Tamilnadu State Board New Syllabus Samacheer Kalvi 7th Social Science Guide Pdf Economics Term 1 Chapter 1 Production Text Book Back Questions and Answers, Notes.
Tamilnadu Samacheer Kalvi 7th Social Science Solutions Economics Term 1 Chapter 1 Production
7th Social Science Guide Production Text Book Back Questions and Answers
I. Choose the correct answer:
Question 1.
Production refers to ………….
a) destruction of utility
b) creation of utilities
c) exchange value
d) none of these
Answer:
b) creation of utilities
Question 2.
Utilities are in the nature of ……………
a) form utility
b) time utility
c) place utility
d) all of these
Answer:
d) all of these
Question 3.
Primary factors are ……………..
a) land, capital
b) capital, labour
c) land, labour
d) none of these
Answer:
c) land, labour
Question 4.
The entrepreneur is also called …………….
a) exchanger
b) Agent
c) organizer
d) communicator
Answer:
c) organizer
II. Fill in the blanks:
1. ……………….. means want satisfying power of a product.
Answer:
Utility
2. Derived factors are ………….. and ……………..
Answer:
Capital,Organisation
3. …………. is a fixed in supply.
Answer:
Land
4. …………….. is the human input into the production process.
Answer:
Labour
5. ………………… is the man made physical goods used to produce other goods and services.
Answer:
Capital
III. Match the following:
Question
| 1. Primary production | a) Adam Smith |
| 2. Time utility | b) fishing, mining |
| 3. Wealth of nation | c) entrepreneur |
| 4. Human capital | d) stored for future |
| 5. Innovator | e) education, health |
Answer:
| 1. Primary production | b) fishing, mining |
| 2. Time utility | d) stored for future |
| 3. Wealth of nation | a) Adam Smith |
| 4. Human capital | e) education, health |
| 5. Innovator | c) entrepreneur |
IV. Give a short answer:
Question 1.
What is production?
Answer:
Production is a process of combining various material inputs and immaterial inputs in order to make something for consumption.
Question 2.
What is utility?
Answer:
Utility means want satisfying power of a product.
Question 3.
Name the types of utility.
Answer:
Utilities are in the nature of form utility, time utility, and place utility.
Question 4.
What are the factors of production?
Answer:
The factors of production
- Land
- Labour
- Capital
- Organization
Question 5.
Define Labour.
Answer:
Alfred Marshall defines labour as, ‘the use of body or mind, partly or wholly, with a view to secure an income apart from the pleasure derived from the work’.
Question 6.
Define Division of labour.
Answer:
Division of labour means dividing the process of production into distinct and several component processes and assigning each component in the hands of labour or a set of labourers, who are specialists in that particular process.
Question 7.
Write the forms of capital.
Answer:
- Physical Capital or Material Resources, Ex. Machinery, tools, buildings, etc.
- Money capital or Monetary resources, Ex. Bank deposits, shares and securities, etc.
- Human capital or Human Resources Ex. Investments in education, training, and health
Question 8.
Write the three characteristics of an entrepreneur?
Answer:
- Identifying profitable investible opportunities.
- Deciding the location of the production unit.
- Making Innovations
- Deciding the reward payment.
- Taking risks and facing uncertainties.
V.Give brief answer:
Question 1.
Explain the types of production?
Answer:
There are three types of production
- Primary production
- Secondary production
- Tertiary or service production
1. Primary Production:
- Primary production is industries that are extracting the gifts of nature from the earth’s surface and oceans.
- Ex: fishing, mining, agriculture.
2. Secondary Production:
- It is the manufacturing industry, conversion of raw material into finished good.
- Ex: Manufacture of clothes, cars and chemicals.
3. Tertiary production:
- In the tertiary sector, all those services enable the finished goods to be put in the hands of consumers.
- Ex: Banking, transport, and communications.
Question 2.
What is the land? What are the characteristics of land?
Answer:
Land is a factor of production and natural resource.
Characteristics of Land:
Land is a Free Gift of Nature:
- Land is not the outcome of human labour.
- It existed even long before the evolution of man.
Land is fixed in supply:
- The land quantity does not undergo any change and no alteration can be made.
- It is limited, increased or decreased by human efforts.
Land is imperishable
The land is not destructible and imperishable.
Land is a primary factor of production
In any kind of production process, start with land. Land provides raw materials and crops for industry.
Land is immovable:
Land cannot be transported from one place to another place.
Land has some original Indestructible powers
The indestructible powers of land cannot be destroyed by man.
Land Differs in Fertility:
- Fertility of land differs on different places of land.
- One piece of land may produce more and the other less.
Question 3.
Explain the merits and demerits of division of labour.
Answer:
Merits of the division of labour
- Division of Labour improves the efficiency of Labour.
- Time and Materials are put to the best and most efficient use.
