand refers to how much (quantity) of a product or service is desired by buyers. The quantity demanded is the amount of a product people are willing to buy at a ... demanded is known as the demand relationship. So for demand to originate, a product is required first.

What is needed for creating demand ? (1) Production(2) Price (3) Income (4) Import

Description : What is needed for creating demand ? (1) Production(2) Price (3) Income (4) Import

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The term "market" in Economics means - (1) A central place (2) Presence of competition (3) Place where goods are stored (4) Shops and super bazars

Description : The term "market" in Economics means - (1) A central place (2) Presence of competition (3) Place where goods are stored (4) Shops and super bazars

Last Answer : (1) A central place Explanation: The most important defining characteristic of a market in economics is that it allows buyers and sellers to exchange any type of goods, services and ... place is so called because it is centrally located to maximize accessibility from the surrounding region.

Demand in Economics means : (1) Aggregate demand (2) Market demand (3) Individual demand (4) Demand backed by purchasing power

Description : Demand in Economics means : (1) Aggregate demand (2) Market demand (3) Individual demand (4) Demand backed by purchasing power

Last Answer : (4) Demand backed by purchasing power Explanation: Demand ' in Economics refers to the quantity of a good or service consumers ate able and willing to buy at a given price in a given market during a specified time period , other things beings equal.

Demand in Economics means : (1) Aggregate demand (2) Market demand (3) Individual demand (4) Demand backed by purchasing power

Description : Demand in Economics means : (1) Aggregate demand (2) Market demand (3) Individual demand (4) Demand backed by purchasing power

Last Answer : Demand backed by purchasing power

The term “market” in Economics means (1) A central place (2) Presence of competition (3) Place where goods are stored (4) Shops and super bazars

Description : The term “market” in Economics means (1) A central place (2) Presence of competition (3) Place where goods are stored (4) Shops and super bazars

Last Answer : A central place

Which two statements are true about the public cloud model? A. It meets security and auditing requirements for highly regulated industries. B. Resources and infrastructure are managed and maintained by the enterprise IT operations staff. C. It shifts the bulk of the costs from capital expenditures and IT infrastructure investment to an utility operating expense model. D. It shifts the bulk of the costs from capital expenditures to creating a virtualized and elastic infrastructure within the enterprise data center.

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Economics classifies the manmade instrument of production as: (1) Organization (2) Capital (3) equipment (4) labour

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The basic problem studied in Macro - Economics is (1) production of income (2) usage of income (3) flow of income (4) distribution of income

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Last Answer :  production of income

Economics classifies the manmade instrument of production as : (1) organization (2) capital (3) equipment (4) labour

Description : Economics classifies the manmade instrument of production as : (1) organization (2) capital (3) equipment (4) labour

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Interms of economics, if it is possible to make someone better off without making someone worse off, then the situation is - (1) Inefficient (2) Efficient (3) Optimal (4) Paretosuperior

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Last Answer : (1) Inefficient Explanation: Pareto efficiency is said to occur when it is impossible to make one party better off without making some-one worse off. An inefficient situation is one where it possible to make some people better off without making anyone else worse off.

Which is the basically a decision making science ? a. Farm management b. Macro economics c. Micro economics d. None of these

Description : Which is the basically a decision making science ? a. Farm management b. Macro economics c. Micro economics d. None of these

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In terms of economics, if it is possible to make someone betteroff without making someone worseoff, then the situation is (1) Inefficient (2) Efficient (3) Optimal (4) Paretosuperior

Description : In terms of economics, if it is possible to make someone betteroff without making someone worseoff, then the situation is (1) Inefficient (2) Efficient (3) Optimal (4) Paretosuperior

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Which of the following following is most likely to affect the location ocation strategy strategy of a manufacturing anufacturing firm? a. appearance/image appearance/image of the area b. utility costs c. purchasing purchasing power of drawing drawing area d. competition competition in the area

Description : Which of the following following is most likely to affect the location ocation strategy strategy of a manufacturing anufacturing firm? a. appearance/image appearance/image of the area b. utility costs c. purchasing purchasing power of drawing drawing area d. competition competition in the area

Last Answer : b. utility costs

Which of th rather than a manufacturing firm? of the following is most likely to kely to affect the location deci on decision of a service firm a. energy and utility utility costs b. attitude attitude toward unions c. parking and access d. cost of shipping shipping finished finished goods e. labor costs

