Comprehension

Read the following passage and answer the questions given below Passage:
Economic motivation is universally and easily available nowadays. It can be given in all sectors. In production sectors, more than one such stimulator is used to increase production. Workers and capitalists should work more enthusiastically to increase the production. For that incentive is very useful for such purpose. Desire of power, fame, honest intention of serving, patriotism, such encouragements also motivate human beings to work. These all sources of motivation are mixed more or less in ethical standards of work. Economic motivation is very important motivation. There can be various types of economic motivations.
Bonus is given to the workers for the task which is done before deadlines. Sample tasks are considered in the context of the task. Extra allowances or remuneration is given if the production is more than expected and quality is also maintained. This is done so that dissatisfaction does not arise among workers. Such efforts are constantly needed to increase production. The workers can work enthusiastically if the special allowances or incentives are offered. Promotion in job is offered as an encouragement to do good work is also a kind of economic incentive which is commonly used.

Question: 1

What is meant by economic motivation?

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Economic motivation is centered on financial rewards or incentives, driving individuals to improve performance and achieve higher productivity.
Updated On: Mar 3, 2025
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Solution and Explanation

Economic motivation pertains to the incentives or rewards offered to workers or entrepreneurs to boost their productivity and performance. These incentives typically include monetary rewards, promotions, and other benefits aimed at enhancing work efficiency and output.
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Question: 2

What is the purpose of increasing the production for capitalists?

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For capitalists, increasing production is a key strategy to improve profit margins and enhance their business competitiveness.
Updated On: Mar 3, 2025
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Solution and Explanation

The purpose of increasing production for capitalists is to maximize profit. Higher production leads to greater sales, which in turn increases revenue. By improving productivity, capitalists can also reduce costs, increase market share, and grow their businesses in a competitive environment.
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Question: 3

Why is special remuneration (bonus) given?

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Bonuses are designed to increase worker motivation and align their goals with organizational objectives, enhancing productivity and job satisfaction.
Updated On: Mar 3, 2025
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Solution and Explanation

Special remuneration, such as bonuses, is given to workers as an incentive for meeting or exceeding production targets. It encourages workers to work harder and ensures job satisfaction. Additionally, bonuses help maintain motivation, foster loyalty, and reduce dissatisfaction among employees.
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Question: 4

Compare the skilled and unskilled workers in secondary economic activity.

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Skilled workers use specialized knowledge to handle complex tasks, while unskilled workers focus on simpler, labor-intensive jobs with lower pay.
Updated On: Mar 3, 2025
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Solution and Explanation

Secondary economic activities involve skilled workers who perform tasks that require specialized knowledge, training, and expertise, such as in manufacturing, engineering, and technology-related jobs. These workers usually receive higher wages due to their advanced skills and the complexity of their tasks. In contrast, unskilled workers engage in basic, manual labor that doesn't require specific training or expertise, such as assembly line duties or entry-level positions. These workers typically earn lower wages than skilled workers.
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