Download App

Basic Concepts in Economics — Economics STD 11 Commerce / Arts — Question

Maharashtra BoardEnglish MediumSTD 11 Commerce / ArtsEconomicsBasic Concepts in Economics2 Marks
Question
A carpenter makes furniture and earns wages.
✓

Answer

Labour.
Labour means any kind of physical or mental effort/exertion undergone during the process of production against a certain reward. In the above case, labour makes furniture and earns wages as a reward.

Need a full question paper?

Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.

Start Generating Free

Explore more

More "Identify and explain the concept ." from Basic Concepts in Economics→Basic Concepts in Economics — all question types→Economics STD 11 Commerce / Arts question papers→Maharashtra Board STD 11 Commerce / Arts question papers→Maharashtra Board question paper generator→

Similar questions

Urmi’s family live in a situation whereby they are not able to fulfill even the basic needs of life such as food, clothing, and shelter.
→
Tanvi goes to the office in an air-conditioned car.
→
Hussain Shaikh employed seven workers less than the usual number of workers on his farm, in spite of this, output remained the same.
→
In Mumbai city, public transport service is largely affected due to the growing population.
→
Ramabai gets a subsidy on domestic LPG directly transferred to her bank a/c.
→
Ramraoji takes a loan from the bank for a period of ten years subject to terms and conditions for the purpose of irrigated farming.
→
Kusumatai knowingly set up her business enterprise in the rural area so that people living there could be gainfully employed.
→
Ram’s father utilized his provident fund amount to set up the grocery store.
→
In certain agricultural areas of Maharashtra, only Kharif crops are grown, therefore, employment is available till the month of October.
→
People drink water when they are thirsty because water has the capacity to satisfy thirst.
→