ECONOMICS ASSIGNMENT

INTRODUCTION:
The economic problem – sometimes called basic or central economic
problem – asserts that an economy's finite resources are insufficient to
satisfy all human wants and needs. It assumes that human wants are
unlimited, but the means to satisfy human wants are limited. The
economic problem is the problem of rational management of resources or
the problem of optimum utilization of resources. It arises because
resources are scarce and resources have alternative uses
Three questions arise from this:
• What to produce?
• How to produce? &
• For whom to produce?

 What to produce?
'What and how much will you produce?' This question lies with selecting
the type of supply and the quantity of the supply, focusing on efficiency.
e.g. "What should I produce more; laptops or tablets?"

 How to produce? Capital goods or consumer goods

'How do you produce this?' This question deals with the assets and
procedures used while making the product, also focusing on efficiency.
e.g. "Should I hire more workers, or do I invest in more machinery?"

 For whom to produce?

'To whom and how will you distribute the goods?' and 'For whom will you
produce this for?' arises from this question. This question deals with
distributing goods that have been produced, focusing
on efficiency and equity.
e.g. "Do I give more dividends to stock holders, or do I increase
worker wages?"
 QUESTIONNAIRE

First Name: SHIVA

Last Name: KUMAR

Phone number: +91 9940572900

Gender: Male

Monthly Income: Rs.30,000/- per month

Vehicles owned: ONE

1. How many days on average do you drive in a week?

ALL 7 days OF THE WEEK
2. How many hours on average in a day do you drive?
14-15 hours
3. During which shift do you normally drive?
6 am to 10pm AS I OWN THE VEHICLE IT DEPPENDS ON MY SITIUATION TO TAKE UP THE
DRIVE.
4. How many hours in a working day on average do you spend idle?
(Idle time): 4 hours
5. How much distance (in km) did you cover in the last week?
350 km
6. How much of that distance (in km) did you travel empty?
(Dead km) 100-110 km

7. How much money do you spend on fuel in a week?

1382.5Rs

8. How much money do you spend on other items in a week?

Rs 80

9. How much money do you spend on maintenance/ servicing in a month?

Rs. 2400

10. Are you on any aggregator platform?

Yes /No