Description : Which of th rather than a manufacturing firm? of the following is most likely to kely to affect the location deci on decision of a service firm a. energy and utility utility costs b. attitude ... unions c. parking and access d. cost of shipping shipping finished finished goods e. labor costs

Last Answer : c. parking and acces

Better classroom management means (a) per group work and better interaction among pupils (b) prior preparation of teacher in the making of suitable aids (c) Punctuality of the teachers in coming in the class and finishing the course in time (d) Getting the attention and cooperation of all the students before starting the class/ task (e) Moving around the room to identify pupils having or creating problems (f) Avoid teaching when pupils are not in proper mood (g) All of these

Description : Better classroom management means (a) per group work and better interaction among pupils (b) prior preparation of teacher in the making of suitable aids (c) Punctuality of the teachers in coming in the ... creating problems (f) Avoid teaching when pupils are not in proper mood (g) All of these

Last Answer : (g) All of these

Which of the following is not a type of elasticity in economics………………… (a) Income elasticity ; (b) Price elasticity ; (c) Utility elasticity ; (d) Cross elasticity

Description : Which of the following is not a type of elasticity in economics………………… (a) Income elasticity ; (b) Price elasticity ; (c) Utility elasticity ; (d) Cross elasticity

Last Answer :  (c) Utility elasticity ;

Capital in economics means (a) Factor of production ; (b) Fund brought in by the entrepreneur; (c) Investment in shares, bank deposits ; (d) All the above

Description : Capital in economics means (a) Factor of production ; (b) Fund brought in by the entrepreneur; (c) Investment in shares, bank deposits ; (d) All the above

Last Answer : (a) Factor of production ;

Cheap solar energy and genetic engineering will provide the basis for primaryindustries in the countryside, a. Modernized farming. b. Mining. c. Manufacturing. d. All of the above.

Description : Cheap solar energy and genetic engineering will provide the basis for primaryindustries in the countryside, a. Modernized farming. b. Mining. c. Manufacturing. d. All of the above.

Last Answer : d. All of the above.

Cheap solar energy and genetic engineering will provide the basis for primaryindustries in the countryside, a. Modernized farming. b. Mining. c. Manufacturing. d. All of the above.

Description : Cheap solar energy and genetic engineering will provide the basis for primaryindustries in the countryside, a. Modernized farming. b. Mining. c. Manufacturing. d. All of the above.

Last Answer : d. All of the above.

Define Green Revolution . How is the Green Revolution different from traditional farming? -Economics 9th

Description : Define Green Revolution . How is the Green Revolution different from traditional farming? -Economics 9th

Last Answer : Green revolution means increase in agricultural production due to the introduction of modern technique. Green revolution is different from traditional farming because green revolution mean the ... But in traditional farming farmers depends on monsoons like rain fall for agricultural production.

Why is my electric utility company offering a renewable energy option?

Description : Why is my electric utility company offering a renewable energy option?

Last Answer : You’re not supposed to ask questions about renewable energy, just say yes. If it causes harm, that’s a price we’re willing to pay. Apparently. Any other industry would be fined out of existence.

The total utility from 9 units of commodity x is 20 and from 10 units is 15. Calculate the marginal utility from 10th unit. (1) 0.5 (3) 5 (2) -0.5 (4) -5

Description : The total utility from 9 units of commodity x is 20 and from 10 units is 15. Calculate the marginal utility from 10th unit. (1) 0.5 (3) 5 (2) -0.5 (4) -5

Last Answer : (4) -5 Explanation: Marginal Utility = Change in Total Utility / Change in number of Units consumed. The first component of the formula is to calculate the change in total utility. The second component of the marginal utility formula is the change in the number of units that have been consumed.

Which of the following concepts are most closely associated with J.M. Keynes? (1) Control of money supply (2) Marginal utility theory (3) Indifference curve analysis (4) Marginal efficiency of captial

Description : Which of the following concepts are most closely associated with J.M. Keynes? (1) Control of money supply (2) Marginal utility theory (3) Indifference curve analysis (4) Marginal efficiency of captial

Last Answer : (4) Marginal efficiency of captial Explanation: The marginal efficiency of capital (MEC) is that rate of discount which would equate the price of a fixed capital asset with its present discounted ... given by the returns expected from the capital asset during its life Just equal its supply price

The value of a commodity expressed in terms of money is known as - (1) Price (2) Utility (3) Value (4) Wealth

Description : The value of a commodity expressed in terms of money is known as - (1) Price (2) Utility (3) Value (4) Wealth

Last Answer : (1) Price Explanation: The exchange value of every commodity can be expressed in terms of money. This possibility has enabled money to become a medium for expressing values when the growing elaboration of ... . Thus, price can be defined as exchange value of a commodity expressed in terms of money.

