Step 1: Identify the concept.
This is an example of **production for personal consumption**. Rajaram produced wheat, but kept some of it aside for personal use, which is different from selling or distributing it for economic exchange.
Step 2: Explanation.
The total production of wheat = 25 quintals.
The quantity kept for personal use = 2 quintals.
The remaining wheat for economic exchange = 25 - 2 = 23 quintals.
Step 3: Conclude.
Thus, Rajaram produced 23 quintals of wheat for market exchange, and 2 quintals for his own use.
Final Answer: \[ \boxed{23 \; quintals \; for \; market \; exchange, \; 2 \; quintals \; for \; personal \; use} \]
Observe the following diagram of the non-linear demand curve and answer the questions given below.
(1) If \( EB = EA \) (\( Ed = 1 \)) = ....… (1)
(2) If \( EB > EA \) (\( Ed > 1 \)) = ....... (1)
(3) If \( EB < EA \) (\( Ed < 1 \)) = ....... (1)
(4) The 'x' axis represents ........ of commodity and 'y' axis represents ........ of commodity. (1)
Regulated Market
Regulated market is a wholesale market where buying and selling are regulated and controlled by the state government through the market committee.
Regulated market aims at the elimination of unhealthy and unscrupulous practices regarding charges and providing facilities to producers and sellers in the market. The poor standards of primary and secondary markets in agricultural market are cash transactions, short weights, excessive market charges, unauthorized deduction, and the absence of machinery to settle disputes between sellers and buyers. These defects and malpractices can be recovered by the establishment of Regulated market. According to the Bombay Agricultural Product Market Act-1939, this market is controlled. In this market mainly the trade of cereals, fruits, tobacco, cotton, groundnut, coconut, betel nut, potatoes and turmeric, etc. are controlled.
Questions:
(1) Which act regulates the market? (1)
(2) What are the poor standards in primary and secondary markets? (1)
(3) Give your opinion with reference to the above passage. (1)