Rajasthan Board RBSE Class 11 Economics Chapter 14 Economic Ideas of J.K. Mehta
RBSE Class 11 Economics Chapter 14 Text book Questions
RBSE Class 11 Economics Chapter 14 Objective Type Questions
Question 1.
According to Prof. Mehta, man gets true happiness from:
(a) Increasing wants
(b) Keeping wants constant
(c) Minimising wants
(d) None of these
Answer:
(c) Minimising wants
Question 2.
According to Prof. Mehta when does a person’s mind stay in complete balance?
(a) In desireless state
(b) In state of less wants
(c) In state of more wants
(d) In fulfillment of some desires
Answer:
(a) In desireless state
Question 3.
According to Prof. Mehta, which is an economic problem?
(a) Problem of selection
(b) Problem of minimizing wants
(c) Problem of finding means to fulfill wants
(d) Problem of increasing wealth
Answer:
(b) Problem of minimizing wants
Question 4.
According to Prof. Mehta, the study of behaviour of one unit is done in :
(a) Micro-economics
(b) Macro-economics
(c) Welfare economics
(d) Developmental economics
Answer:
(a) Micro-economics
Question 5.
According to Prof. Mehta, that study of economics which is related to period of time instead of a point of time, is called :
(a) Micro-economics
(b) Welfare economics
(c) Macro-economics
(d) none of these
Answer:
(c) Macro-economics
Question 6.
According to Prof. Mehta, which of these properties are not found in utility?
(a) Utility in an abstract material
(b) Utility is never a constant
(c) Utility is measurable by currency
(d) Utility is immeasurable
Answer:
(d) Utility is immeasurable
RBSE Class 11 Economics Chapter 14 Very Short Answer Type Questions
Question 1.
What is the root cause of all sorrows, according to Prof. Mehta?
Answer:
Wants of human being.
Question 2.
What is the meaning of conscious wants according to Prof. Mehta?
Answer:
The presence of wants in order to attain happiness, in the condition that these are not satisfied, there is a feeling of sorrow, which is a symbol of the consciousness of the mind.
Question 3.
In what way should taxes be determined, according to Prof. Mehta?
Answer:
It should be according to the quantity of sacrifice.
Question 4.
What is the main objective of economics according to Prof. Mehta?
Answer:
Fulfilling the unlimited requirements from limited resources.
Question 5.
According to Prof. Mehta which wants when not satisfied, cause no feeling of sorrow?
Answer:
A person does not feel sorrow when he does not obtain an object, which he has never heard of nor has ever seen.
Question 6.
Explain the meaning of welfare, according to Prof. Mehta?
Answer:
The welfare of man is the amount of satisfaction at a given time.
Question 7.
What is meant by rent, according to Prof. Mehta?
Answer:
Rent is the surcharge on investment.
Question 8.
How is interest determined, according to Prof. Mehta?
Answer:
By marginal productivity.
RBSE Class 11 Economics Chapter 14 Short Answer Type Questions
Question 1.
Mention the main points of Prof. Mehta’s viewpoint of wantlessness.
Answer:
According to Professor Mehta, the requirements are infinite, unlimited and after the fulfillment of one of these requirements, another second requirement is born. Changes can be made on the ideal of wantlessness in the production and consumption of goods and services. This situation means that all the work that is necessary has to be done with a selfless purpose.
Question 2.
Explain Prof. Mehta’s state of wantlessness in the perspective of Gandhiji’s principle of trusteeship.
Answer:
Professor J.K Mehta has presented wantlessness in the perspective of Gandhiji’s trusteeship, and considered it to be the end of all problems. In the words of Professor Mehta, if we follow all the right tasks of all happiness, then all tasks will not be finished. There will be no need to levy tax on the rich class for the welfare of the poor. Gandhiji wanted the rich to do so much that along with themselves the poor could also consume.
Question 3.
Clarify the difference between wants of the poor and the rich, according to Prof. Mehta.
Answer:
Wants of Rich Person | Wants of Poor Person |
The needs of the rich person are more. | The needs of a poor person are much less compared to the rich. |
The wealthy person’s income is very high. | While the poor person’s income is very low. |
All the needs of the rich person are fulfilled. | Some of the needs of the poor person are fulfilled. |
Tax liability is higher on the wealthy person. | There is no tax burden on the poor person. |
Question 4.
According to Prof. Mehta, clarify the difference between pure and applied economics.
Answer:
- Under pure science, we study general theory, while under practical science, appropriate principles in the provided framework are studied.
- Under pure economics, the field of pure welfare is more extensive, whereas in practical economics we are in the field of worldly/material aspects.