- Use of Machinery in production, resulting in inventions.
Demerits:
- Repetition of the same work makes labour to feel monotonous and stale.
- Narrow Specialization reduces to find alternative avenues of employment. This results in increased unemployment.
- Reduce the growth of handicrafts and the worker losed satisfaction.
Question 4.
Describe the characteristics of capital.
Answer:
- Capital is a passive factor of production
- Capital is manmade
- Capital is not an indispensable factor of production
- Capital has the highest mobility
- Capital is productivity
- Capital lasts over time.
- Capital involves a present sacrifice to get future benefits.
7th Social Science Guide Production Additional Important Questions and Answers
I. Choose the Correct answer:
Question 1.
Banking conies under which production?
a) Primary
b) Secondary
c) tertiary
d) mixed
Answer:
Tertiary
Question 2.
The father of Economics is
a) Adam smith
b) John Marshall
c) Malthus
c) John Renier
Answer:
a) Adam Smith
Question 3.
A wealth of Nations book written in the year
a) 1770
b) 1774
c) 1776.
d) 1789
Answer:
c) 1776
Question 4.
The concept Division of Labour was introduced by
a) Adam smith
b) John Marshall
c) M.N Roy
d) Dadabhai Nauroji
Answer:
a) Adam Smith
Question 5.
Most of the Gross Domestic Product of our country is contributed by the
a) Primary sector
b) Secondary sector
c) Tertiary sector
d) mixed sector
Answer:
c) tertiary sector
II.Fill in the blanks:
1. There are two kinds of people ……………….. and ……………….
Answer:
producers, consumers
2. Indian Economy is a ………………. economy.
Answer:
mixed
3. …………….. of Land differs in different places of the land.
Answer:
Fertility
4. Capital means ………………
Answer:
money
5. The entrepreneur is also called ………………..
Answer:
organizer
6. ………….are called factors of production.
Answer:
Inputs
7. The concept ‘Division of labour’ was introduced by ……………………..
Answer:
Adam Smith
8. The factors for production are …………….., ………….., ………………..
Answer:
land, labour, capital
9. ………….means want satisfying power of a product.
Answer:
utility.
10. In the Secondary production …………………. getting more importance.
Answer:
Manufacturing
11. Secondary production is also known as ……………………..
Answer:
Construction
12. Tertiary production is also known as ………………………
Answer:
Service production
13. …………….. cannot be separate for the labourer.
Answer:
labour
14. …………… is a passive factor of production.
Answer:
Capital
15. Sugarcane is a ……………..plant.
Answer:
money
III. Match the following:
Question
| 1. Secondary production | a) Time utility |
| 2. Tertiary Production | b) Conversion of flour into bread |
| 3. Money capital | c) Making clothes |
| 4. wheat | d) Transport |
| 5. Cotton Industry | e) Monetary Resources |
Answer:
| 1. Secondary production | b) Conversion of flour into bread |
| 2. Tertiary Production | d) transport |
| 3. Money capital | e) Monetary Resources |
| 4. wheat | a) Time utility |
| 5. Cotton Industry | c) Making clothes |
IV.True of False:
Question 1.
The total quantity of land does not undergo any change.
Answer:
True
Question 2.
Manufacture of cars comes under the primary sector.
Answer
False
V. Consider the following statements: Tick (✓) the appropriate answer:
1. Land is movable
2. Land differs infertility.
3. Land has some original Indestructible powers.
4. Land is perishable.
Question a)
Consider which of the above
a) 1 and 2
b) 2 and 3
c) 3 and 4
d) 4 and 1
Answer:
b) 2 and 3
VI. Give a short answer:
Question 1.
What is place utility? Give example.
Answer:
- Place utility is the commodity transported from one place to another.
- So the utility may increase.
- Ex: If rice is transported to Tamil Nadu from Kerala, its utility will be more.
Question 2.
What is the mixed economy?
Answer:
- The private and public sectors are existing together is known as a Mixed Economy.
- Ex: Indian Economy.
Question 3.
Point out the feature of form utility.
Answer:
- The physical form of a commodity is changed, its utility also increases.
- Ex: Cotton increases, if it is converted into clothes.
VII. Give a brief answer:
Question 1.
Explain the factors of production?
Answer:
There are two kinds of factors responsible for production.
- Primary factors
- Derived Factors
Primary Factors:
The primary Factors are land and labour. These are naturally given and without them, no goods can be produced.
Derived Factors:
Derived factors are capital and organization. These derived factors, when combined with the primary factors of production raise total production.
Question 2.
Describe the characteristics of Labour.
Answer:
- Labour is not homogenous. Skill and dexterity vary from person to person.
- Labour cannot be separated from labourer.
- Labour is like mobile moving from one place to another for occupation.
- Individual labour has only limited bargaining power. In the Trade union, Labour power increases.