Chapter 18 ECONOMICS : People as Resource — Online MCQ Test
SOCIAL SCIENCE · CLASS 9th · Andhra State Board
Practice Chapter 18 ECONOMICS : People as Resource with a free chapter-wise online MCQ test.
This chapter covers: This chapter details human capital formation education healthcare economic roles of men and women and unemployment types and impact..
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Chapter 18 ECONOMICS : People as Resource — Important Questions & Answers
What is referred to as 'human capital'?
- A. Investment in machinery
- B. Investment in human beings via education and health
- C. Investment in land and buildings
- D. Financial savings in banks
Answer: B. Investment in human beings via education and health
Human capital is the stock of skill and productive knowledge embodied in people through education, training, and medical care.
Human capital is the stock of skill and productive knowledge embodied in people through education, training, and medical care.
Which of the following is considered an economic activity?
- A. A mother cooking food for her children
- B. A teacher teaching in a government school
- C. A person painting their own house
- D. A child playing in the park
Answer: B. A teacher teaching in a government school
Economic activities are those that add value to the national income and are performed for monetary gain.
Economic activities are those that add value to the national income and are performed for monetary gain.
Why is education considered an important investment for a country?
- A. It reduces the need for machinery
- B. It opens new horizons and provides new aspirations for development
- C. It is the only way to increase the total population
- D. It ensures everyone works in agriculture
Answer: B. It opens new horizons and provides new aspirations for development
Education contributes to personal growth and societal development by expanding opportunities and productivity.
Education contributes to personal growth and societal development by expanding opportunities and productivity.
How does human capital differ from physical capital?
- A. Human capital is tangible; physical capital is intangible
- B. Human capital is embodied in humans; physical capital consists of machines and infrastructure
- C. Physical capital increases national income, human capital does not
- D. There is no difference between them
Answer: B. Human capital is embodied in humans; physical capital consists of machines and infrastructure
Physical capital refers to tools and machines, while human capital is the skill and expertise possessed by people.
Physical capital refers to tools and machines, while human capital is the skill and expertise possessed by people.
In the context of the Indian economy, what distinguishes the 'market activities' from 'non-market activities'?
- A. Market activities are performed by the government, non-market by private firms
- B. Market activities include production for exchange; non-market activities are for self-consumption
- C. Non-market activities always result in higher profits than market activities
- D. Market activities are performed in rural areas only
Answer: B. Market activities include production for exchange; non-market activities are for self-consumption
Market activities involve remuneration for gain, whereas non-market activities are primarily for self-consumption or family needs.
Market activities involve remuneration for gain, whereas non-market activities are primarily for self-consumption or family needs.