A labourer has no resource except her own labour services. Which of the following is the way she can fulfil her needs?
Answer & explanation
Correct answer: option 1
The correct answer is Option (1) → By using the money she earns by working for someone else
The labourer’s only resource is her own labour services. She sells them by working for someone else and uses the money she earns to get the goods and services she needs.
Weaving needs yarn, teaching needs the skills of a teacher, and growing corn needs land. She has none of these resources.
NCERT (2026-27): “1.1 A Simple Economy … Some others in society may not have any resource excepting their own labour services. Each of these decision making units can produce some goods or services by using the resources that it has and use part of the produce to obtain the many other goods and services which it needs. … The labourer also can try to fulfill her needs by using whatever money she can earn by working for someone else. Each individual can thus use her resources to fulfill her needs.” |