Economics
Economics
SOCIAL SCIENCE
Development
PRASHANT KIRAD
PRASHANT KIRAD
Development
Development is the process of growing and becoming better.
Different people seek different things each one of them has a different
priorities and they have different goals for development.
Example: A girl expects equal freedom and opportunities like her brother.
So, we can conclude that:
Different people have different developmental goals.
what may be development for one may not be development for the other.
For Example: To get more electricity, an industrialist may want more dams.
But this may submerge the land and disrupt the lives of displaced people,
such as tribes.
Income and other goals :-
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A person has two types of developmental goal:
1) Material Things - money, car, house, etc.
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2) Non-material Things - freedom, friends, equality, respect, etc.
People prefer to earn more income to fulfil their daily requirements of life,
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National development
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JOSH METER?
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such as we cannot buy a pollution-free environment with the help of money.
Public facilities also include the PDS system (Public Distribution System) for
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those unable to purchase food grains at market price. The government
provides them, with those essential items at a cheap rate.
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Kerala is the preferred living destination because of:
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Kerala’s Low Infant Mortality Rate. Adequate provision of basic health facilities.
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Literacy rate
Life expectancy
Body mass index (BMI) Is used to indicate the health of the body if a person
is overweight or underweight, 18-25 is normal range.
Life expectancy: Life Expectancy at birth denotes
Weight (in Kg)
the expected length of life of a person at the time E.M.A
Height ^2(in n)
of birth.
Sustainability of development
Refers to the development of human beings at the same time sustaining the
ability of natural resources.
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Groundwater is an example of a renewable resource.
For the sustainability of development, we have to minimise our needs and also
have to reduce our dependency on nature.
Top 7 Questions
Q1. What may be development for one may not be development for the other.
Explain with suitable examples.
Ans: Different people have different notions of development because the life
situations of people are different. For example, the construction of a dam leads
to the generation of hydroelectricity, this development. However disastrous for
many people who have been displaced from their villages. Hence it may not
develop for them.
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Q2. What is body mass index?
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Ans: Body mass index (BMI) is an international standard used to determine
whether an adult is undernourished or not.
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If we divide a person's weight by the square of his/her height. We get a ratio
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our lives.
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Ans: While income is an important factor for a good standard of living, several
other aspects are equally crucial for our overall well-being:
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Pointers yaad
rakhna, important h!
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Ans: It is an important criterion because it tells us what a person is likely to
earn and also gives an idea about his living.
The prosperity of a country depends not only on its income but also on the no.
of People who would share it.
However, average income alone does not provide a complete picture of
development. It's essential to consider income distribution; if a small number
of people hold most of the wealth, the average may be misleading. In India,
despite a growing average income, the disparity in wealth distribution means
that many still live in poverty. Thus, while average income is a useful indicator,
it must be evaluated alongside other factors to understand true development.
Q5. Define sustainability of development.
Ans: Sustainability of development means the development should take place in
the present without damaging the environment.
Development in the present should not compromise with the needs of the
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future.
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The resources should be used in such a way that environment balance is also
maintained.
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There is a limited stock of natural resources if they are not used judiciously
then there will be nothing left for future generations.
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For rich farmers, development means higher support prices of crops, cheap
labour etc.
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For a landless farmer, the aim/goal will be more days of work, school for
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Q7. Which countries are known as rich countries based on per capita income?
Ans: Countries with Per Capita Income of more than US $ 12,236 per annum
are known as rich based on per capita income.
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order to make a trade.
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CURRENCY:
Currency is a generally accepted form of money, Money
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including coins and paper notes.
In India, the Reserve Bank of India (RBI) issues Anything which is
currency notes on behalf of the central
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legalized by the
government.
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Other forms in which people hold money are deposits with banks. Money
deposited in Banks is safe with the bank and people also get interest on the
deposited amount.
The deposits in the bank accounts can be withdrawn on demand. Hence,
these deposits are also called demand deposits.
Cheque Facility
A cheque is a paper instructing the bank to pay a specific amount from the
person's account to the person in whose name the cheque has been issued.
Credit (Loans)
Credit (loans) refers to an agreement in which the lender supplies the borrower
with money, goods or services in return for the promise of future payment.
Loans are both good and bad, in one situation it can increase a person’s earnings,
in another situation it may push the person into a debt trap.
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Lender's Rights: If the borrower defaults on the
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loan, the lender is entitled to sell the collateral to
recover the owed amount.
