CA CPT - Basics of General Economics - Production Concepts

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Question - 1

In Economics,______refers to any economic activity, which is directed towards satisfaction of human wants

  • A Production
  • B Distribution
  • C Consumption
  • D Economics

Question - 2

In Economics, Production refers to any economic activity

  • A Which results in a tangible product or commodity
  • B Which is directed at the satisfaction of human wants
  • C Both (a) and (b)
  • D Neither (a) nor (b)

Question - 3

Which of the following statement is True? Production can be defined as

  • A Creation or addition of utility
  • B Conversion of raw material into finished goods
  • C An activity of making something immaterial
  • D All of these

Question - 4

In Economics, Production refers

  • A Creation of utility
  • B Satisfaction of utility
  • C Both (a) and (b)
  • D Neither (a) nor (b)

Question - 5

Production may be defined as an act of-

  • A Creating utility.
  • B Earning profit
  • C Destroying utility
  • D Providinq services

Question - 6

Production is a / an_______activity.

  • A Charitable
  • B Beneficial
  • C Economic
  • D Successful

Question - 7

Production does not consist of which of the following activities?

  • A Changing the form of natural resources
  • B Changing the place of the resources
  • C Both of the above
  • D None of the above

Question - 8

Production = Creation of Utility. This statement is

  • A True
  • B False
  • C Partially True
  • D None of the above

Question - 9

Production = Satisfaction of Utility. This statement is

  • A True
  • B False
  • C Partially True
  • D None of the above

Question - 10

Production refers to

  • A Creation of value
  • B Addition of value
  • C Both (a) and (b)
  • D Neither (a) nor (b)
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