0% found this document useful (0 votes)
107 views22 pages

Economics

The document covers key concepts of development and credit in social science, highlighting that development goals vary among individuals based on their needs and circumstances. It explains the importance of national development indicators like per capita income, literacy rate, and public facilities, while also discussing the role of money and credit systems, including the differences between formal and informal credit sources. Additionally, it emphasizes the significance of Self Help Groups (SHGs) in empowering the poor and facilitating access to loans.
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
0% found this document useful (0 votes)
107 views22 pages

Economics

The document covers key concepts of development and credit in social science, highlighting that development goals vary among individuals based on their needs and circumstances. It explains the importance of national development indicators like per capita income, literacy rate, and public facilities, while also discussing the role of money and credit systems, including the differences between formal and informal credit sources. Additionally, it emphasizes the significance of Self Help Groups (SHGs) in empowering the poor and facilitating access to loans.
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 22

CLASS 10 NOTES

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 :-

D
RA
A person has two types of developmental goal:
1) Material Things - money, car, house, etc.
KI
2) Non-material Things - freedom, friends, equality, respect, etc.
People prefer to earn more income to fulfil their daily requirements of life,
T

However, this is not the only component.


AN

They want, equal treatment, freedom, education opportunities, security and


respect for their jobs, peace, A pollution-free environment and, so on...
H

National development
AS

National development refers to the ability of a nation to improve the


PR

standard of living of its citizens.


The standard of living of citizens depends on per capita income, gross
domestic product, literacy rate, health system, infant mortality rate etc.
How to compare different countries or state.
The total income of a country is the main criterion for comparing a
developed country with an underdeveloped one. Countries with higher income
are more developed than other countries as more income means more of all
the things that a human being needs.
Per Capita Income: Per capita income of a country is the average income
per person, calculated by dividing the total national income by the
population.
Total income
= Perincome
capita E.M.A
Total Population

JOSH METER?
PRASHANT KIRAD

Infant mortality rate:


Number of children that die before the age of one year in proportion to 1000
live children born in that particular year.
Literacy rate:
Literacy Rate measures the proportion of literate population in the 7-and-above
age group.
Net attendance ratio
Net Attendance Ratio is the total number of children of age group 14 and 15
years attending school as a percentage of total number of children in the same
age group.
Public facilities E.M.A
Facilities provided by the government are considered public facilities such
as Schools, Hospitals, Transport, electricity, etc.
Individuals need public facilities, Not everything can be bought with money

D
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

RA
those unable to purchase food grains at market price. The government
provides them, with those essential items at a cheap rate.
KI
Kerala is the preferred living destination because of:
T

Kerala’s Low Infant Mortality Rate. Adequate provision of basic health facilities.
AN

Kerala’s effective public distribution system. Kerala's proper education facilities.


H

Human development report published by UNDP


Human Development compares countries based on the education levels
AS

of the people, and their health.


PR

Per capita income

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.
PRASHANT KIRAD
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.

D
Q2. What is body mass index?

RA
Ans: Body mass index (BMI) is an international standard used to determine
whether an adult is undernourished or not.
KI
If we divide a person's weight by the square of his/her height. We get a ratio
T

called body mass index. Nourished person's BMI is 18-25.


AN

BMI- Weight/ Height^2 in m.


Q3. Give some examples where factors other than income are important aspects of
H

our lives.
AS

Ans: While income is an important factor for a good standard of living, several
other aspects are equally crucial for our overall well-being:
PR

Education: Access to quality education enables people to acquire knowledge and


skills.
Healthcare: Good health is essential, and without access to proper healthcare,
even those with high incomes may face poor health outcomes.
Safety and Security: A safe environment, free from violence and crime, is
essential. High income holds less value if personal safety is at risk.
Freedom and Equality: The ability to express opinions and live without
discrimination is crucial for life satisfaction.
Environmental Quality: Clean air, water, and a pollution-free environment are
vital for a healthy life.
Q4. Why do you think average income is an important criterion for
development? Explain.

Pointers yaad
rakhna, important h!
PRASHANT KIRAD
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

D
future.

