Samacheer Guide 7th Social Science Economics Answers Term 1 Chapter 1 Production

Samacheer Kalvi 7th Social Science Economics Solutions Term 1 Chapter 1 Production

Students can Download Social Science Economics Chapter 1 Production Questions and Answers, Notes 

Tamilnadu Samacheer Kalvi 7th Social Science Economics Solutions Term 1 Chapter 1 Production

I.Choose the correct answer:

Question 1.

Production refers to

(a) destruction of utility

(b) creation of utilities

(c) exchange value

(d) none of these

Answer:

(b) creation of utilities

Question 2.

Utilities are in the nature of

(a) form utility

(b) time utility

(c) place utility

(d) all of these

Answer:

(d) all of these

Question 3.

is carried out by extractive industries.

(a) Secondary production

(b) Primary production

(c) Tertiary production

(d) Service production

Answer :

(b) primary production

Question 4.

Primary factors are

(a) land, capital

(b) capital, labour

(c) land, labour

(d) none of these

Answer:

(c) land, labour

Question 5.

The entrepreneur is also called

(a) exchanger

(b) Agent

(c) organizer

(d) communicator

Answer:

(c) organizer

II. Fill in the Blanks

1. ________ means want satisfying power of a product.
2. Derived factors are ________ and ________
3. ________ is a fixed in supply.
4. ________ is the human input into the production process.
5. ________  is the man made physical goods used to produce other goods and services.

Answer:

1. Utility
2. Capital, Organization
3. Land
4. Labour
5. Capital

III. Match the following

       A B

1. Primary production  - (i) Adamsmith
2. Time utility - (ii)  Fishing, mining
3. Wealth of nation - (iii) Entrepreneur
4. Human capital - (iv) Stored for future
5. Innovator - (v) Education, health

Answer:

1. ii
2. iv
3. i
4. v
5. ii

IV.Give short answer:

Question 1.

What is production?

Answer:

• Production is a process of combining various material inputs and immaterial inputs in order to make something for consumption (the output).

Question 2.

What is utility?

Answer:

• Utility means want satisfying power of a product.

Question 3.

Name the types of utility.

Answer:

• Form utility
• Time utility and
• Place utility

Question 4.

Name the types of production.

Answer:

There are three types of production

• Primary production
• Secondary Production
• Tertiary or Service Production

Question 5.

What are the factors of production?

Answer:

The factors of production

• Land
• Labour
• Capital
• Organization

Question 6.

Define Labour.

Answer:

• Alfred Marshall defines labour as, ‘the use of body or mind, partly or wholly, with a view to secure an income apart from the pleasure derived from the work’.

Question 7.

Define Division of labour.

Answer:

• Division of labour means dividing the process of production into distinct and several component processes and assigning each component in the hands of a labour or a set of labourers, who are specialists in that particular process.

Question 8.

Write the forms of capital.

Answer:

• Physical Capital or Material Resources, Ex. Machinery, tools, buildings, etc.
• Money capital or Monetary resources, Ex. Bank deposits, shares and securities, etc.
• Human capital or Human Resources Ex. Investments in education, training and health

Question 9.

Who is the changing agent of the society? .

Answer:

• The entrepreneur is also called ‘Organizer’. In, modem times, an entrepreneur is called ‘the changing agent of the society’.

Question 10.

Write the three characteristics of entrepreneur.

Answer:

• Identifying profitable investible opportunities
• Deciding the location of the production unit
• Making innovations

V. Give brief answer.

Question 1.

Explain the types of production.

Answer:

There are three types of production

• Primary production
• Secondary Production
• Tertiary or Service Production

1. Primary Production:

• Primary production is carried out by ‘extractive’ industries like agriculture, forestry, fishing, mining and oil extraction.
• These industries are engaged in such activities as extracting the gifts of nature from the earth’s surface, from beneath the earth’s surface and from the oceans.

2. Secondary Production:

• This includes production in manufacturing industry, turning out semi-finished and finished goods from raw materials and intermediate goods, conversion of flour into bread or iron ore into finished steel.
• They are described as manufacturing and construction industries.
• Such as the manufacture of cars, furnishing, clothing and chemicals, as also engineering and building.

3. Tertiary Production

• Industries in the tertiary sector produce all those services which enable the finished goods to be put in the hands of consumers.
• These services are supplied to the firms in all types of industry and directly to consumers.
• Ex. cover distributive traders, banking, insurance, transport and communications. Government services, such as law, administration, education, health and defence, are also included.

Question 2.

What is land ? What are the characteristics of land?

Answer:

Land as a factor of production refers to all those natural resources or gifts of nature which are provided free to man.

Characteristics of Land:

• Land is a Free Gift of Nature
• Land is fixed in supply
• Land is imperishable
• Land is a Primary Factor of Production
• Land is Immovable
• Land has some Original Indestructible Powers
• Land Differs in Fertility

Question 3.

Explain the merits and demerits of division of labour.

Answer:

Merits of division of labour

• It improves efficiency of labour when labour repeats doing the same tasks.
• Facilitates the use of machinery in production, resulting in inventions.
• Time and Materials are put to the best and most efficient use.

