9th Class Economics Full Book Short Questions and Answers English Medium

Question # 1

What does Labour Mean?

Ans 1: "Labour " typically refers to the physical or mental exertion that people engage in to produce goods or services. In an economic context, it ofer refers to the work done by individuals in exchagne for wges or salaries. This work can include taskes such as mansufactruing products, providng services,or performing administratiive duteis.

Question # 2

What is the meaning of Scarcity.

Ans 1: Scarcity refers to the fundamental economic problem of limited resources relative to unlimited wants and needs. It's the condition where there are insufficient resources to satisfy all the wants and needs of individuals or society. In other words scarcity exists when the available resources are not enough to produce or provide all the goods and servies that people desire.
Ans 2: Scarcity forces individuals, businesses, and governments to make choices about how to allocated their limited resources efficiently. This concept is central to economics becasue it influences decisions about what to produce, how to produce, it and for whom to produce it. As a result scarcity is a key driver of economc behavior and decision making.

Question # 3

Write Kinds of Labour

Ans 1: Mental Labour: It is the struggle done with brain, We make plans to lauch any economic activity to satisfy our needs and requirements through all stages of life.
2- Physical Lobour: It is the struggle which is applied physicall , Struggle is needed to produce any good. Although a struggle cannot be measured but profit of a producer is the outcome of his mental and physical struggle. A labourer also gets wages as a result of his physical struggle.

Question # 4

Give suggesions to control populatin growth rate?

Ans 1: 1- Comprehensive Family Planning Programs: Implemet and support accessible and comphrehensive family plannign programs that provde education, counseling, and a range of contraceptive optins.
Ans 2: 2- Investment in Education: Promote education, especially for women and girls, as it correlates strongly wit lower fertility rates, Educated, women tend to have fewer children and are more likely to make informed reproductie choices, contributing to lower population growth.
Ans 3: 3- Healthcare services: Strnegthen healthcare systems to provide quality meaternal and child health servifes, including prenatal cae, safe delivery facilities, and postnatal care. Improving healthcare access and quality can reduce infant and materanal mortality rates, which in turn can lower fertility rates as families feel more confident about the survival of their children.

Question # 5

Define Economics

Ans 1: The word 'economics' is derived from a Greek wordl " Oikonomos" ,which means 'Houshold Management'.In the beginning, the subject of economics was related to the efforts of an individual hosehold management in which man tied to fulfill unlimited wants with limitd resorueces. Human material welfare is always the basic motive for these efforts.

Question # 6

What is Production of Wealth

Ans 1: Wealth is produced with the combined efforts of forur factors of production which are, land , Labour, capital and organization. It is called production of wealth.

Question # 7

Write Important Features of Economcis.

Ans 1: Important features of the definition are given below:
1- Economics is gthe study of daily activities of mankind.
2- Economics deals with the making of material goods either individually or collectively It ignores non material things.
3- Economics is linked with only those economic activitis, which generate materail requistes of well being.
4- Economics studies the wealth of nations only becuse it helps to gain himan welfare.

Question # 8

Perfect Define of Equilibrium

Ans 1: Equilibrium in economics refers to the state of balance in market, where the quanitty demanded by consumers equals the quantity supplied by producers at a particualr price level. This equilibrium price and quantity represent the pointof agreement between buyers and sellers, ensuring that all goods or services produced are effectively consumed, and there is no excess supply or demand.

Question # 9

Define Stock

Ans 1: Stock typically refers to two main concepts:
1- Inventory: In a business context, stock ofter refers to the inventory of goods or materials that a company holds for the pursoe of resale or use in production. It includes finished goods ready for sale, work in progress, and raw materials
Ans 2: 2- Ownership in a company: Stock can also represent ownership shares in a corporation. When a company decides to raise capital by issuing shares, it divides it ownship into units called shares or stock.

Question # 10

Write three factors the affect the quantity supplied.