RA
The resources should be used in such a way that environment balance is also
maintained.
KI
There is a limited stock of natural resources if they are not used judiciously
then there will be nothing left for future generations.
T

Q6. Define human development goals.


AN

Ans: There are many types of human development goals like:


H

For rich farmers, development means higher support prices of crops, cheap
labour etc.
AS

For a landless farmer, the aim/goal will be more days of work, school for
PR

their children and no social discrimination.


For tribal community members, their goal would be no discrimination,
education, school etc.
For an urban girl, from a rich family, free to choose her profession or be
independent.

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.

“Class 10th Phodenge”


- Prashant Bhaiya
CLASS 10 NOTES
SOCIAL SCIENCE

Money and Credit


PRASHANT KIRAD
PRASHANT KIRAD

Money and Credit


Barter System
The barter system is an early method of trade where goods and services are
directly exchanged for other goods and services without using money.

Double coincidence of wants The double coincidence


Money as a medium of exchange of wants refers to the
situation in a barter
The use of money is a very large part of our Everyone
system where both
life. Money is widely used as a medium of exchange as
goods are exchanged with money. parties must want what
the other offers in
Modern forms of money

D
order to make a trade.

RA
CURRENCY:
Currency is a generally accepted form of money, Money
KI
including coins and paper notes.
In India, the Reserve Bank of India (RBI) issues Anything which is
currency notes on behalf of the central
T

legalized by the
government.
AN

The law legalizes the use of ‘rupee'(₹) as a medium government of the


of payment that cannot be refused in setting country that helps in
H

transactions in India. medium of exchange and


Therefore the 'rupee’ (₹) is widely accepted as a
AS

measure the value of


medium of exchange. goods and services.
Deposits with banks
PR

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.

Modern Banking System


Banks mediate between those who have extra funds (the depositors) and
those who need those funds (the borrowers).
Banks charge a higher interest rate on loans than what they offer on
deposits. This difference between interest is bank's main source of income.
PRASHANT KIRAD

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.

TERMS OF CREDIT: Debt trap Debt trap is a situation


These are the specific conditions under which a in which a loan is
loan is provided, including payment methods,
difficult or impossible
interest rates, loan duration, and other related
terms. to repay, it is mainly
Collateral: This refers to an asset the borrower caused due to high
owns (like land, buildings, vehicles, livestock, or interest.
bank deposits) that serves as a security for the
lender until the loan is fully repaid. Common forms
of collateral include land titles, bank deposits, and
livestock.

D
Lender's Rights: If the borrower defaults on the

RA
loan, the lender is entitled to sell the collateral to
recover the owed amount.
KI
Credit Sources in India:
T

Loans can be categorized into two main types: formal sector loans and informal
AN

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.
H
AS

FORMAL SOURCE OF CREDIT INFORMAL SOURCE OF CREDIT


PR

Their work is regulated by RBI. They do not work under any


They charge a lower rate of government organization.
Interest than informal sources. They charge a higher rate of
They follow rules and regulations interest than formal sources.
formed by the government. They do not follow most of the
rules and regulations.
Formal credit can help prevent
Borrowers are at higher risk of
people from falling into a debt
falling into a debt trap due to
trap.
high interest rates.
It might require collateral for It does not require any
the credit. collateral.
The rate of interest is on a yearly Generate rates of interest
basis. every month.
E.g.: Banks and cooperatives. Eg: Money lenders, and traders.
PRASHANT KIRAD

Why do people in rural areas prefer


informal sources of credit??
Banks have limited reach in rural areas, whereas
informal lenders are more readily available in
villages.
Poor individuals often face difficulty in securing
bank loans due to the requirement of collateral,
which they usually do not possess.
Informal lenders provide loans without
collateral, making them more accessible to the
poor.
However, the very high interest rates charged
by informal sources push people to explore
alternative borrowing options.