A want becomes a demand only when it is backed by the - (1) Ability to purchase (2) Necessity to buy (3) Desire to buy (4) Utility of the product

Description : A want becomes a demand only when it is backed by the - (1) Ability to purchase (2) Necessity to buy (3) Desire to buy (4) Utility of the product

Last Answer : (1) Ability to purchase Explanation: Need," "Want," and "Demand" are the three key concepts of marketing. Needs are the basic human requirements. These needs become wants when they are directed to specific ... a weekend break in the Caribbean, but only a few people are willing and able to buy one.

When marginal utility is zero, the total utility is - (1) Minimum (2) Increasing (3) Maximum (4) Decreasing

Description : When marginal utility is zero, the total utility is - (1) Minimum (2) Increasing (3) Maximum (4) Decreasing

Last Answer : (3) Maximum Explanation: Marginal utility measures the extra utility (or satisfaction) from consuming an additional unit of a product. Total utility is the total satisfaction from the consumption of the ... in total satisfaction from the consumption of that unit. So the total unit is at maximum.

Diamonds are priced higher than water because : (1) they are sold by selected firms with monopolistic powers. (2) their marginal utility to buyers is higher than that of water. (3) their total utility to buyers is higher than that of water. (4) consumers do not buy them at lower prices.

Description : Diamonds are priced higher than water because : (1) they are sold by selected firms with monopolistic powers. (2) their marginal utility to buyers is higher than that of water. (3) their total utility to buyers is higher than that of water. (4) consumers do not buy them at lower prices.

Last Answer : (2) their marginal utility to buyers is higher than that of water. Explanation: The water diamond paradox or puzzle was a mystery of Adam Smith who observed that the price of diamonds was much higher ... is very high and so consumers are willing to pay higher prices for diamond, than for water.

The Marginal Utility Curve slopes downward from left to right indicating - (1) A direct relationship between marginal utility and the stock of commodity (2) A constant relationship between marginal utility and the stock of commodity (3) A proportionate relation-ship between marginal utility and the stock of commodity (4) An inverse relationship between marginal utility and the stock of commodity

Description : The Marginal Utility Curve slopes downward from left to right indicating - (1) A direct relationship between marginal utility and the stock of commodity (2) A constant relationship between marginal ... stock of commodity (4) An inverse relationship between marginal utility and the stock of commodity

Last Answer : (4) An inverse relationship between marginal utility and the stock of commodity Explanation: The Marginal Utility Curve is a curve illustrating the relation between the marginal utility obtained from ... marginal (additional) benefit to the consumer falls; hence consumers are prepared to pay less.

If total utility is maximum at a point, then marginal utility is - (1) positive (2) zero (3) negative (4) positive but decreasing

Description : If total utility is maximum at a point, then marginal utility is - (1) positive (2) zero (3) negative (4) positive but decreasing

Last Answer : (2) zero Explanation: Marginal utility of a good or service is the gain (or loss) from an increase (or decrease) in the consumption of that good or service. As the rate ... increase in consumption of units of commodities causes marginal utility to become negative; this signifies dissatisfaction.

Consumer gets maximum satisfaction at the point where - (1) Marginal Utility = Price (2) Marginal Utility > Price (3) Marginal Utility < Price (4) Marginal Cost = Price

Description : Consumer gets maximum satisfaction at the point where - (1) Marginal Utility = Price (2) Marginal Utility > Price (3) Marginal Utility < Price (4) Marginal Cost = Price

Last Answer : (1) Marginal Utility = Price Explanation: As per the law of diminishing marginal utility, the utility of each successive unit goes on diminishing as more and more units of a commodity are consumed. A ... for it. In this way, the consumer will get the maximum satisfaction and will be in equilibrium.

Law of diminishing marginal utility is based on the assumption that a. Tastes change over time b. Consumption is continuous c. Different units of goods consumed are homogeneous Of these statements: A.Only a is true B.a and c are true C.b and c are true D.All are true

Description : Law of diminishing marginal utility is based on the assumption that a. Tastes change over time b. Consumption is continuous c. Different units of goods consumed are homogeneous Of these statements: A.Only a is true B.a and c are true C.b and c are true D.All are true

Last Answer : D.All are true