Detailed Understanding Society India and Beyond Class 9 Solutions and Class 9 Social Science SST Chapter 8 Building Blocks in Economics The Problem of Choice Question Answer NCERT Solutions make it easier to complete textbook exercises.
Class 9 SST Chapter 8 Building Blocks in Economics The Problem of Choice Question Answer
Class 9 Building Blocks in Economics The Problem of Choice Question Answer
The Big Questions (Page No. 183)
Question 1.
What does economics deal with?
Answer:
Economics deals with the study of how individuals, businesses, and governments use limited resources to satisfy unlimited wants. It helps in making choices about the production, distribution, and consumption of goods and services.
Question 2.
What are the key questions in economics?
Answer:
The key questions in economics are
- What to produce?
- How to produce?
- For whom to produce?
Question 3.
How do different economic systems address these questions?
Answer:
Different economic systems answer these questions in different ways. In a planned economy, the government makes major economic decisions. In a market economy, demand and supply determine production and distribution with limited government intervention. A mixed economy combines both systems, where the government and private sector share responsibility for economic decisions.
Building Blocks in Economics The Problem of Choice Question Answer Class 9
InText Questions
Question 1.
List three things your parents bought this month. Can you classify them into needs or wants? (Page No. 184)
Answer:
The following table classifies three items purchased this month into needs and wants.
| Item Purchase | Need/Want |
| Groceries | Need |
| School notebooks | Need |
| New headphones | Want |
Question 2.
Do you think having too many wants may create problems? Why or why not? (Page No. 184)
Answer:
Yes, having too many wants may create problems because resources such as money, time, and natural resources are limited. Trying to satisfy every want can lead to unnecessary spending, waste of resources, and environmental problems.
Question 3.
Ask your parents about how they make choices for everyday purchases. What is the opportunity cost of making a particular decision? (Page No. 186)
Answer:
My parents compare prices, quality, and usefulness before buying a product. They give priority to essential items and stay within their budget. The opportunity cost of a decision is the next best alternative that is given up. For example, if they buy a new school bag instead of a pair of shoes, the shoes become the opportunity cost of that decision.
Question 4.
How do you decide to spend your time? Is time a scarce resource? (Page No. 186)
Answer:
I decide how to spend my time by giving priority to important activities such as studying, completing homework, and helping at home before spending time on entertainment.
Yes, time is a scarce resource because it is limited and cannot be increased or recovered once it is lost.
Question 5.
Should the government allocate more funds to healthcare and education or defence and space exploration? Why or why not? (Page No. 189)
Answer:
The government should maintain a balance in spending. However, greater priority should be given to healthcare and education because they improve people’s quality of life, develop human resources, and support long-term economic growth. At the same time, adequate funds should also be allocated to defence and space exploration to ensure national security and promote scientific and technological progress.
Question 6.
In your opinion, should the government completely stay out of enterprise decisions? (Page No. 191)
Answer:
No. The government should regulate businesses to protect the public interest, but enterprises should have the freedom to make their own business decisions. A balance between regulation and freedom is the best approach.
Question 7.
Can you think of an example where government action helped or harmed an industry or sector? (Page No. 191)
Answer:
Yes. India’s economic reforms in 1991 helped many industries by reducing government controls and encouraging private investment, competition, and innovation. On the other hand, in planned economies, strict government regulations and licensing reduced competition and discouraged innovation, affecting industries negatively.
Building Blocks in Economics The Problem of Choice Class 9 Questions and Answers
Questions and Activities (Page No. 193-194)
Question 1.
Why do you think people’s wants keep changing over time? How does this affect production in an economy? Why cannot all our wants be satisfied?
Answer:
People’s wants keep changing over time because of changes in lifestyle, technology, income, and preferences. This affects production in an economy as producers continuously adjust the type and quantity of goods and services to meet changing consumer demand. All our wants cannot be satisfied because resources such as land, labour and capital are limited, whereas human wants are unlimited. Therefore, choices have to be made regarding the use of available resources.
Question 2.
‘Human wants are unlimited and keep changing’. How do you think this constant desire for more creates pressure on the environment? Can the fulfilment of wants and the extraction of resources be balanced?
Answer:
The constant desire for more creates pressure on the environment because it increases the demand for natural resources, leading to overexploitation, pollution, and environmental degradation. However, the fulfilment of wants and resource extraction can be balanced through sustainable use of resources, conservation, recycling, use of renewable resources and responsible consumption.
Question 3.
Can you think of a resource in your region that is scarce but used wastefully? How could it be managed better?
Answer:
A resource that is scarce but often used wastefully in many regions is water. It is wasted through leaking pipelines, excessive use, and poor water management. This resource can be managed better through rainwater harvesting, repairing leaks, adopting water-saving methods, and creating public awareness about water conservation. These measures help ensure the efficient use of available water resources.
Question 4.
Which economic system—market, planned, or mixed—do you think gives people the most freedom? Which economic system is best suited for promoting innovation? Why?
Answer:
A market economy gives people the most economic freedom because individuals and private enterprises are free to make their own economic decisions without much government intervention. A market economy best promotes innovation because competition encourages enterprises to improve quality, reduce costs, and introduce new products and technologies to attract consumers.
Question 5.
Critically examine why pure economic systems rarely exist in reality. Assess the limitations of such systems and justify why a mixed economy is often considered a more practical and effective approach in real-world contexts.
Answer:
Pure economic systems rarely exist in reality because no single system can meet all the economic needs of a country. The limitations of pure market and planned economies are that a market economy may lead to inequality and inadequate public welfare, whereas a planned economy may restrict private enterprise, competition, and innovation. A mixed economy is considered a more practical and effective approach because it combines the advantages of both systems. It encourages private enterprise and competition while allowing the government to regulate the economy, provide public goods, and promote social welfare.
Question 6.
A student has ₹ 100 and must choose between buying a notebook or saving the money for buying a tennis racket later. Which economic concept best explains this situation?
(a) Demand
(b) Opportunity cost
(c) Production
(d) Inflation
Answer:
(b) Opportunity cost
Question 7.
How does understanding opportunity cost improve the quality of economic decision-making?
Answer:
Understanding opportunity cost improves the quality of economic decision-making by helping individuals and organisations compare alternatives, evaluate the benefits sacrificed and make better use of limited resources. This leads to more rational and efficient economic decisions.
Question 8.
Can effective economic decisions be made without reliable data? Support your answer with an example.
Answer:
No, effective economic decisions cannot be made without reliable data. Economic data helps governments and businesses understand current conditions and make informed decisions. For example, employment and income data help the government design welfare programmes, allocate resources efficiently, and address the needs of different sections of society.
Question 9.
Analyse how a country’s present economic choices can shape its long-term future. Why is it important to consider future consequences while making economic decisions today?
Answer:
A country’s present economic choices shape its long-term future by influencing economic growth, employment, living standards, and environmental sustainability. Investing in education, healthcare, infrastructure, and technology promotes long-term development, while poor decisions may result in resource depletion and slower economic growth. Therefore, future consequences must always be considered while making economic choices.
Question 10.
Identify a news article from any newspaper of your choice about a product or commodity (such as vegetables, fruits, fuel, or electronics) where producers or companies are deciding how much to produce or supply. Write 2-3 sentences explaining the example you found and why the production decision was made.
Answer:
I read a newspaper article stating that automobile companies increased the production of electric vehicles due to rising consumer demand and government incentives for clean energy. The decision was taken to meet market demand, remain competitive, and promote sustainable transportation.