Self Help Groups (SHGs for Poors):

D
SHGs (Self Help Groups) consist of 15-20 members who regularly meet and

RA
pool their savings. The savings amount ranges from ₹25 to ₹100 or more,
depending on each person’s capacity.
KI
After one to two years of consistent savings, the group becomes eligible to
apply for loans from banks.
T

SHGs help their members overcome the challenge of not having collateral for
AN

loans.
Decisions on loans, such as interest rates, duration, purpose, and loan amounts,
are made collectively by the group members.
H

If a member is unable to repay their loan, other members can contribute on


AS

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.
PR

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.
PRASHANT KIRAD

FORMAL SOURCE OF CREDIT INFORMAL SOURCE OF CREDIT

Their work is regulated by RBI. They do not work under any


They charge a lower rate of government organization.
Interest than informal sources. They charge a higher rate of
They follow rules and regulations interest than formal sources.
formed by the government. They do not follow most of the
rules and regulations.
Formal credit can help prevent
Borrowers are at higher risk of
people from falling into a debt
falling into a debt trap due to
trap.
high interest rates.
It might require collateral for It does not require any
the credit. collateral.
The rate of interest is on a yearly Generate rates of interest
basis. every month.

D
E.g.: Banks and cooperatives. Eg: Money lenders, and traders.

RA
Q3. Write any three reasons for the banks and cooperative societies to
KI
increase their lending facilities in rural areas.
Ans: Three reasons for banks and cooperative societies to increase lending
T

facilities in rural areas:


AN

Reduce dependence on informal credit: Provides loans at lower interest


rates, reducing exploitation by moneylenders.
H

Boost agricultural development: Helps farmers invest in better resources,


AS

increasing productivity.
Promote self-employment: Encourages small businesses and self-reliance
PR

through affordable loans.


Q4. Describe any four advantages of Self-Help Groups for the poor.
Ans: This is a new idea to organize rural poor particularly women who
pool their savings. Generally, this group has 15-20 members. Members belong to
the neighbourhood so that they can meet and save regularly. The four
advantages of Self-Help Groups for the poor are:

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.

D
Q6. Explain any three functions of the Reserve Bank of India.
Ans: Functions of Reserve Bank of India.
RA
KI
Supervises the functioning of loans in the formal sector.
It issues guidelines for fixing rates of interest on deposits and lending by
T

banks.
AN

It issues currency notes on behalf of the Central Government.


Maintain checks and balances.
H

Q7. Why is the modern currency accepted as a medium of exchange without


AS

any uses of its own?


PR

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!!!!

“Class 10th Phodenge”


- Prashant Bhaiya
CLASS 10 NOTES
SOCIAL SCIENCE
Sectors of Indian
Economy
PRASHANT KIRAD
PRASHANT KIRAD

Sectors of Indian Economy


Economic Activity: The activities which are formed to generate income.

Exam me aayega
Classification of Economic Activities:
On the basis of On the basis of On the basis of
Nature employment ownership

Primary sector Organised sector Public sector


Secondary sector Unorganised sector Private sector
Tertiary sector

Primary sector :- Directly connected to nature

D
When we produce something by exploiting natural resources it is an

RA
activity of the primary sector.
Provides the base for all other products.
Related to agriculture, it is also called Agricultural and related sector.
KI
e.g.: Dairy, Farming, Mining etc.
T

Secondary sector :- Industrial sector.


AN

The secondary sector covers activities in which natural products are


H

changed into other forms through ways of manufacturing.


e.g: Cotton to cloth, Sugarcane to sugar
AS

Tertiary sector:- Service sector


PR

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

Comparing the three sectors: Exam me aayega What is


GDP measures the total production of GDP??? 🤔
goods and services. Gross domestic product

The value of final goods and services produced within the


country during a particular year is called GDP.
When we calculate the production of each sector we only
add the value of final goods rather than intermediate
goods because the price of intermediate goods is already
included in final goods.
JOSH METER?
PRASHANT KIRAD
Total GDP = GDP of Primary + GDP of secondary + GDP of tertiary
sector.
GDP shows how big an economy is.
The country with the highest GDP is USA.
India has 5th largest GDP.
The GDP of India is measured by the Central
Government's Ministry.

Historical changes in sectors:


Initially, the Primary sector (agriculture) was dominant. With industrial
development, the Secondary sector (manufacturing) took over. Today, the
Tertiary sector (services) is the most important in modern economies.

