Q1
What factors of production exist in a village economy?
ALand, labour, capital and entrepreneurship
BOnly land
COnly labour
DOnly capital
CBSEClass 9 (CBSE)Social ScienceCh 16 · Topic 1
Factors of Production in a Village Economy
A village economy relies on factors of production - land, labour, capital, and entrepreneurship - to produce goods and services, primarily c
Core concept
Land in a village economy includes farmland, water sources, and natural resources used for farming and other economic activities central to rural life.
How it works
Labour includes farmers, farm workers, and artisans who contribute physical and skilled work to produce crops, goods, and services within the village.
Why it matters
Capital in villages includes tools, machinery like tractors, irrigation systems, and money used to invest in farming or small businesses.
Key detail
Entrepreneurship in villages might involve a farmer trying new crops or techniques, or someone starting a small shop or dairy business, organising resources to create economic opportunities.
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CBSE class 9 factors of production in a village economy
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• Village economies use land, labour, capital and entrepreneurship.
• Land includes farmland and water sources.
• Labour includes farmers and farm workers.
• Artisans also contribute skilled labour.
• Capital includes tools, tractors and irrigation systems.
• Money invested in farming is also capital.
• Entrepreneurship involves trying new farming methods.
• Starting a small business is also entrepreneurship.