Chapter 14: Economic Structure — Online MCQ Test
SOCIAL SCIENCE · CLASS 9th · Karnataka State Board
Practice Chapter 14: Economic Structure with a free chapter-wise online MCQ test.
This chapter covers: Focusing on economics this chapter covers economic systems national income indicators production factors and structural composition of the economy..
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Chapter 14: Economic Structure — Important Questions & Answers
Which of the following is the main purpose of an economic system?
- A. To decide how resources are used to produce goods and services
- B. To conduct elections in a country
- C. To determine weather conditions
- D. To measure literacy rates
Answer: A. To decide how resources are used to produce goods and services
An economic system organizes how a country uses its scarce resources to produce and distribute goods and services.
An economic system organizes how a country uses its scarce resources to produce and distribute goods and services.
National income is best described as:
- A. The total value of goods and services produced in a country in a year
- B. The total money kept in banks by citizens
- C. The total taxes collected by the government
- D. The total exports of a country only
Answer: A. The total value of goods and services produced in a country in a year
National income refers to the value of all final goods and services produced in an economy during a year.
National income refers to the value of all final goods and services produced in an economy during a year.
If a country increases the use of machines and technology in production, which factor of production is being improved most directly?
- A. Land
- B. Capital
- C. Labour
- D. Nature
Answer: B. Capital
Machines, tools, and technology are forms of capital used to produce more efficiently.
Machines, tools, and technology are forms of capital used to produce more efficiently.
A country has large natural resources but low industrial output. Which factor is most likely limiting production?
- A. Lack of land
- B. Insufficient capital and technology
- C. Too much rainfall
- D. Excess population only
Answer: B. Insufficient capital and technology
Natural resources alone are not enough. Capital, technology, and organisation are needed to convert resources into goods.
Natural resources alone are not enough. Capital, technology, and organisation are needed to convert resources into goods.
Which of the following is the most appropriate example of entrepreneurial function in production?
- A. A worker operating a machine
- B. A landowner renting fields
- C. A person taking risk and organizing resources to start a business
- D. A consumer buying vegetables
Answer: C. A person taking risk and organizing resources to start a business
Entrepreneurship involves organizing land, labour, and capital, and taking risks to produce goods or services.
Entrepreneurship involves organizing land, labour, and capital, and taking risks to produce goods or services.