Question : The central economic problem of every society is
Option 1: To maintain peace in the world.
Option 2: To prevent famine in rural areas
Option 3: The scarcity of economic resources
Option 4: Decentralization of power
Correct Answer: The scarcity of economic resources
Solution : The correct answer is (c) The scarcity of economic resources
The other options are not central economic problems. Peace in the world and preventing famine in rural areas are important goals, but they are not economic problems. Decentralization of power is a political issue, not an economic one. The scarcity of economic resources is the fundamental economic problem because it forces societies to make choices about how to allocate their resources. There are always more wants than there are resources to satisfy them, so societies must decide what goods and services to produce, how to produce them, and for whom to produce them.
Question : Economic problem is a problem of ________.
Option 1: Choice
Option 2: Scarcity
Option 3: Unlimited resources
Option 4: Alternative uses
Question : Society faces economic problems because of
Option 1: Abundance
Option 3: Both scarcity and abundance
Option 4: Neither abundance nor scarcity.
Question : What is the concept of the rural-urban continuum in Indian society?
Option 1: The clear division between rural and urban areas
Option 2: The qradual transition from rural to urban characteristics
Option 3: The migration from rural to urban areas
Option 4: The economic disparity between rural and urban regions
Question : The fundamental or central economic problem of every society is
Option 1: What to produce
Option 2: How to produce
Option 3: For whom to produce
Option 4: All of the above
Question : Which factor has significantly contributed to the rise of regional parties in India?
Option 1: Centralization of power
Option 2: Decentralization of power
Option 3: Foreign influence
Option 4: Economic growth
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