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Credit Sources in India:
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Loans can be categorized into two main types: formal sector loans and informal
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sector loans. Formal sector loans include those from banks and cooperatives,
while informal sector loans come from sources like moneylenders, traders,
employers, and even relatives or friends.
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SHGs (Self Help Groups) consist of 15-20 members who regularly meet and
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pool their savings. The savings amount ranges from ₹25 to ₹100 or more,
depending on each person’s capacity.
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After one to two years of consistent savings, the group becomes eligible to
apply for loans from banks.
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SHGs help their members overcome the challenge of not having collateral for
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loans.
Decisions on loans, such as interest rates, duration, purpose, and loan amounts,
are made collectively by the group members.
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their behalf. This feature makes banks more willing to lend to SHGs.
Members can also borrow small loans from the group itself. Regular meetings
offer a platform to discuss and address various social issues.
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top 7 questions
Q1. Define Cheque.
Ans: A cheque is a paper instrument that instructs a bank to pay a specific
amount from the account of the person issuing the cheque (the drawer) to the
person whose name is written on the cheque (the payee). Cheques allow for
payment to be made without the need for cash.
Q2. Compare and contrast the role of formal and informal source of credit.
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E.g.: Banks and cooperatives. Eg: Money lenders, and traders.
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Q3. Write any three reasons for the banks and cooperative societies to
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increase their lending facilities in rural areas.
Ans: Three reasons for banks and cooperative societies to increase lending
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increasing productivity.
Promote self-employment: Encourages small businesses and self-reliance
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When the group is regular in saving for a year or two then the group is
eligible for getting a loan from the bank.
Banks provide loans in the name of the group and then the SHG gives loans
to its members at a very low rate of interest.
Loan matters are taken very seriously if any one member is not able to
repay the loan then it is followed by other members and because of this
feature, they get a loan from the bank even though they have no collateral.
PRASHANT KIRAD
The loan is provided to help them create self-employment opportunities.
SHG helps women by making them financially self-reliant and provides a
platform to discuss and act on a variety of social issues.
Q5. How are deposits with banks beneficial for the individual as well
as for the nation? Explain with examples. {Delhi 2015}
Ans: Those having extra cash open a bank account in their name and deposit
the surplus money there. Their money is safe with the banks and they get
some interest rate on the amount they have deposited. Out of the total
money deposited with the banks 15% of it is kept as minimum cash balance to
pay to the depositors who might come to withdraw money from the bank on
any given day.
The rest of the amount is used to extend the loan to the borrowers. This
helps people to run and expand their businesses which will increase the
individual income and finally the country’s income.
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Q6. Explain any three functions of the Reserve Bank of India.
Ans: Functions of Reserve Bank of India.
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Supervises the functioning of loans in the formal sector.
It issues guidelines for fixing rates of interest on deposits and lending by
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banks.
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Ans:
It is authorised by the government of the Country.
It is issued by Apex Bank on behalf of the Central Government, in India
Reserve Bank issues currency notes.
No other individuals or community is allowed to issue currency.
The law of the country legalized its use as a medium of payment.
No one can refuse the currency.
Terms ko samjhna
Important h!!!!
Exam me aayega
Classification of Economic Activities:
On the basis of On the basis of On the basis of
Nature employment ownership
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When we produce something by exploiting natural resources it is an
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activity of the primary sector.
Provides the base for all other products.
Related to agriculture, it is also called Agricultural and related sector.
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e.g.: Dairy, Farming, Mining etc.
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They don't produce any goods but these activities provide a service.
Includes services that help in the development of primary and
secondary sectors.
Eg. transport, Cobbler, Doctor, teachers.etc
Tertiary sector has emerged as the largest producing sector in India because -
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The government has developed hospitals, schools, courts, banks, police,
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army, etc., which are basic needs of a country and are part of the tertiary
sector.
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Development in the primary and secondary sectors has led to the
development of the tertiary sector as they are interdependent.
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A rise in the income level of people has increased the demand for eating
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out, shopping, movies, tourism, etc., which are part of the tertiary sector.
New services based on information and communication technology (e.g., the
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Disguised Unemployment
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Organized Sector Unorganized Sector
Registered by the government and follow all Not registered with the government and often
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rules. violate rules.
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Workers have job security and can't be fired Workers don't have job security and can be
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Workers get a pension when they retire. Workers do not get a pension when they retire.
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Good working conditions and a safe Often dangerous work environments without safe
environment. equipment.
