People As Resource Test

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People As Resource Test - 10

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Weekly Quiz Competition

Question 1
1 / -0

Which of the following is not a part of the opportunity cost of going on holiday?

A
The money you spent on a theatre show.

B
The money you could have made if you had stayed at home and worked.

C
The money you spent on airline tickets.

D
The money you spent on food.

Solution

The money spent on food is not a part of the opportunity cost of going on holiday.Opportunity cost of production of a commodity refers to the cost which has to be sacrificed in terms of the next best alternative which could be produced out of that cost. Therefore, food is part of our everyday expense which will not be considered as the sacrifice of any other commodity.
Question 2
1 / -0

In which of the following cases opportunity cost will apply.

A
Resources have alternative uses

B
Resource have limited uses

C
Resources have no uses

D
None of these

Solution

When the resources have alternative uses then opportunity cost will apply.
As opportunity cost refers to what you have to give up to buy what you want in terms of other goods or services so for opportunity cost we need alternatives.
Question 3
1 / -0

The characteristics of population are described as________________.

A
demographic transition

B
demographic features

C
demographic theory

D
demographic crowding
Question 4
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In Economics, generalization of theories is not possible due to the fact that.

A
Resources are limited

B
There is no Centre or Laboratory to conduct economic experiments

C
Human Behaviour is unpredictable

D
There is no Economist at all
Question 5
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Production is a / an _____________ activity.

A
Charitable

B
Beneficial

C
Economic

D
Successful

Solution

Economic activity is an activity that generates income and involves production, sale and distribution of goods and services. The motive behind an economic activity is to earn money and not to meet emotional and sentimental human needs.
Thus, production is an economic activity that generates income and is undertaken with a motive to earn profit.
The correct option is C.
Question 6
1 / -0

Population refers to ____________________.

A
total number of citizens of a country

B
total number of people residing in the world

C
total number of people registered as Voters with Election Commission

D
total number of people residing in a place
Question 7
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Which of the following is not a characteristic of population study?

A
Size of population.

B
Density of population.

C
Unemployment.

D
Life-Expectancy at Birth.
Question 8
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Optimum population is level of population at which ___________________.

A
output per capita is the highest

B
output per capita is the lowest

C
output per capita is the same

D
none of the above
Question 9
1 / -0

Which of the following is not a characteristic of Population study?

A
Rate of Growth in Population.

B
Poverty.

C
Birth and Death Rates.

D
Sex-Ratio.
Solution
The population has the following characteristics:
1. Population Size and Density: Total size is generally expressed as the number of individuals in a population. Population density is defined as the numbers of individuals per unit area or per unit volume of environment.
2. Population dispersion or spatial distribution: Dispersion is the spatial pattern of individuals in a population relative to one another.
3. Age structure: In most types of populations, individuals are of different age. The proportion of individuals in each age group is called age structure of that population.
4. Mortality (death rate): Mortality means the rate of death of individuals in the population.
  Hence, correct answer is option B.
Question 10
1 / -0

Which of the following is/are an outcome of a technological change?

A
A downward shift in the production function

B
Same output with fewer inputs or more output with same inputs

C
Invention of a product or production process

D
Both (b) and (c) above

Solution

1) Same output with fewer inputs or more output with same inputs
2) Invention of a product or production process
Both the situations can be defined as an outcome of a technological change as the production rises because of technological advancement in both the situation.
As a result, the production possibility curve will shift to the right.

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Re-Attempt Weekly Quiz Competition

People As Resource Test - 10

Result

People As Resource Test - 10

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SHARING IS CARING

Question 1

The money you spent on a theatre show.

The money you could have made if you had stayed at home and worked.

The money you spent on airline tickets.

The money you spent on food.

Solution

Question 2

Resources have alternative uses

Resource have limited uses

Resources have no uses

None of these

Solution

Question 3

demographic transition

demographic features

demographic theory

demographic crowding

Question 4

Resources are limited

There is no Centre or Laboratory to conduct economic experiments

Human Behaviour is unpredictable

There is no Economist at all

Question 5

Charitable

Beneficial

Economic

Successful

Solution

Question 6

total number of citizens of a country

total number of people residing in the world

total number of people registered as Voters with Election Commission

total number of people residing in a place

Question 7

Size of population.

Density of population.

Unemployment.

Life-Expectancy at Birth.

Question 8

output per capita is the highest

output per capita is the lowest

output per capita is the same

none of the above

Question 9

Rate of Growth in Population.

Poverty.

Birth and Death Rates.

Sex-Ratio.

Solution

Question 10

A downward shift in the production function

Same output with fewer inputs or more output with same inputs

Invention of a product or production process

Both (b) and (c) above

Solution

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