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

Question # 1

What does material welfare menas.

Ans 1: Material welfare refers to the state or condition of well -being or prosperity, Primaril focused on material possessions, resources, and comforts, It encompasses the tangible aspects of lime such as access to basic necessities like food, shelter, clothig, as well as the ability to acquire goods and services that enhance quality of life. Material welfare is often measured by actors such as income levels, standard of living, access to health care and educationnnnn, employment opportunities,and overall economicstability.

Question # 2

What is Consumption of Wealth

Ans 1: It is that part of wealth with we spend on necessities of life.

Question # 3

Define Capital

Ans 1: "Capital is the wealth wich yield an income or aids in the production of an income or is intended to do so".

Question # 4

Define Economics of Alfred Marshall

Ans 1: Alfred Marshall wrote the book on "Princles of Economics" in 1890 According to him,
Ans 2: "Economics is the study of mankind in the ordinary business of life it examines that part of individual and social action which is most closely connectd with the attainment and with the use of the material requistes of well beings."

Question # 5

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 # 6

What is mean of Utility

Ans 1: In economics, "Utlity" refers to the satisfaction or usefulness that a consumer derives from consuming a good or service, It's a measufe of the level of satisfaction or happiness that an individual obtains from the consumption of a particular produce or service. Utility is a subjective concept, meaning it aries from person to person and can't be measure dobjectively Economists often use the concept of utility to understand consumer behavior, preferences,and choices.

Question # 7

The Correct Definiation of Economics.

Ans 1: The subject of economics is very old . At different times economists defined it differently on the basis of individual observation undr diffrent economc situation or circumstance.

Question # 8

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 # 9

What is Capital mean?

Ans 1: Capital generrally refers to the finaicial resoruces, machinery, equipment, and infrastructure uesed in the production of goods or the provision of serices in an economy.
Ans 2: 1- Physical Capital: This includes tangible assets such as buildings, machinery vechicles, tools, and equipment used in production processess.
Ans 3: 2- Financial Capital: Refers to money or funds available for investment in businesses or other ventures.Fincial capital can come from sources such as savings, investmetns, lons, or venture capital
Ans 4: 3- Human Capital: This reprsents the skills, knowledge, expertiese,and abilities of invidiuals that contribute to econmic productivity. Human capital is ofter developed through education training, and expereince.

Question # 10

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 # 11

Write Causes of agriculural backwardness

Ans 1: 1- Low income of Farmers: Due to low income level, farmers could not afford improved seed, quality fertilizers and modern agricultural implemtns necessary to increase agricultural production.
2- Water logging and salinity: According to an estimate, almost 17% of land is affected by water loggingand 33% by salinity. This has rendered about one fifth of our agricultural land useles.
3- Primitive Methods of Cultivation: Majority of our farmers are either not conversant ith the modern agriculture technology or not ableto efficiently make use of it due to lake of proper information, eduatin and training. It cause undertilization of production capacity of the land and therefore per care yield remains low.

Question # 12

What does land mean?

Ans 1: Land generally refers to the solid surface of the Earth that is not convered by water It encompases various types of terrain such as plains, mountains, valleys deserts, forest, and more,in a legal context."Land" oftten includes not only the surface of the earth but also everything attached to it, such as buildings, trees, minerals, and water rights. Land is a critical resource for human activities, including agriculture, housing , industry, and recreation.

Question # 13

Write Characteristics of Utility

Ans 1: 1- Utility depends upon the intensity of a human desire. Thus it varies from an individual to individual.
2- Utility of a commodity increasses with its multile uses, Electricity and natural gas have great utility because they are used for many purposes.
3- Utility depends on the use of a good by a particular consumer For an uneducated person, a pen has no utility whereas for a student it has utility.
4- Utility provides a base for demand Only that good or service is demanded which has a utility.
5- although all useful thing possess utility but all thing that have utility may not be sueful.

Question # 14

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 # 15

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 # 16

Define Micro -economics.

Ans 1: Micro -economics is concerned with thesmall individual parts of the economy it deals with the study of the behaviour of buyers and sellers in the market for particular goods or service. For example a sutdy of consumer behaviour price determination of one good, analysis of one firm etc.

Question # 17

Defination of Economics of Adam Smith.

Ans 1: Adam Smithis called the founder of economics, According to him "Economcis is a science of wealth". He wrote a book in 1776 named."An Enquiry into the Nature and Causes of Wealth of Nations. " Inhis book , Adam Smith explained economics as.
" A study of wealth conerning with the production, consumption, distribution and exchenge of wealth in the buman society."

Question # 18

Define Macro - economics

Ans 1: Macro-economics is the study of economic system as a whole instead of small units, It develops relatiionshp between major economic aggrgates and average. Fro example it considears income of a country instead of an individual unemployment of a country instead of an individual etc.

Question # 19

What is Distribution of Wealth.

Ans 1: Wealth is distiuted among four factors of production in the form of rent weages,interest and profits, Rent is paid for land , wages for labour, intererst to capital and profits to organization.

Question # 20

Write down Kinds of Wants.

Ans 1: 1- Economics Wants: These are wants which can be satisfied only by paying for them if we need a haircut we have to py for it.If hunger strikes us at school we have to pay for eatables.
2- Non -Economic Wants: These wants can be fulfilled without payingin money terms. We want and get love, air an dlight without any payment. Such goods for which we do not have to pay are called free goods for example the air we breath in the sunshine, rain water, water in ocean etc.

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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