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Examples: Government jobs, schools, banks, Various informal jobs are not regulated by the
etc. government.
Private sector
The Ownership of assets and delivery of services is in the hands of private
individuals or companies.
Their goal is to make a profit and earn money.
For example - Reliance, Google, Apple, Tata etc.
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Top 7 Questions RA
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Short answer type questions
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Q2.How did MGNREGA 2005 bring upliftment of the rural people? Explain.
(CBSE- 2014)
Ans: Mahatma Gandhi National Rural Employment Guarantee Act 2005 bring
upliftment of the rural people by the following:
1. This act was passed in the year 2005.
2. According to this act, 100 days guarantee employment is provided to all
those who can work and need work in rural areas.
3. Unemployment allowance is provided to the workers if the government is
not able to provide them work within 15 days.
4. This act helps in providing income and livelihood to the people in the rural
areas.
PRASHANT KIRAD
Q3. Highlight the three factors responsible for the importance of the tertiary
sector in India. (2019 )
Ans: Due to the following reasons, the tertiary sector is rising in importance in
India:
1. Rise in the basic services provided by the government
2. The development in the primary and secondary sectors has led to the
development of the tertiary sector.
3. Due to the rise in income people have started spending on various kinds of
services.
Q4. Define final goods and intermediate goods. (2013)
Ans: Final goods are goods that are ultimately consumed by the consumer
rather than used in the production of other goods.
Intermediate goods are used as input in the production of final goods and
services.
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For example: A car sold to a consumer is a final good, and components such as
tyres of the car sold to a car manufacturer are intermediate goods.
Q6. Write the reasons, for increasing the importance of the tertiary
sector. (2016)
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4. Provide vocational training for in-demand skills.
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5. Collaborate with the private sector for job creation.
6. Support entrepreneurship through mentorship programs.
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7. Invest in infrastructure for rural development.
8. Encourage tourism to create local job opportunities.
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~ Prashant bhaiya
CLASS 10 NOTES
SOCIAL SCIENCE
Globalisation and the
Indian economy
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Establish interconnection foreign trade, contributing to economic
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between countries. growth and development.
It improves Access to Goods MNCs play a significant role in shaping the
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and Services eventually global economy.
benefiting customers.
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Technology
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Trade Barriers
The government puts restrictions to control foreign trade, these restrictions
are called trade barriers. Eg:- Tax on imports etc.
All developed countries, during the early stage of development, have given
financial support to local businesses to make their products more competitive
against imports.
Also, Limits are set on the quantity of goods that can be imported, restricting
the amount of foreign products in the market.
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Q1. Why do MNCs set up their offices and factories in those regions where
they get cheap labour and other resources? (CBSE 2016)
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Ans: MNCs set up their Offices and Factories in regions where they can get
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cheap labour and other resources because this helps them reduce the cost of
production. Lower production costs allow them to increase their profit margins.
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Additionally, these regions often offer access to new markets and favourable
government policies, further benefiting the MNCs.
Q2. Why did the Indian government remove barrier to a large extent on
foreign trade? (CBSE 2016)
Ans: The Indian government removed barriers to a large extent on foreign
trade:
To encourage Indian companies to compete globally.
To attract foreign investments.
To integrate India into the global economy.
Q3. Globalisation and greater competition among producers have been
advantageous to customers? ( CBSE 2016)
Ans: It is true to state that Globalisation and greater competition among
producers have been advantageous to customers in the following ways:
(a) They get different varieties and brands of products.
(b) They get better goods and services at cheap rates.
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Q4. What measures can be taken by the Indian Government to make
Globalisation fairer? Explain. (CBSE2017)
Ans: (a) Labour laws should be implemented properly and the workers get equal
rights.
(b) The government should use trade barriers if the government should
negotiate at the WTO for fairer rules.
Q5. Explain the role of MNCs in globalisation.
Ans: MNCs play a crucial role in globalization by facilitating the movement of
goods, services, investment, and technology across borders. They enhance trade
by producing and selling products in various markets, invest in foreign
economies to create jobs and bring advanced technology to local industries.
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lot of improvement in transportation technology. This has made faster delivery
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of goods across long distances possible at lower costs.
Development in information and communication technology - Technology in
the areas of telecommunication and computers has been advancing rapidly.
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Telecommunications - Facilities like telephone, telegraph, mobile, and fax are
used to connect people in the world. This has been made possible due to
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Computer - They have now entered almost every field of activities. In the
amazing world of the internet, we can obtain and share information on almost
anything.
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