- The principles are included under pure economics, while rules are included under practical economics.
RBSE Class 11 Economics Chapter 14 Long Answer Type Questions
Question 1.
Give a critical explanation of Prof. Mehta’s wantlessness viewpoint.
Answer:
Professor Mehta has considered the need of human beings as infinite in his principle of wantlessness, in which the second requirement is immediately born when one requirement is met. This is the situation of unconscious needs. A person who has never heard of something nor has ever seen it, will certainly not need the consciousness to see it nor he will feel pain in his heart if he does not obtain it.
According to Mehta, the given wantlessness principle does not apply to this unconscious need. Man’s needs grow with his income. The needs of a wealthy person will be higher than the requirement of a poor person. That means, the poor person is looking for adequate means to fulfill one of his needs, and after its fulfillment, he gets the feeling of pleasure in the same. Mehta’s wantlessness principle does not apply in every area altogether. It applies only to the person’s essential needs.
Question 2.
Give Prof. Mehta’s definition of economics and explain the viewpoint of wantlessness propounded by him.
Answer:
Professor Mehta has defined the meaning of economics while following Mahatma Gandhi’s principle of simple living, high thinking. Mehta has said that minimizing the needs is a financial problem.
According to Mehta, the definition of economics is as follows :
“Economics is a science which studies that human behaviour which attempts to attain the objective of the state of wantlessness.”
The necessity is infinite, unlimited, and as soon as a requirement is met, the second requirement is born immediately. Therefore, Mehta has considered the state of wantlessness as the ultimate goal while following the ‘tenet of Santosh Param Sukham’, the pillar of Indian culture. Mehta considered the state of satisfaction only as a situation of wantlessness in economics. The state of the wantlessness of Professor Mehta is not the state of non-action. In his words, the wantlessness is never the actlessness. When you follow a policy of wantlessness, economic actions do not stop. Changes can be made on the ideal of wantlessness in the production and consumption of goods and services.
This situation does not mean that we stop drinking or eating food, and neither does it mean to stop earning income. All these tasks, which are necessary, have to be done with a selfless purpose. Professor Mehta has also presented the necessity of persistence in the perspective of the principles of Gandhiji is Trusteeship. Only then is the end of these problems possible.
Question 3.
Explain conscious and sub-conscious wants according to Prof.Mehta.
Answer:
According to Professor Mehta, when a requirement is met, there is definite satisfaction. This happiness or satisfaction is achieved in the process of removing suffering. This makes it possible because in the situation of the need being present or inability to satisfy the need, there is a feeling of sorrow, which is a symbol of the consciousness of the brain. According to Mehta, this consciousness is necessary.
According to Prof. Mehta, there are some requirements such that whose absence we feel, but sadness is not prevented. The prevention of suffering does not happen because it does riot exist in the consciousness of the mind. It comes in existence on completion of consciousness. According to Mehta, the fulfillment of the requirements is soothing. A person who has never heard of something nor or has ever seen it, will certainly not need the consciousness to see it, nor will there be a feeling of sadness in the absence of it. But even then if he sees that consciousness, then surely it will be blissful. Thus fulfilling the conscious requirement will provide positive contributions. But once the unconscious need is satisfied, again consciousness comes in front of us as a necessity.
Question 4.
Clarify Prof. Mehta’s ideas about pure and applied economics.
Answer:
Professor Mehta has presented economics as a purely practical science. In Mehta’s words, it would be appropriate to say that under pure science we study the general principles and under practical science, we study the appropriate principles in the framework provided. Since the subject matter in economics is the study of human behaviour, pure economics studies the principles governed by this behaviour. This topic of economics manages the study of human behaviour under the definite perspective of ‘sources are limited’. In practical economics, we see how these principles are applied in a particular area of human activities.
According to Mehta, under pure economics, we are more in the field of welfare, whereas under practical economics we are in the material field of world. Thus, it can be said that the brain plays a more important role under special economics. The study of practical economics is the ultimate goal and should be achieved.
It uses common principles and sees how to work under certain practical fields. Prof. Mehta has called the ultimate goal to be the achievement of wantlessness. Explaining the difference between pure and practical economics of Professor Mehta, it is said that the principles can be incorporated under pure economics, while rules are included under practical economics.
Question 5.
Describe Prof. Mehta’s thoughts on micro and macro economics.
