The well-being and wealth of the economy

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Target Exam

CUET

Subject

Economics

Chapter

Micro Economics: Introduction

Question:

The well-being and wealth of the economy may not resonate only with possession of resources. It should ______.

Options:

Consider for how long the resources are held.

Consider how these resources are used in generating a continuous flow of income and wealth.

Consider whether the possession of resources is increasing with the passage of time or not.

Consider whether the resources fulfill the need for next 10 years or not.

Correct Answer:

Consider how these resources are used in generating a continuous flow of income and wealth.

Explanation:

The correct answer is Option (2) → Consider how these resources are used in generating a continuous flow of income and wealth.

The well-being and wealth of an economy depend not merely on what resources it possesses, but how efficiently those resources are utilized to produce goods and services over time.
Idle or misused resources do not contribute to economic welfare.
Sustainable use and productive deployment of resources ensure a continuous flow of income and wealth, which truly reflects economic prosperity.