Ans 1: 1- Price of the Goods or Service: The Most significant fator inluencing the quantity supplied is the price of the good or service itself.Generally, as the price increaes, producers are willing to supply more of the product to the market becase it becomes more profitable to do so.
Ans 2: 2- Cost of Production:The cost of producing the good or service, including raw materials, lobor rent ,and other inputs, direcly impacts the quantity supplied.
Ans 3: 3- Technolgical Advacements: Improvements in technology can incresse production efficiency and reduce costs, leadingto an increase in the quanitity supplied, Conversely, outdated orinefficient technology many limit production capacity and decrese supply.

Question # 11

What is the slope of a demand curve?

Ans 1: The slope of a demand curve represent the rate at which quantity demadned chagnes in respense to a change in price. It's typically negative,indicating that as the price of a good or service increases, the quantity demanded decreases. The magnitude of the slope indicates the degree of responsivenss of quantity demanded to chagne in price, known as price elasticity of demand.

Question # 12

Write short note Industrial Backwardness.

Ans 1: Insudstrial Backwardness refers to the condition where anindustry or a region lags behind in terms of technological advancements, infractructure, productivity and overall economic develpmetn compared to more advanced contrerparts. This sate can arise due to various factors such as inadequate investment i research and develpmetn, lakck of skilled labor, outdated infrastructure, inefficent managemtn practies, or unfavorable governemtn policies.

Question # 13

What is determined by the intersection of supply and demand?

Ans 1: The intersection of supply and demand in economics determines the equilirbium price and quantity of a good o service in a market. At this interesection point. the quantity of the good that producers are wlling to supply mathches the quantity that consumers are willing to buy.

Question # 14

What is remedial Measures of Illitercy.

Ans 1: 1- Access to education should be made easy, especially in rural localities.
2- Government should provide lucrative incentives to the private education sector topromote investment in deucation.
3- Share of education in budget soudl be raised to a least 4% of GNP, according to the UNESCO guidelines.

Question # 15

Market Equilibrium Explaination with Diagram

Ans 1:

Question # 16

Define Literacy

Ans 1: Educaton is a basi elemen for contnuous and sustainble economic developmetn of any country, Unfortunately, education facitlities in our country are very littile. Education occupies a lowr priority in our budget and only 2.2 % of our GDP is spent of it.

Question # 17

Define Meaning of Supply

Ans 1: "Supply is the quantity of a good sellers wish to sell in the market at a specifict time and price".

Question # 18

What is Wants Mean

Ans 1: Wants mean desires and needs for good and servives which provide utility. People indulge themselves in various economic activities till the time of death in order to fulfill their ever emerging wants.

Question # 19

Write the functional dquation of demand

Ans 1: The functional equation of demand, ofter represented as Qd= f (P, I,T,O,.....) Where :
Ans 2: Qd = represents the quantity demanded of a good or service.
P = Represents the pric of the good or service.
I = Represents the income of consumers.
T = Rrpresents the tastes or preferences of consumers.
O = Represents other relevant factors that may influence demand.

Question # 20

Demand Demand.

Ans 1: Demand refers to the quantity of a good or service that consumers ae willing and able to purchase at vaious prices during a specific period. It represents the desire and purchasing power of consumers for a particular product or service. Demand is influencedby various factors including price, consumer preferences,income level, and the availbility of subsititutes, In ecomics, demand is ofter depicted graphically as a downward sloping curve, indicating an invers relationship between price and quantity demanded, assuming othe rfactor remain constant.

Ch. #	Test Name	Total Questions	PDF File	Launch Test
1	9th Class English Medium Economics Chapter 1	14	Download PDF	Launch Test
2	9th Class English Medium Economics Chapter 2	13	Download PDF	Launch Test
3	9th Class English Medium Economics Chapter 3	10	Download PDF	Launch Test
4	9th Class English Medium Economics Chapter 4	11	Download PDF	Launch Test
5	9th Class English Medium Economics Chapter 5	10	Download PDF	Launch Test
6	9th Class English Medium Economics Chapter 6	10	Download PDF	Launch Test
7	9th Class English Medium Economics Chapter 7	10	Download PDF	Launch Test

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