Answer:
According to Professor Mehta, many units are included in a society. The science of economics is related to the behaviour of these units. In the opinion of Mehta, in technical language, economics contains the rules of consumption and production. If an economist has full knowledge of the behaviour of the person and has complete knowledge about the environment, then he can surely tell how much he will do, how much quantity he will produce, how much quantity he will sell, how much quantity he will buy, how much quantity he will save, how much quantity he will consume, etc.
The study of the behaviour of a unit presented under the above description is micro economics. It is called micro-economics because its single unit is very small as compared to keeping together all the work together. It gives us information about the situation in which the unit is in a state of equilibrium. The study of all units simultaneously is not individual economics but macro-economics. According to Professor Mehta, the person lives in society. So, economics cannot ignore the study of macro economics, it should study not just one but all of the people.
Question 6.
Write Prof. Mehta’s ideas on profit, interest and investment cost.
Answer:
According to Professor Mehta, the group of individuals is a society. Therefore, social welfare is certainly related to individual welfare. As social welfare is a mental and psychological concept, its objective measurement cannot be made, but we can compare social welfare in one situation to a different situation.
- Profit :
According to professor Mehta, profit is the reward received in return for the risk of the entrepreneur. It is only achieved in dynamic position. The profit is received in return of carrying the risk or in the form of unusual or unexpected receivables. The gain achieved in the dynamic situation is always uncertain and unpredictable. - Interest :
Professor Mehta has defined interest as the earning of capital, which is determined by marginal productivity. The income of capital is determined by the productivity of the last unit of capital in use. Capital is supplied by available supply. The available capital is obtained from the cost of construction, or from direct cost. - Rent :
Professor Mehta has not considered the rent as income. According to him, it is a surcharge over the investment. In the vision of Mehta, when a production study is brought in only one specific use, then all income nature is a surcharge to it. According to him, it is impossible that an instrument is used only in one particular form in its absolute form. The more the quality of specificity of a resource, the more will be the rent received for it.
Question 7.
Clarify Prof. Mehta’s thought about Public Finance.
Answer:
Professor Mehta has presented the ideas of each part with the definition of public finance. The views of Professor Mehta on public finance can be presented under the following headings :
i. Definition of Public Finance :
Mehta has clarified that the meaning of the word public is the state. It studies the state’s financial resources and their consumption.
ii. Public Income :
According to Professor Mehta, income is the means and public expenditure is the achievable objective. Public income is received for public expenditure. Professor Mehta has divided the public income into four parts :
- Tax
- Fees
- Duty
- Miscellaneous Sources
iii. Public Expenses :
According to Mehta, the public expenditure has the same place in public finance as consumption has in the study of economics. It is a resource dedicated by the state as a service to society. Professor Mehta has split public expenditure into a new form in two ways :
- Fixed Expenses
- Variable Expenses
iv. Public Debt :
According to Mehta, when a person starts borrowing the money, it becomes his habit. He does this without keeping his financial status in mind. This trend is also true in the context of states.
RBSE Class 11 Economics Chapter 14 Other Important Questions
RBSE Class 11 Economics Chapter 14 Objective Type Questions
Question 1.
When was Professor Mehta born?
(a) 1905
(b) 1910
(c) 1901
(d) 1915
Answer:
(c) 1901
Question 2.
Where was Professor Mehta born?
(a) Mumbai
(b) Madras
(c) Uttar Pradesh
(d) Bihar
Answer:
(a) Mumbai
Question 3.
The principle of wantlessness is propounded by :
(a) Smith
(b) Keynes
(c) Mehta
(d) Deendayal Upadhyay
Answer:
(c) Mehta
Question 4.
Mehta has mentioned wantlessness to be the :
(a) Ultimate goal
(b) Primary goal
(c) Intermediate goal
(d) None of these
Answer:
(a) Ultimate goal
Question 5.
The real happiness of the person is :
(a) In increasing the necessities
(b) In reducing the necessities
(c) In reducing the requirement to zero
(d) None of these
Answer:
(b) In reducing the necessities
Question 6.
The surcharge on investment is called :
(a) Interest
(b) Fine
(c) Expenditure
(d) None of these
Answer:
(b) Fine
Question 7.
In return for the risk to the entrepreneur, the received consideration is called :
(a) Rent
(b) Interest
(c) Profit
(d) None of these
Answer:
(c) Profit
Question 8.
In how many parts has the public income been classified?
(a) Two
(b) Four
(c) Five
(d) One
Answer:
(b) Four
Question 9.
The parts of public income are :
(a) Tax
(b) Fees
(c) Duties
(d) All of these
Answer:
(d) All of these
Question 10.
Who give the ordinal approach of utility?
