N.C.E.R.T. Simplified

Ch. 1 Development Questions and Answers Ch. 2 Sectors Of The Indian Economy Questions and Answers Ch. 3 Money and Credit Questions and Answers Ch. 4 Globalisaton and The Indian Economy Questions and Answers Ch. 5 Consumer Rights Questions and Answers

Q. Why is the tertiary sector becoming more important in India? A. Over the forty years between 1970-71 and 2010-11, while production in all the three sectors has increased, it has increased the most in the tertiary sector. As a result, in the year 2010-11, the tertiary sector has emerged as the largest producing sector in India. This is because: ・ In any country several services such as hospitals, educational institutions, post and telegraph services, police stations, courts, village administrative offices, municipal corporations, defence, transport, banks, insurance companies, etc. are required. These can be considered as basic services. ・ The development of agriculture and industry leads to the development of services such as transport, trade, storage and the like. Greater the development of the primary and secondary sectors, more would be the demand for such services provided by the tertiary sector. ・ As income levels rise, certain sections of people start demandi...

Q. Who is a consumer? A.  A consumer is a person who purchases goods and services for personal use. Q. What is adulteration? A.  Adulteration means mixing something of an inferior quality which is harmful as well with a food or drink item before selling. Q. Who is a producer? A.  A producer is someone who produces goods or services to be sold. Q. When did the UN adopt the UN guidelines for consumer protection? A.  UN adopted the UN guidelines for consumer protection in 1985. Q. What does ISI stand for? A.  ISI stands for Indian Standard Institute.  Q. Describe the conditions in which markets do not work in a fair manner? A. ・Markets don't work in a fair manner when producers are few and powerful whereas consumers purchase in small amounts and are scattered. ・This happens especially when large companies are producing goods. These companies with huge reach, wealth, and power can manipulate the market in various ways. Thus i...

Q. What is the Human Development Report? A.  The Human Development Report is a report published by the UNDP, which compares countries based on the educational levels of the people, their health status, and the per capita income of the countries. Q. What is the difference in the criteria used by the World Bank and that of the UNDP for measuring development? Which one do you think is better and why? A.  World Bank UNDP World Bank compares countries on the basis of their average income(per capita income) i.e. the total income of the country divided by its total population. It compares countries on the basis of: per capita income educational level of people i.e. literacy rate health status (life expectancy at birth) The criteria used by UNDP is better because it considers other goals which affect human development and are necessary for better living standards. Q. Explain the meaning of HDI. Mention 3 components of measuring HDI. ...