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A farmer in Punjab transports wheat from...

A farmer in Punjab transports wheat from the farm to a flour mill. Is this activity considered as production? Why?

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Yes, It adds to the utility and generates income.
Value: Critical thinking
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After completing their graduation , salman and Ram decided to set up a flour mill to earn income. Their main job is to purchase wheat from the market and have ground it into flour . Their flour is available in the packets of 5 kg , 10 kg and 20 kg . they sell these under the brand name ' Desh ka Atta and earn a reasonable profit of 10% on cost . they worked very hard to flourish the business on a regular basis , and hence in no time their brand became very popular in the market . the main reasons for the success of thier business are superior quality and low price . Their business was running very well . But one day , the flour mill caught fire , and as a result they had to suffer a heavy loss . however , Salman and Ram did not lose their heart , and worked even harder . Gradually , their business was back to normal . Now , they are fully satisfeid with their business. Quoting the lines from the above para , explain any four characteristics of business.

FULL MARKS-PRODUCTION-NCERT TEXTBOOK QUESTIONS SOLVED
  1. Average product will increase only when marginal product increases. ...

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  2. Under diminishing returns to a factor, total product continues to incr...

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  3. State the behaviour of marginal product in the law of variable proport...

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  4. If diminishing marginal returns will set in after the very first unit ...

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  5. Explain the differences between variable factors and fixed factors.

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  6. Explain how is it possible for marginal product to fall while average ...

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  7. Assume the marginal product for a particular good is constant. Describ...

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  8. Comment on the following statement: "When average product and marginal...

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  9. Comment on the following statement: "Diminishing returns occur when to...

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  10. A farmer in Punjab transports wheat from the farm to a flour mill. Is ...

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  11. How can the productivity of Human resources be increased?

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  12. Availability of agricultural land (fixed factor) is limited in the wor...

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  13. Though the contribution of plastic industry in GDP is more, yet why is...

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  14. Which one of the following will be treated as labour in economics? Giv...

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  15. What efforts should be made in an economy for the continuous use of ex...

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  16. The data below shows the relationship between total output and the amo...

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  17. Give reasons for the following statements: (i) Variable factor prop...

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  18. If the total product curve is a straight line through the origin, what...

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  19. Explain the differences between variable factors and fixed factors.

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  20. Give reasons for the following statements: (i) Variable factor prop...

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