(a) Hicks and Allen
(b) Marshall
(c) Keynes
(d) J.B.Say
Answer:
(a) Hicks and Allen
RBSE Class 11 Economics Chapter 14 Very Short Answer Type Questions
Question 1.
Who is the writer of public finance?
Answer:
J.K. Mehta
Question 2.
Who is the pioneer of Indian theoretical economics?
Answer:
J.K. Mehta is the pioneer of Indian theoretical economics.
Question 3.
On which traditions are the views of Professor Mehta based?
Answer:
On Indian Traditions.
Question 4.
Mehta’s views differ from which economists?
Answer:
The economists of the western countries.
Question 5.
Where was J.K. Mehta born?
Answer:
In the Rajnand village of Mumbai.
Question 6.
What is the full name of J.K.Mehta?
Answer:
Jamshed Ker Khushro Mehta.
Question 7.
How many ways are there to achieve a state of balance?
Answer:
Two
Question 8.
Which idea of Gandhiji did Professor Mehta follow for giving the definition of economics?
Answer:
“Simple living and high thinking.”
Question 9.
Which problem did Professor Robbins describe as an economic problem?
Answer:
The Problem of selection.
Question 10.
When is satisfaction obtained?
Answer:
Upon the fulfillment of desire.
Question 11.
The feeling of sadness is a symbol of whose consciousness?
Answer:
Brain’s Consciousness
Question 12.
What kind of needs does a rich man have?
Answer:
His needs are more.
Question 13.
According to Mehta, how are the wants of a poor man as compared to a rich man?
Answer:
His wants are less.
Question 14.
On whom the tax burden should be the most?
Answer:
On the rich person
Question 15.
According to Mehta, what is the reason of suffering?
Answer:
Continuous generation of requirements
Question 16.
When will the man not be sad?
Answer:
When the requirements are zero.
Question 17.
What do we study under pure science?
Answer:
We study the general principles under pure science.
Question 18.
What do we study under practical science?
Answer:
We study the examining of principles in practical science.
Question 19.
Whose study do you do in the subject matter of economics?
Answer:
We do the study of human behaviour in the subject matter of economics.
Question 20.
In what field are we under practical economics?
Answer:
In the field of the material world.
Question 21.
According to Professor Mehta, the economics of welfare is in fact welfare of whom?
Answer:
It is the economics welfare of the society.
Question 22.
With what is dynamic economics related?
Answer:
With the study of a period of time.
Question 23.
With what is static economics related?
Answer:
With study of point of time.
Question 24.
What kind of substance is utility?
Answer:
It’s an emotional substance.
Question 25.
Who has given the cardinal approach of utility?
Answer:
Marshall gave the cardinal approach of utility.
Question 26.
Who has given the ordinal approach of utility?
Answer:
Hicks and Allen gave the ordinal approach of utility.
Question 27.
Write the names of any two books of Prof. Mehta.
Answer:
- Public Finance
- Economics of Growth .
Question 28.
What was the basis of the description of the definition of Professor Mehta?
Answer:
Mehta has taken the basis of the interpretation of the definition of economics from the views of Indian philosophers sages, and great men.
Question 29.
In which is man’s true happiness present?
Answer:
he true happiness of man is present in minimizing his needs.
Question 30.
Which powers have an influence on the human beings?
Answer:
The human beings are influenced by external powers.
Question 31.
What is the first path of achieving a state of balance?
Answer:
Under the first path, the environment will be changed according to the desire of the brain.
Question 32.
What is the second path of state of balance?
Answer:
According to the second path, the brain should be moulded likewise, so that it is not disturbed by the environment.
Question 33.
When the desires or needs of man are not fulfilled, what will be the effect?
Answer:
When requirements or desires are not met, a person experiences pain.
Question 34.
What is dynamic economics?
Answer:
When there is no change in the initial data, the final position can be achieved by the process of adjustment, and if we want it, then we can adopt a path through which to achieve complete balance, this is called dynamic economics.
Question 35.
What is the meaning of developmental economics?
Answer:
Under Developmental Economics, the study of progressively achieved state of balance in a given period is done.
Question 36.
What is meant by rent?
Answer:
Rent is the surcharge over the investment. When the source of one production is brought in only one special use, then its entire income is a surcharge by its nature.
Question 37.
According to Professor Mehta what is the meaning of profit?
Answer:
According to Professor Mehta, profit is the consideration given in return for the risk of the entrepreneur.
Question 38.
What are the four parts of public income?
Answer:
- Tax
- Fees
- Duties
- Miscellaneous Sources – Gift, penalties.
Question 39.
What is the meaning of variable expenses?
