Solved Economics (214) Tutor Marked Assignment (TMA) 2019-20
Table of Contents
Tutor Marked Assignment is an integral part of NIOS study and it has 20% weightage in external examination. Mark obtained in TMA is shown separately in Mark sheet. All NIOS students who need to submit their TMA at respective Study centre.
Solved Economics (214) 2019-20 TMA for Class 10 (Secondary)
1.Answer any one of the following question in about 40-60 words.
a) State one Principal difference between micro economics and macro economics.
Answer: Micro economics: The word “micro” means very small. So micro economics implies study of economics at a very small level. In Micro economics we study the economic decisions taken by a single individual person or firm.
Macro economics:The word macro means very large. In comparison to an individual, the society or the country or economy as a whole is very large. So the economic decisions taken at the level of the economy as whole are subject matter of macro economics.
2. Answer any one of the following question in about 40-60 words.
a) What is the role and significance of goods and services in an economy?
Answer: Human wants: Human wants are unlimited and ever increasing. Goods and service help to satisfy human wants.
Production:Availability of consumer goods and services depends on the increased availability of producer goods and services.
Investment: Increase in the production of goods and services will also determine the level of investment. Given the quantity of goods and services, a part of it is consumed, which satisfies the human wants. Whatever is not consumed is used for further production and it results in capital formation in the economy. If the production of goods and services is more, it is likely that the consumption will be more and the investment will also be more.
3.Answer any one of the following questions in about 40-60 words.
b) Ram, an entrepreneur is running a shoe manufacturing company. What functions can be performed by Ram as an entrepreneur?
Answer: The function that will be performed by Ram are:
Resourcing:An an entrepreneur, he will need to ensure that availability of all various resources such as money, Machine, material and men.
Managing the enterprise: . He has to manage men, material,finance and organize production of goods and services.
Growth and Development: As an entrepreneur, he has to explore another higher goal for its proper growth and development.
Turning Ideas into Action: He will collect information regarding the ideas,products, practices to suit the demand in the market.
4.Answer any one of the following question in about 100-150 words.
a)Explain the concept of positive and normative economics with illustrations.
Answer: Positives economics is based on fact and data.Positive economics analyse cause and effect relation. And statement can be verified scientifically.
Normative economics is based on opinion, value, judgment. It talk about about “What ought to be”or “what should be”. The statement made bu normative economics can not be verified scientifically.
Consider the following statements.(i)India’s population have crossed 100 crore mark. India is the second largest populated country in the world.(ii)India should not allow its population to grow so fast. It must control its population.Statement (i) describes a phenomenon which is happening. This is a positive statement.Statement (ii) gives a value judgment on India’s population. This is a normative statement.
5.Answer any one of the following question in about 100-150 words.
b)Distinguish between economic goods and producers goods.
Answer:The classification of Consumer goods and Producer goods is based on the purpose for which a particular good is used.
Consumer goods are those goods, which satisfy the want of consumer directly. For example bread, fruits, milk, clothes etc.
Producer goods are those goods,which satisfy the want of consumers indirectly. As they help in producing other consumer goods. they are known as producer goods. For example machinery, tools, raw materials, seeds, manure and tractor etc are all example of producer goods.
6. Answer any one of the following question.
a) Complete the following table.
|Units + Labour||Average Product||Marginal Product|
|Units + Labour||Average Product||Total Product||Marginal Product|