Importance of Tertiary sector:- Exam me aayega

Tertiary sector has emerged as the largest producing sector in India because -

D
The government has developed hospitals, schools, courts, banks, police,

RA
army, etc., which are basic needs of a country and are part of the tertiary
sector.
KI
Development in the primary and secondary sectors has led to the
development of the tertiary sector as they are interdependent.
T

A rise in the income level of people has increased the demand for eating
AN

out, shopping, movies, tourism, etc., which are part of the tertiary sector.
New services based on information and communication technology (e.g., the
H

Internet) have become essential. These services are growing rapidly.


AS

Disguised Unemployment
PR

When more people are working than is


needed, this situation is called under-
employment or disguised unemployment.
This is the situation of underemployment,
where people are working but all of them
are made to work less than their potential.
Underemployment in the Primary Sector
"The primary sector employs a significant proportion of the workforce, yet
its contribution to India's GDP remains relatively low.
This disparity can be attributed to underemployment, a phenomenon where
individuals are not utilized to their full capacity.
A pertinent illustration of this is the case of street vendors or cart
pushers, who often work extensive hours but receive meagre earnings,
highlighting the inefficacy of underemployment."
PRASHANT KIRAD
How to create more Employments? : MgNREGA 2005
Mahatma Gandhi National Rural
The government can offer low-interest loans Employment Guarantee Act (MGNREGA)
to farmers for better equipment and multiple The MGNREGA was launched in 2005 to
provide employment opportunities in rural
cropping, ensuring year-round employment. areas
Investment in transportation and road - Guarantees 100 days of employment per
year to rural households
construction would create jobs for labourers - Provides unskilled labour jobs in rural areas
and drivers. - Ensures fair wages and social security
- Reduces poverty and migration
Setting up industries near rural areas can
- Empowers rural communities
generate employment for many. - Promotes sustainable development
By building more schools and appointing The MGNREGA is a vital initiative that
supports rural employment and development.
teachers, over 20 lakh jobs can be created. By understanding its features and benefits,
Developing the tourism sector can generate we can appreciate its impact on rural
communities.
more than 35 lakh jobs.
Organised vs unorganised sector

D
RA
Organized Sector Unorganized Sector

Registered by the government and follow all Not registered with the government and often
KI
rules. violate rules.
T

Workers have job security and can't be fired Workers don't have job security and can be
AN

without proper reasons. fired at any time.


H

Workers get a pension when they retire. Workers do not get a pension when they retire.
AS

Good working conditions and a safe Often dangerous work environments without safe
environment. equipment.
PR

No fixed work hours and no extra pay for


Fixed work hours, paid extra for overtime.
overtime.

Paid leave, payment during holidays, provident


No paid leave, holidays, or leave due to sickness.
fund, etc.

Examples: Government jobs, schools, banks, Various informal jobs are not regulated by the
etc. government.

How to protect the Unorganised Sector:


In Rural Areas: Support small and medium farmers with timely
seeds, cheap loans, storage facilities, and fair market prices.
In Urban Areas: Support labourers and small industries with
good labour laws and favourable policies.
Pointers yaad
rakhna, important h!
PRASHANT KIRAD

Backward Communities: Protect workers in the unorganized sector from


discrimination based on caste or background.

Public and Private sector:


Public sector
The government owns most of the assets and provides all the services.
Their goal is to serve people.
For example - Government schools, hospitals, post offices, the army etc.

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.

D
Top 7 Questions RA
KI
Short answer type questions
T
AN

Q1. What constitutes the unorganised in the urban areas? Why do


workers in this area need protection? (CBSE-2015)
H

Ans: Workers in small-scale industry, casual workers in construction, and


trade transport constitute the unorganised in the urban areas. The workers
AS

in this sector need protection because:


PR

1. They are paid very low.


2. Their work is erratic.

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.

D
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.

Long answers type questions RA


KI
Q5. Write the difference between organised and unorganised sectors.(2021)
T
AN
H
AS
PR

Q6. Write the reasons, for increasing the importance of the tertiary
sector. (2016)
PRASHANT KIRAD

The government has developed hospitals, schools, courts, banks, police,


army, etc., which are basic needs of a country and part of the tertiary
sector.
Development in primary and secondary sectors has led to the development
of the tertiary sector as they are interdependent.
The rise in the income level of people has increased the demand for eating.
Information and communication technology services, such as
telecommunications, internet, and software services, have become critical
and are rapidly growing.
Q7. How to generate more employment? (CBSE-2023)
Ans:
1. The government should offer low-interest loans to small farmers.
2. Develop irrigation systems for rural areas.
3. Establish local industries in rural communities.