Answer:
These are the expenses which are influenced and fixed by the effective consumption of services by people, and which determine the consumption of services.
Question 40.
In which terms can satisfaction be measured?
Answer:
Satisfaction can be measured by currency or money.
Question 41.
Is the state of wantlessnes the state of inactivity?
Answer:
The state of wantlessness is not the state of inactivity.
Question 42.
According to Mehta, what are the types of desires?
Answer:
Two Types :
- Conscious
- Unconscious
Question 43.
What is meant by conscious want?
Answer:
The wants that cause sorrow by being present or when these are not satisfied, are called conscious wants.
Question 44.
What do you mean by unconscious need?
Answer:
Such desires, which are present in our feelings, but do not relieve our suffering, are called unconscious desires.
Question 45.
J. K. Mehta gave ideas related to what?
Answer:
J.K. Mehta gave the definition of economics related to representative firm, micro and macroeconomics, revenue, development of economics, etc. That is why he is counted among the major economists.
Question 46.
Define economics as given by Mehta.
Answer:
Mehta has defined Economics as, “a science which studies human behaviour as a means to achieve the objective of wantlessness”.
RBSE Class 11 Economics Chapter 14 Short Answer Type Questions
Question 1.
Name the books written by J.K. Mehta.
Answer:
The following books are written by Mehta :
- Ground Work of Economics
- Public Finance
- Economics of Growth
- Studies in Advanced Economic Theory
- Principles of Exchange
- Foundations of Economics
- Macro Economics
Question 2.
What is the meaning of conscious and unconscious need?
Answer:
The wants which cause sorrow by being present or when these are not satisfied, are called conscious wants. Such wants, which are present in our feelings, but do not relieve our suffering, are called unconscious desires.
Question 3.
Explain the needs of the rich and the poor.
Answer:
An average poor person is not as happy as an average rich person. That is why the poor person deserves mercy. The wishes of a poor person are lesser than that of a wealthy person, and they fulfill their needs through their low income. Some of their needs remain unfulfilled.
Question 4.
According to Professor Mehta, in what is the real pleasure present? Explain.
Answer:
According to Professor Mehta, the real happiness of a person is not in enhancing his wants but actually lies in reducing them. The sources are limited to the individual and it is not possible to meet all his requirements with these limited means, so maximum happiness can only be achieved by reducing desires.
Question 5.
Explain pure and practical economics in brief.
Answer:
Under pure science, we study general principles, while under practical science, we examine these principles in a given framework. Pure economics studies human behaviour under the definite perspective of ‘the limitations of the means’. In practical economics we see how this principle applies to specific areas of human activity.
Question 6.
What does static economics mean?
Answer:
We determine from the state of balance, ‘that what will be the part of each means of production. What will be the cost of all the manufactured goods, and what will be the quantity of goods, and services to be consumed? When we anticipate the achievement of the state of this balance under the economic system, then it is known as static economics.
Question 7.
Explain the scalability of utility.
Answer:
Economics is a science, so it is necessary to explain, the quantitative nature of utility. Professor Mehta has laid emphasis on the quantitative measurements of utility, and presented the following facts regarding the measurement of utility :
- Utility is an abstract substance.
- Utility does not remain stable, it changes from time to time.
- Satisfaction can be measured by currency.
Question 8.
Explain public income.
Answer:
Public income is the means while, public expenditure is the achievable objective. Public income is determined for public expenditure. Public expenditure is definitely beneficial for the society, and on the other hand people have to reduce consumption for public income. Therefore, its pure result is increase in welfare.
RBSE Class 11 Economics Chapter 14 Long Answer Type Questions
Question 1.
Write the limitations of Mehta’s economic perspective.
Answer:
Mehta’s views seem to be favourable with philosophy and ethics, especially from the perspective of Indian culture and civilization. Yet his views have been criticized in the materialistic era, which is the following :
- After accepting Mehta’s view, the existence of economics will end. If all the persons reach the state of wantlessness by minimizing the necessities, then there will be no economic activity in the society.
- Mehta’s ideas are based on imagination. Freedom from desires is not under the control of an ordinary person. In ordinary life, the person never thinks that maximum happiness lies in reducing the necessities.
- Professor Mehta has considered economics as only an ideal science which is not correct because economics is an ideal science as well as real science.
- Critics think that Mehta has made a huge mistake by considering the desires and needs to be the same. Desire and requirements are taken in two different meanings. Medicine is a necessity for a sick person, whether or not the person is willing to take that medicine.
- The definition of economics by Mehta is itself not a definition, but describes religious precepts.
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