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Last Minute Revision Notes CBSE Class 10 Social Science 2024
We are Giving First Questions and After Solution of the Questions.
Economics Part
Most Important Questions of Social Science CBSE Class 10 for Exam 2024
Q1.Propose any two measures to be taken by India in improving its HDI. (2014)
Q2.How can the formal sector loans be made beneficial for poor farmers and workers? Suggest any five measures (2016)
Q3.What do you mean by the term ‘collateral’? Why do banks ask for collateral while giving loans? (2018)
Q4.“Average income is an important criterion for development.” Justify. (2018)
Q5.Explain the significance of The Reserve Bank of India in the Indian economy. (2017)
Q6.Explain the interdependence of all three sectors giving examples from the transportation system. (2019)
Q7.What does the history of developed countries indicate about the shifts that have taken place between sectors? (2020)
Q8.What are the various sources of credit in rural areas? Which one of them is the most dominant source of credit and why? (2022)
Q9.Why is it necessary that banks and co-operatives increase their lending in rural areas? Explain. (2016)
Q10.“Conflicting goals can be development goals.” Elaborate with examples. (2013)
Q11.How are deposits with the banks beneficial for an individual as well as for the nation? Explain with examples. (2018)
Q12.How is the issue of sustainability important for development? Explain with three examples. (2014)
Q13.“Money in your pocket may not buy all the goods and services you need to live well.” Is it true or not? Elucidate. (2019 C) Money in our pockets cannot buy all the goods and services that we may need to live well.
Q14.In what ways can employment be increased in urban areas? (2019)
Q15.Why is credit a crucial element in economic development? (2020) Credit is a crucial element in the economic development of a country because:
Most Important Answers of Question of Social Science CBSE Class 10 for Exam 2024
Answer 1 :
Two measures to be taken by India to improve its HDI could be: ● Increase in budgetary allocation on education and healthcare facilities. India needs to focus on improving access to healthcare services, especially in rural areas. This could involve building more hospitals and clinics, training more healthcare workers, and implementing policies to reduce the cost of healthcare. Subsidies can be channelized towards the generation of more employment opportunities. ● Investing in education: India needs to invest in education to improve its human capital. This could involve increasing the number of schools and colleges, providing better teacher training, and implementing policies to ensure that all children have access to education. Additionally, there needs to be a focus on improving the quality of education to ensure that students are gaining the skills they need to succeed in the workforce.
Answer2 :
● The measures to make formal sector loans beneficial for poor farmers and workers are: ● The formal sector like banks and cooperatives should lend more to poor people and workers, particularly in rural areas. ● The formal sector should provide cheap and affordable credit to the poor people so that repayment is easy. ● Formal sector should work out other ways of arranging collateral from the poor people. ● By providing linkage between self-help groups and banks, the formal sector of credit can be increased. ● There should be more cooperatives and banks in rural areas and people should be made aware of their presence.
Answer 3:
Collateral is an asset that the borrower owns (such as land, building, vehicle, livestock, deposits with banks, etc.) and uses this as a guarantee to a lender until the loan is repaid. ● Banks use collateral as a guarantee until the loan is repaid. If the borrower fails to repay the loan, the lender has the right to sell the asset or collateral to obtain payment.
Answer 4 :
To check the criteria for the development of countries, their income is considered to be one of the most important attributes. ● Countries with higher incomes are more developed than others with less income. ● This is based on the understanding that more income means more of all the things that human beings need.
Answer 5:
Significance of RBI in the Indian economy: 1. In India, the Reserve Bank of India issues currency notes on behalf of the Central Government. 2. It supervises the functioning of formal sources of loans. 3. The banks maintain a minimum cash balance out of the deposits they receive. 4. The RBI monitors that the banks actually maintain the cash balance. 5. The RBI sees that the banks give loans not just to profit-making businesses and traders but also to small cultivators, small-scale industries, small borrowers, etc. 6. Periodically, banks have to submit information to the RBI on how much they are lending, to whom, at what interest rate, etc.
Answer 6:
The tertiary sector does not produce any goods but it helps in the production of goods in the primary and secondary sectors. For example: ● In the primary sector, we need the service of transportation for getting the supply of agricultural inputs and also for selling food grains in the market or supplying agricultural raw materials to agro-based industries. ● In the secondary sector, we need the help of transportation for bringing the raw materials and taking the final products to the market. ● Transportation is required in the service sector as well such as for providing medical facilities to the people and other services like fire services, etc.