D
4. Provide vocational training for in-demand skills.

RA
5. Collaborate with the private sector for job creation.
6. Support entrepreneurship through mentorship programs.
KI
7. Invest in infrastructure for rural development.
8. Encourage tourism to create local job opportunities.
T
AN
H
AS
PR

"Class 10th Phodenge"

~ Prashant bhaiya
CLASS 10 NOTES
SOCIAL SCIENCE
Globalisation and the
Indian economy
PRASHANT KIRAD
PRASHANT KIRAD

Globalisation and the Indian


economy
Globalisation MNCs (Multinational corporations):
Globalisation is the process of "A multinational corporation (MNC) is a
rapid integration or company that has operations in more than
interconnection among one nation, engaging in foreign direct
countries. investment and global economic integration.
MNCs drive globalization by facilitating the
Advantages of globalization in
movement of goods, services, and
Modern world. technology between countries.
Increase in employment. They control a substantial portion of

D
Establish interconnection foreign trade, contributing to economic

RA
between countries. growth and development.
It improves Access to Goods MNCs play a significant role in shaping the
KI
and Services eventually global economy.
benefiting customers.
T

The rapid growth of the Yes, it is a good process for


AN

economy. the world


Better income.
H

Factors that have enabled Globalisation.


AS

Technology
PR

1.Transportation Technology: The development of faster and more efficient


transportation systems (e.g., ships, trains, aircraft) has moved goods and people
across borders quicker and cheaper. This allows for the large-scale trade of
products globally.

2. Communication Technology: The invention of the internet, mobile phones, and


satellites has revolutionized communication, making it instantaneous across the
globe. This has facilitated international trade, exchange of ideas, and
coordination between multinational corporations (MNCs).
Liberalization refers to the removal of barriers or
restrictions set by the government.
To promote the liberalization of foreign trade, In 1991, the
Indian government made changes in policies and removed
trade barriers to a large extent.

JOSH METER?
PRASHANT KIRAD

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.

Most of the MNCs are located in


Bangalore, Hyderabad, Noida and Gurgaon.
An increase in taxes on products can
negatively impact globalisation.

D
Top 7 Questions RA
KI
T

Short answer type questions


AN

Q1. Why do MNCs set up their offices and factories in those regions where
they get cheap labour and other resources? (CBSE 2016)
H

Ans: MNCs set up their Offices and Factories in regions where they can get
AS

cheap labour and other resources because this helps them reduce the cost of
production. Lower production costs allow them to increase their profit margins.
PR

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.
PRASHANT KIRAD
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.

Long answer type questions


Q6. Which factors have stimulated the globalisation process?
Ans: Transportation improvement- In the last fifty years, there has been a

D
lot of improvement in transportation technology. This has made faster delivery

RA
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.
KI
Telecommunications - Facilities like telephone, telegraph, mobile, and fax are
used to connect people in the world. This has been made possible due to
T

satellite communication devices.


AN

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.
H
AS

Q7. How do MNCs manage the production in other countries?


Ans: MNCs not only sell their finished products globally but also produce the
PR

goods and services globally.


As a result, production is organized in increasingly complex ways.
The production process is divided into small parts and spread out across the
world. For example:
China provides the advantage of being a cheap manufacturing location.
Mexico and Eastern Europe are useful for their closeness to the markets in
the US and Europe.
India has highly skilled engineers, who can understand the technical aspects
of production.

Pointers yaad rakhna,


important hai!

"Class 10th Phodenge"


~ Prashant bhaiya

You might also like

pFad - Phonifier reborn

Pfad - The Proxy pFad of © 2024 Garber Painting. All rights reserved.

Note: This service is not intended for secure transactions such as banking, social media, email, or purchasing. Use at your own risk. We assume no liability whatsoever for broken pages.


Alternative Proxies:

Alternative Proxy

pFad Proxy

pFad v3 Proxy

pFad v4 Proxy