1.
The income earned by the factor of production, ‘enterprise’ is
a) interest
b) profit
c) rent
d) wages or salaries
2. The resources used by countries to
produce goods and services are called
a)
Factors of production
b)
Sectors of production
c)
Production
d)
Productivity
WEEKLY ASSIGNMENT 10 Grade: 08 Date: Class: Index: Name: Exercise 01. Underline the one you consi...
Grade:
08
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Date:
|
Due
on:
|
Class:
|
Index:
|
Name:
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Exercise
01. Fill in the blanks by using the following words.
Price Firms Process Demand
Market Production Resources Scarce
Price mechanism refers to
the ………………………… by which prices are determined by the ………………………… forces of
demand and supply. In a Laissez Fair Economy, resources are allocated by the …………………………
mechanism. When demand for a particular good increases, it will become more …………………………
and its price will increase. As it becomes more profitable ………………………… will use
more resources for its production. When the ………………………… for a particular product
falls its price falls and it becomes less profitable. Few ………………………… will be
used for its ………………………… now. In a Market Economy changes in price act as a
signaling device to producers and consumers causing them to change their plans.
Exercise 02. Answer the following structured question.
WEEKLY ASSIGNMENT 09 Grade: 08 Date: Due on: Class: Index: Name: ...
Grade:
08
|
Date:
|
Due
on:
|
Class:
|
Index:
|
Name:
|
Exercise
01. Memorize the spelling of the following words.
1.
RESOURCES
2.
ENOUGH
3.
SUPPLY
4.
PRODUCE
5.
SERVICES
6.
SATISFY
7.
WANTS
8.
9.
ALLOCATION
10. APPORTIONMENT
11. SOLUTION
12. COMMON
13. DEMAND
14. DECIDE
15. PRODUCTION
|
16. QUALITY
17. QUANTITY
18. AVAILABLE
19. FIRM
20. PROCESS
21. LABOUR
22. METHOD
23. INTENSIVE
24. EMPLOY
25. CAPITAL
26. DISTRIBUTION
27. INCOME
28. CONSUMPTION
29. UTILIZATION
30. INCREASE
|
WEEKLY ASSIGNMENT 08 Grade: 08 Date: Due on: Class: Index: Name: ...
Grade:
08
|
Date:
|
Due
on:
|
Class:
|
Index:
|
Name:
|
Exercise
01. Compare the two types of economic
system.
Type
|
Market Economy
|
Planned Economy
|
Definition
|
……………………………………………………….
……………………………………………………….……………………………………………………….……………………………………………………….……………………………………………………….
|
……………………………………………………….
……………………………………………………….……………………………………………………….……………………………………………………….……………………………………………………….
|
Features
|
……………………………………………………….……………………………………………………….……………………………………………………….……………………………………………………….……………………………………………………….……………………………………………………….……………………………………………………….……………………………………………………….……………………………………………………….……………………………………………………….
|
……………………………………………………….……………………………………………………….……………………………………………………….……………………………………………………….……………………………………………………….……………………………………………………….……………………………………………………….……………………………………………………….……………………………………………………….……………………………………………………….
|
Advantages
|
……………………………………………………….……………………………………………………….……………………………………………………….……………………………………………………….……………………………………………………….……………………………………………………….……………………………………………………….……………………………………………………….……………………………………………………….……………………………………………………….
……………………………………………………….……………………………………………………….
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……………………………………………………….……………………………………………………….……………………………………………………….……………………………………………………….……………………………………………………….……………………………………………………….……………………………………………………….……………………………………………………….……………………………………………………….……………………………………………………….
……………………………………………………….……………………………………………………….
|
WEEKLY ASSIGNMENT 07 Grade: 08 Date: Due on: Class: Index: Name: ...
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