NCERT Solutions for Class 10 Economics

NCERT Solutions for Class 10 Economics in PDF form is given below to download free in PDF form updated for academic session 2020-2021, based on latest CBSE Syllabus and following the new NCERT Books.

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NCERT Solutions for Class 10 Economics

Class:10
Subject:Social Science – Economics
Contents:NCERT Solutions

NCERT Solutions for Class 10 Economics in PDF

NCERT Solutions for Class 10 Economics in PDF form all the chapters are given below. Contents are updated according to new NCERT Books 2020-21 and based on latest CBSE Syllabus. Join the discussion forum to ask your doubts and reply to your friends and other users.

NCERT Solutions for Class 10 Economics

  • Chapter 1:DevelopmentRead more
  • Chapter 2:Sectors of the Indian EconomyRead more
  • Chapter 3:Money and CreditRead more
  • Chapter 4:Globalisation and the Indian EconomyRead more

Class 10 Economics Important Questions for Exams

  • 10th Economics Chapter 1:Important Questions: DevelopmentRead more
  • 10th Economics Chapter 2:Important Questions: Sectors of the Indian EconomyRead more
  • 10th Economics Chapter 3:Important Questions: Money and CreditRead more
  • 10th Economics Chapter 4:Important Questions: Globalisation and the Indian EconomyRead more
How many chapters are there in Class 10 Economics?

There are total of 5 chapters in Class 10 Social Science – Economics section. But the fifth chapter named “Consumer Rights” will not be asked in Board Examination. This chapter is considered as for project making. The chapters of Class X Economics are 1. Development, 2. Sectors of the Indian Economy, 3. Money and Credit, 4. Globalisation and the Indian Economy and 5. Consumer Rights.

What is the weightage of Economics in Class 10 Social Science?

Just like other parts History, Geography, Political Science, the weightage of Economics is also 20 Marks.

What are the main objectives of Chapter 1 Development of Class 10 Economics?

The main objective of this chapter is to understand the rationale for overall human development in India, which includes the rise of income, improvements in health and education rather than income. Understand the importance of quality of life and sustainable development.

What are the main objectives of Chapter 2: Sectors of the Indian Economy of Class 10 Economics?

The main objective of this chapter is to identify major employment generating sectors and Reason out the government investment in different sectors of economy.

What are the main objectives of Chapter 3: Money and Credit of Class 10 Economics?

The main objective of this chapter is to understand money as an economic concept and understand the role of financial institutions from the point of view of day-to- day life.

What are the main objectives of Chapter 4: Globalization and the Indian Economy of Class 10 Economics?

The main objective of this chapter is to Explain the working of the Global Economic phenomenon.

Main Topics to be covered in Class 10 Economics

10th Social Science Economics Chapter 1: Development

What Development Promises, Different people different goals, Sustainability of development, National Development, Income and other goals, Income and other criteria, how to compare different countries or states and Public Facilities.

10th Social Science Economics Chapter 2: Sectors of the Indian Economy

Sectors of Economic Activities, Sectors in terms of ownership: Public and Private Sectors, Comparing the three sectors, Division of sectors as organized and unorganized, Primary, Secondary and Tertiary Sectors in India.

10th Social Science Economics Chapter 3: Money and Credit

Money as a medium of exchange, Self Help Groups for the Poor, Modern forms of money, Formal sector credit in India, Loan activities of Banks, Terms of credit, Two different credit situations.

10th Social Science Economics Chapter 4: Globalization and the Indian Economy

Production across countries, The Struggle for a fair Globalisation, interlinking production across countries, Impact of Globalization on India, Foreign Trade and integration of markets, World Trade Organisation, globalization and Factors that have enabled Globalisation.

