CBSE Class 9 Social Science Building Blocks in Economics: The Problem of Choice (Class 9 NCERT New) Quiz 4

1. If you have exams tomorrow, what is the rational choice?

A Study for the exams B Watch a movie C Go out with friends D Ignore the exams

2. A rational choice means:

A Random decision B Decision giving maximum satisfaction C Expensive decision D Emotional decision

3. Match the factor with its reward: Factor: Land, Labour, Capital, Enterprise Reward: Rent, Wages, Interest, Profit

A Land - Rent, Labour - Wages, Capital - Interest, Enterprise - Profit B Land - Wages, Labour - Rent, Capital - Profit, Enterprise - Interest C Land - Interest, Labour - Profit, Capital - Wages, Enterprise - Rent D Land - Profit, Labour - Interest, Capital - Rent, Enterprise - Wages

4. Choosing to buy a cheaper meal instead of an expensive one is an example of a choice made because of what?

A Limited money or time B Having too many options C Wanting to try something new D Following a friend's advice

5. The three central problems of an economy are:

A What to produce, how to produce, and for whom to produce B How to increase exports, how to reduce imports, and how to balance the budget C How to control inflation, how to create jobs, and how to reduce poverty D What goods to import, what goods to export, and how to set prices

6. If goods and services are produced by employing more labour and less capital it is known as __________ method of production.

A Labour intensive B Capital intensive C Automated D Mechanized

7. Capital intensive method of production refers to a method that mainly uses which of the following?

A A large amount of capital and machinery B A large number of workers C Natural resources only D Manual tools and simple equipment

8. Which one is not a factor of production?

A Land B Labour C Capital D Enterprise 5 Money

9. Which of the following is an example of a rational choice?

A Choosing to save money for future needs instead of spending it all now. B Deciding to ignore important information when making a decision. C Making a choice based solely on emotions without considering consequences. D Selecting an option at random without any reasoning.

10. Which of the following is an example of production, consumption, or distribution in your daily life?

A Eating breakfast at home B Watching television C Sleeping during the day D Reading a novel