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Can you think of a resource in your region that is scarce but used wastefully? How could it be managed better?
Groundwater is an increasingly scarce natural resource that suffers from widespread wasteful depletion through outdated flood irrigation and urban overconsumption. To improve management, farmers should implement modern water-saving techniques like drip irrigation, while civic authorities must enforcRead more
Groundwater is an increasingly scarce natural resource that suffers from widespread wasteful depletion through outdated flood irrigation and urban overconsumption. To improve management, farmers should implement modern water-saving techniques like drip irrigation, while civic authorities must enforce mandatory rainwater harvesting structures, fix municipal piping leakages, recycle domestic wastewater and conduct community awareness campaigns to prevent long-term ecological and economic water crises.
For more NCERT Solutions of Class 9 Social Science Chapter 8 Building Blocks in Economics: The Problem of Choice Question Answer (2026-27)
https://www.tiwariacademy.com/ncert-solutions/class-9/social-science/
See lessWhich economic system market, planned or mixed do you think gives people the most freedom? Which economic system is best suited for promoting innovation? Why?
A market economy provides the greatest economic freedom, enabling individuals to choose their occupations, spend freely and start businesses without heavy state restrictions. It is also ideal for promoting innovation because fierce competition among private firms drives them to create better productRead more
A market economy provides the greatest economic freedom, enabling individuals to choose their occupations, spend freely and start businesses without heavy state restrictions. It is also ideal for promoting innovation because fierce competition among private firms drives them to create better products, reduce operating costs and adopt cutting-edge technology to capture consumer demand and maximize commercial profitability in an open marketplace.
For more NCERT Solutions of Class 9 Social Science Chapter 8 Building Blocks in Economics: The Problem of Choice Question Answer (2026-27)
https://www.tiwariacademy.com/ncert-solutions/class-9/social-science/
See lessCritically 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.
Pure market systems ignore public goods, foster monopolies and worsen wealth disparities, whereas pure command systems suffer from bureaucratic delays, poor product quality and zero innovation incentives. Therefore, pure systems are impractical in modern governance. A mixed economy proves far more eRead more
Pure market systems ignore public goods, foster monopolies and worsen wealth disparities, whereas pure command systems suffer from bureaucratic delays, poor product quality and zero innovation incentives. Therefore, pure systems are impractical in modern governance. A mixed economy proves far more effective because it combines private market efficiency, innovation and consumer choice with vital state regulation, consumer protection and social safety nets.
For more NCERT Solutions of Class 9 Social Science Chapter 8 Building Blocks in Economics: The Problem of Choice Question Answer (2026-27)
https://www.tiwariacademy.com/ncert-solutions/class-9/social-science/
See lessA 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
The correct option is (b) Opportunity cost. The student has a limited sum of ₹100 and faces mutually exclusive choices. Choosing to purchase the notebook immediately means sacrificing the future acquisition of the tennis racket or vice versa. In economics, the value of the next best alternative thatRead more
The correct option is (b) Opportunity cost. The student has a limited sum of ₹100 and faces mutually exclusive choices. Choosing to purchase the notebook immediately means sacrificing the future acquisition of the tennis racket or vice versa. In economics, the value of the next best alternative that is forgone when making a decision represents the opportunity cost.
For more NCERT Solutions of Class 9 Social Science Chapter 8 Building Blocks in Economics: The Problem of Choice Question Answer (2026-27)
https://www.tiwariacademy.com/ncert-solutions/class-9/social-science/
See lessHow does understanding opportunity cost improve the quality of economic decision-making?
Recognizing opportunity cost helps individuals, businesses and governments weigh the actual trade-offs of their choices rather than looking solely at explicit monetary expenses. By assessing what must be surrendered, decision-makers can prioritize higher-value investments, avoid wasteful misallocatiRead more
Recognizing opportunity cost helps individuals, businesses and governments weigh the actual trade-offs of their choices rather than looking solely at explicit monetary expenses. By assessing what must be surrendered, decision-makers can prioritize higher-value investments, avoid wasteful misallocation, optimize scarce productive factors and achieve far more efficient, sustainable and beneficial long-term outcomes across personal budgets and national policy planning.
For more NCERT Solutions of Class 9 Social Science Chapter 8 Building Blocks in Economics: The Problem of Choice Question Answer (2026-27)
https://www.tiwariacademy.com/ncert-solutions/class-9/social-science/
See less