Demerits of division of labour

• Repetition of the same task makes labour to feel that the work is monotonous and stale. It kills the humanity in him.
• Narrow specialization reduces the possibility of labour to find alternative avenues of employment. This results in increased unemployment.
• Reduce the growth of handicrafts and the worker loses the satisfaction of having made a commodity in full.

Question 4.

Describe the characteristics of capital.

Answer:

Characteristics of Capital

• Capital is a passive factor of production
• Capital is man-made
• Capital is not an indispensable factor of production
• Capital has the highest mobility
• Capital is productive
• Capital lasts over time
• Capital involves present sacrifice to get future benefits

Question 5.

What are the functions of entrepreneur?

Answer:

The functions are

• Decision making
• Management control
• Division of income
• Risk-Taking
• Uncertainty-Bearing

VI. Activity and Project

Question 1.

Students are asked to prepare a chart containing dummy images of primary, secondary and tertiary sectors images.

Answer:

Question 2.

Students are asked to visit some local farmers and to discuss about the land and its characteristics. Collect some photographs of land and make a album.

Answer:

• We visited a local farm which is built with in an existing coconut grove. This thatched ‘ roofed structure is made from materials mostly from the farm.
• The land is then made suitable for cultivation using organic farming method.
• They grow vegetables and fruits which will produce a good yield in that soil.
• They first test the soil and make sure that it is suitable for growing vegetables and fruits.

VII. Life skills:

Question 1.

Students to know about the characteristics of entrepreneur, Set up your classroom like a industry. Some Students are asked to act like a businessman, Do the industries activities. Teacher and students together discuss about the entrepreneur and their important of development of society.

Answer:

Role of business man:

• Ensures smooth operation of his business. He coordinates with people to procure the factors of production namely land, labour and capital. He has to look into access of raw materials needed, skilled labour transport and the prospects to market the products.

I. Choose the correct answer:

Question 1.

Indian Economy is a ______ Economy.

(a) Private

(b) Public

(c) Mixed

(d) Socialist

Answer:

(c) Mixed

Question 2.

The most to the Gross Domestic product of our country is contributed by the ______ sector.

(a) Tertiary

(b) Primary

(c) Secondary

(d) All the above

Answer:

(a) Tertiary

Question 3.

_______ is known as ‘Father of Economics.

(a) Alfred Marshall

(b) Adam Smith

(c) Karl Mark

(d) Amartya Sen

Answer:

(b) Adam Smith

Question 4.

_______ cannot be stored.

(a) Land

(b) Capital

(c) Organisation

(d) Labour

Answer:

(d) Labour

II. Fill in the blanks:

1. _____ can be both customers of the producers and suppliers to the producers.
2. Entrepreneurship is otherwise called ______
3. ______ is more perishable than other factors of production.
4. The Theory of Moral Sentiments’ was written by ______

Answer:

1. Consumers
2. Organization
3. Labour
4. Adam Smith

III. Match the following:

1. Primary sector i Defence
2. Secondary sector ii Cotton Industary
3. Tertiary sector iii Food Production

Answer:

ii

iii

i

IV. Answer the following in one or two sentences:

Question 1.

What is a mixed Economy?

Answer:

• An Economy in which Private and Public sectors co-exist is a mixed economy. Eg. India.

Question 2.

Name the components of Human activity.

Answer:

• Production and consumption.

Question 3.

What are Primary factors of production?

Answer:

• Land and Labour

Question 4.

What are derived factors of production?

Answer:

• Capital and Organisation.

Question 5.

What is capital?

Answer:

• Capital is man made physical goods used to produce other goods and services. In short, Capital means money.

VI. Answer the following in Detail:

Question 1.

Explain the types of utility.

Answer:

Types of Utility

Form utility:

• If the physical form of a commodity is changed, its utility may increase. Eg. Cotton increases, if it is converted into clothes.

Place utility:

•  If a commodity is transported from one place to another, its utility may increase. Eg. If rice transported to Tamilnadu to Kerala, its utility will be more.

Time utility : 

• If the commodity is stored for future usage, its utility may increase. Eg. Agricultural commodities like Paddy, Wheat, etc. are stored for the regular uses of consumers throughout the year.

Question 2.

Mention the characteristics of Labour.

Answer:

• Labour is more perishable than other factors of production.

• Labour cannot be stored.

• Labour is an active factor of production.

• Labour is not homogeneous.

• Labour cannot be separated from the labourer.

• Labour is mobile.

• Individual labour has only limited bargaining power. He cannot fight with his employer for a rise in wages or improvement in work-place conditions.

Question 3.

Mention the characteristics of entrepreneur.

Answer:

• An entrepreneur is a person who combines the different factors of production (land, labour and capital), in the right proportion

• Initiates the process of production and bears the risk involved in it.

• He is not only responsible for producing the socially desirable output but also to increase the social welfare.

• Identifying profitable investible opportunities

• Deciding the location of the production unit

• Making innovations

• Deciding the reward payment

• Taking risks and facing uncertainties