Answer 7:
During early civilization all economic activity was in the primary sector. When food production became surplus people’s need for other products increased. This led to the development of the secondary sector. ● The growth of the secondary sector spread its influence during the industrial revolution in the nineteenth century. ● After the growth of economic activity a support system was needed to facilitate industrial activity. ● Certain sectors like transport and finance play an important role in supporting the industrial activity and comprise the tertiary sector.
Answer 8:
Other sources of rural credit: (i) Cooperative Societies are another major source of rural credit. They are a source of formal sector credit. Cooperative members pool resources for helping one another, e.g., Farmers. Cooperatives, Weavers. Cooperatives, etc. They offer cheap credit in rural areas for their members. Once these loans are repaid, another round of loans is offered. (ii) Agricultural traders, relatives, and friends are other informal sources of rural credit. Some farmers borrow from agricultural traders who supply the farm inputs (such as seeds, fertilizers, pesticides, etc.) on credit at the beginning of the cropping season and repay the loans after the harvest. (iii) Commercial banks also give loans to rural households. However, not many rural households borrow from banks as they require proper documentation and collateral.
Answer 9 :
1. To save people from the exploitation of the informal sector 2. To save and reduce the dependence on informal sources of credit 3. Formal sources charge a low rate of interest on loans. 4. Higher Income through cheap borrowing 5. To save from debt trap and exploitation. 6. It provides cheap and affordable credit. Cheap and affordable credit is crucial for the country’s development 7. RBI also supervises the formal sector credit through various rules and regulations which ensures that banks give loans to small cultivators, small borrowers, etc., and not just to profit-making businesses and traders. 8. It is important that formal credit is distributed more equally so that the poor can benefit from cheaper loans.
Answer 10:
● At times two people or groups of people may seek things that are conflicting. A girl expects as much freedom and opportunity as her brother and he also shares in the household work. Her brother may not like this. ● Similarly, to get more electricity, industrialists may want more dams but this may submerge the land and disturb the lives of people who are displaced, such as tribals.
Answer 11:
The benefits of deposits with the banks are: 1. This ensures the safety of money and they also earn interest from the bank. 2. Demand deposits can be withdrawn whenever the person wants. It also allows payments to be made through cheque. 3. Through cheques, the money gets directly transferred between banks. So, no direct payment of cash needs to be made. 4. Banks extend loans from the deposits they receive so they mediate between people having surplus funds and people in need of more funds through these deposits. 5. Since bank deposits are also white money, the nation’s economy is more transparent.
Answer 12:
Development, at present, without harming the environment and also keeping it safe for future generations is termed sustainable development. ● Groundwater, which is a renewable resource, is getting depleted because of its overuse. People are facing the problem of a water crisis due to its indiscriminate use. ● The development that emerged from the fast industrialization leads to the cutting of forests and its result is a polluted- environment for the present as well as for future generations. ● Crude oil which is a non-renewable resource with limited stock is depleting gradually. So we need to use it wisely.
Answer 13:
Money in our pockets cannot buy all the goods and services that we may need to live well. ● Money cannot buy us a pollution-free environment. ● Money cannot buy us a disease-free life and might not be able to get protection from infectious diseases. ● Besides money, people also like to have equal treatment in society, freedom, dignity, and honor in their lives, which money cannot buy them.
Answer 14:
There are a number of ways to increase urban employment in India, including: Encouraging foreign investment: Attracting foreign investment can create jobs in a variety of industries, including manufacturing, technology, and services. Developing small and medium-sized enterprises (SMEs): SMEs are a major source of employment in urban areas, and policies that support their growth and development can help to create jobs. Providing vocational training: Vocational training can help to match workers with the skills that are in demand in the urban labor market. Promoting the growth of the service sector: The service sector, including tourism, retail, and healthcare, is a major source of urban employment in India. Policies that encourage the growth of this sector can help to create jobs. Focusing on Infrastructure development: Infrastructure development can create jobs in the short term, as well as make it easier for businesses to operate and for people to move around in the long term. Encouraging entrepreneurship: Encouraging entrepreneurship can help to create new businesses and jobs, particularly in the informal sector. Improving access to credit: Improving access to credit can help entrepreneurs and small businesses grow, which can create jobs.
Answer 15:
1. It helps to meet the ongoing expenses of production. 2. It helps in increasing earnings and encourages people to invest in agriculture, engage in business, and set up small industries. 3. It helps in completing production on time. 4. Cheap credit will end the vicious cycle of a debt trap. 5. Cheap and easy credit would inspire better investment in technology and would increase competition
