7th Term-1 - Lesson.10 Production

Lesson.10 Production

. Choose the correct answer

1. Production refers to _________.

1. destruction of utility
2. creation of utilities
3. exchange value
4. none of these

Ans : creation of utilities

2. Utilities are in the nature of _________.

1. form utility
2. time utility
3. place utility
4. all of these

Ans : all of these

3. Primary factors are _________.

1. land, capital
2. capital, labour
3. land, labour
4. none of these

Ans : land, labour

4. The entrepreneur is also called _________.

1. exchanger
2. Agent
3. organizer
4. communicator

Ans : organizer

II. Fill in the Blanks.

1. _________ form the back bone of democracy.

Ans : Political parties

2. Every party in our country has to register with _________.

Ans : Election commission

3. Political parties serve as intermediaries between the _________ and _________.

Ans : Citizens and Policy makers

4. A registered but _________ political party cannot contest election on its own symbol.

Ans : Unrecognized

5. The leader of the opposition party enjoys the rank of _________.

Ans : Cabinet minister

III. Match the following

1. Primary production	Adam Smith
2. Time utility	fishing, mining
3. Wealth of nation	entrepreneur
4. Human capital	stored for future
5. Innovator	education, health
Ans : 1 – B, 2 – D, 3 – A, 4 – E, 5 – C