I. Answers thefollowing:

1. What are the basic needs of man?

Thebasic needs of the man’s are food, cloth and shelter.

2. What are the requirements for food production?

Fertileland with irrigation facilities fertilizers and pesticides, quality seed, toolsand implements and financial assistance are the requirement for the foodproduction.

3. What are the three divisions of economics?

Production,consumption and distribution are the tree basic division of economics.

4. Why is it necessary to study economics?

Thosewho study economics become Economics scholar To prepare central and state government budget it is necessary to haveknowledge of economics.

II.Fill in the blanks:

1. To fulfill hisneeds man started to ———————–

Manufacture garments, footwear etc.

2. When there is asurplus of commodities there is a———– in price


3. ————ofour country received the Nobel Prize for Economics.

Amarthya sen

4. When there isdeficit of commodities in the market there is ————-in price


III.Match the following:

1. Economy of ourcountry – National income.

2. People who buyand sell goods – Traders.

3. To attain selfsufficiency – Knowledge of economics.

4. Food, cloth andshelter – Basic needs.

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