Important Questions on Class 10 Economics

Find out the present sources of energy that are used by the people in India. What could be the other possibilities fifty years from now?
The present sources of energy utilised by the people of India are electricity, coal, crude oil, cow dung and solar energy. Currently the consumption of energy in India is too high in comparison to its production and reserves. India’s known reserves of oil would last about 30-40 years only and it is necessary to use them wisely. Therefore, other possibilities fifty years from now could include ethanol, bio-diesel, nuclear energy and better utilisation of wind energy, solar energy, geothermal energy, hydrogen energy, tidal energy, wave energy, hydroelectric energy and biomass energy especially with the danger of oil resources running out.
Do you think the classification of economic activities into primary, secondary and tertiary is useful? Explain how.
The classification of economic activities into primary, tertiary and secondary is useful as it provides necessary information on how and where the people of a country are employed. It is also a determining factor as to which sector of economic activity contributes more or less to the country’s GDP and per capita income. With this information we can bifurcate the sectoral share in the economy and government can make amendment in policies to boost the sector contributing less to the economy.
If the tertiary sector is developing much faster than the primary sector, then it indicates that agriculture is depleting, and the government must take measures to rectify this. It is also an indicative of which sector is the most popular and which sector is becoming unpopular or regressive. Hence it is necessary to classify economic activities into these three sectors for smooth economic administration and development.
Service sector in India employs two different kinds of people. Who are these?
Following are the two different kinds of people:
a) The people indulged in the services that may directly aid the production of goods. For example, people involved in the transportation, storage, communication, finance etc.
b) The people involved in such services that may not directly help in the production of goods or the self-employed. e.g. teachers, doctors, barbers, lawyers etc. They may be termed as ancillary workers, those who provide services to the primary service providers.
Explain with an example how the terms of credit can be unfavorable for the small farmer.
The terms of credit can be unfavourable for the small farmer which can be explained by the following – a small farmer borrows from a local moneylender at a high rate of interest of 10 percent to grow rice. But the crop is hit by drought and it fails. As a result, farmer has to sell a part of the land to repay the loan. He is caught in a debt trap.
How do banks mediate between those who have surplus money and those who need money?
Banks accept deposits from people who have surplus money by paying interest on these deposits. These deposits are majorly used by the bank to extend loans to those in need of money. The rate charged by the bank from borrowers is slightly higher interest than what they pay to the depositors. The bank acts as an intermediary and benefits both the people parties. In this way, banks mediate between those who have surplus money and those who need money.
How would flexibility in labour laws help companies?
Flexibility in labour laws will aid growth of companies by being competitive and progressive. By easing up on labour laws, company heads can negotiate wages and terminate employment, depending on market conditions. This will lead to an increase in the company’s competitiveness. The government has come up with flexible policies in labour laws to attract foreign investment. The government has allowed companies to ignore many of the labour laws. Instead of hiring workers on a regular basis, companies hire workers flexibly for short periods when there is intense pressure of work. This helps to reduce the cost of labour for the company and helps achieve desired profits.
What factors gave birth to the consumer movement in India? Trace its evolution.
The factors that gave birth to the consumer movement in India are many. The consumer movements were the result of displeasure and frustration of the consumers as a lot of unfair practices were being used by the sellers. It started as a “social force” with the want to protect and promote consumer interests against the unjust, wrong and unethical trade practices. These unfair practices in the market resulted in heavy loss to the consumer; they suffered monetary loss as well as their health was affected badly. Severe food shortage, hoarding, black marketing and adulteration led to the consumer movement becoming a planned structured arena in the 1960s. Till 1970s, the consumer organisations were busy writing articles in newspaper, magazine and holding exhibitions. But recently, there has been an increase in the number of consumer groups which is concerned about the ration shop malpractices and congestion of public transport vehicles. India has witnessed an increase in the number of consumer groups and these groups have succeeded in building pressure on the business firms as well as government to follow correct business conduct. In 1986, the Indian government passed the Consumer Protection Act, also known as COPRA which was a major step in the consumer movement in India.
Suppose you buy a bottle of honey and a biscuit packet. Which logo or mark you will have to look for and why?
We should look for Agmark symbol before buying the food items because this mark acts as an identification that the product is certified by the government.