Post on 24-Feb-2018
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1. DEVELOPMENT
Diferent persons can have diferent developmental goals and two, what may be
development or one may not be development or the other. It may even be
destructive or the other.
There are many things that are not easily measured but they mean a lot to our
lives.
For development, people look at a mix o goals.
Human Development Index
As of 1 July 2015, as per GNI per capita in 2014, calculated using theWorld Bank Atlasmethod,
low-income economies of $1,045 or less;
middle-income economies $1,045 to $12,736;
high-income economies $12,736 or more.
Lower-middle-income and upper-middle-income economies are separated at a GNI per capita of
$4,125.
The rich countries, excluding countries of Middle East and certain other small countries, are generally
called developed countries.
https://datahelpdesk.worldbank.org/knowledgebase/articles/378832-what-is-the-world-bank-atlas-methodhttps://datahelpdesk.worldbank.org/knowledgebase/articles/378832-what-is-the-world-bank-atlas-methodhttps://datahelpdesk.worldbank.org/knowledgebase/articles/378832-what-is-the-world-bank-atlas-methodhttps://datahelpdesk.worldbank.org/knowledgebase/articles/378832-what-is-the-world-bank-atlas-methodhttps://datahelpdesk.worldbank.org/knowledgebase/articles/378832-what-is-the-world-bank-atlas-method7/25/2019 NCERT Economics Class 10 gist
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HDI HDIL.E. at
birth
Expected
years of
schooling
Mean years of
schoolingGNI per capita
GNI P.C. rank in!s
HDI rank
HDI rank Co!ntry "al!e #years$ #years$ #years$ #%&'' PPP ($
%&') %&') %&') %&') %&') %&')
1 Norway 0.944 81.6 17.5 12.6 64,992 5
50Russian
Federation0.798 70.1 14.7 12.0 22,352 -1
73 Sri Lana 0.757 74.9 13.7 10.8 9,779 29
75 !ra"i# 0.755 74.5 15.2 7.7 15,175 -1
90 $%ina 0.727 75.8 13.1 7.5 12,547 -7
116 Sout% &'ri(a 0.666 57.4 13.6 9.9 12,122 -29
130 )ndia 0.609 68.0 11.7 5.4 5,497 -4
147 *aistan 0.538 66.2 7.8 4.7 4,866 -14
142 !an+#ades% 0.570 71.6 10.0 5.1 3,191 5
igeria has least !DI o
Top countries are orway, "ustralia, #wit$erland, Denmark, etherlands,
%ermany, Ireland, ", 'anada
SUSTAINABILITY OF DEVELOPMENT
()e have not inherited the world rom our oreathers * we have borrowed it
rom our children.+
ecent evidence suggests that the groundwater is under serious threat o
overuse in many parts o the country. "bout - districts have reported a water
level decline o over / metres during the past 0 years. early one1third o the
country is overusing their groundwater reserves. In another 02 years, 3 per cent
o the country would be doing the same i the present way o using this resource
continues. %roundwater overuse is particularly ound in the agriculturally
prosperous regions o 4un5ab and )estern &.4., hard rock plateau areas o central
and south India, some coastal areas and the rapidly growing urban settlements.
(Data of 2004)
The table gives an estimate o reserves o crude oil 6column78. 9ore important, it
also tells us or how many years the stock o crude oil will last i people continue
to extract it at the present rate. The reserves would last only /- years more. This
is or the world as a whole. !owever, diferent countries ace diferent situations.
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'ountries like India depend on importing oil rom abroad because they do not
have enough stocks o their own. I prices o oil increase this becomes a burden
or everyone. There are countries like " which have low reserves and hence
want to secure oil through military or economic power.
)hen we produce
a good by exploiting natural
resources, it is an activity o
the primary sector. this sector is also
called agriculture and related
sector. The secondary sectorcovers
activities in which natural products
are changed into other orms through
ways o manuacturing that we
associate with industrial activity. it is also called as industrial sector. tertiary
sectorand is diferent
rom the above two. These are
activities that help in the development
o the primary and secondary sectors.
These activities, by themselves, do not
produce a good but they are an aid
or a support or the production
process. #ince these activities
generate services rather than goods,
the tertiary sector is also called the
service sector Transport,
storage, communication, banking,
trade :conomic activities, though, are grouped into three diferent categories,
are highly interdependent. In India, the mammoth task o
measuring %D4 is undertaken by a
central government ministry. This
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9inistry, with the help o various
government departments o all the
Indian states and union territories,
collects inormation relating to total
volume o goods and services and their
prices and then estimates the %D4
5. CONSUMER RIGHTS
'onsumers participate in the market when they purchase goods and
services that they need. These are the ;nal goods that people as
consumers use.
Individual consumers oten ;nd themselves in a weak position. )heneverthere is a complaint regarding a good or service that had been bought, the
seller tries to shit all the responsibility on to the buyer.
9arkets do not work in a air manner when producers are ew and
powerul whereas consumers purchase in small amounts and are
scattered. It was presumed that it was the responsibility o consumers to
be careul while buying a commodity or service. It took many years or
organisations in India, and around the world, to create awareness amongst
people. This has also shited the responsibility o ensuring.
ampant ood shortages, hoarding, black marketing, adulteration o ood and
edible oil gave birth to the consumer movement in an organised orm in the
74".
In 7
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)hen you buy any commodity, you will ;nd certain details given on the
packing. These details are about ingredients used, price, batch number,
date o manuacture, expiry date and the address o the manuacturer.
)hen we buy medicines, on the packets, you might ;nd @directions or
proper useA and inormation relating to side efects and risks associated
with usage o that medicine.
)hen you buy garments, you will ;nd inormation on @instructions or
washingA. It is because consumers have the &i+ht t" ,e i#-"&%eabout
the particulars o goods and services that they purchase.
'onsumers can then complain and ask or compensation or replacement i the
product proves to be deective in any manner. In recent times, the right to
inormation has been expanded to cover various services provided by the
%overnment.
In >ctober 02, the %overnment o India enacted a law, popularly known as TI
6ight to Inormation8 "ct, which ensures its citi$ens all the inormation about the
unctions o government departments.
"ny consumer who receives a service in whatever capacity, regardless o
age, gender and nature o service, has the &i+ht t" 'h""!ewhether to
continue to receive the service.
'onsumers have the &i+ht t" !ee/ &e&e!!*lagainst unair trade
practices and exploitation.
&nder '>4", a three1tier ?uasi15udicial machinery at the district, state and
national levels was set up or redressal o consumer disputes.
District orums can claim upto s 0 lakhs
#tate 'onsumer Disputes edressal 'ommission1 s 0 lakhs and s 7
crore ational 'onsumer Disputes edressal 'ommission1 claims exceeding s 7
crore
'onsumers to have the &i+ht t" &e0&e!e#t in the consumer courts.
The enactment o '>4" has led to the setting up o separate departments o
'onsumer "fairs in central and state governments.
" logo with the letters I#I, "gmark or !allmark can be seen. These logos
and certi;cation help consumers get assured o ?uality while purchasing
the goods and services. The organisations that monitor and issue these
certi;cates allow producers to use their logos provided they ollow certain
?uality standards. It is not compulsory or all the producers to ollow standards. !owever, or
some products that afect the health and saety o consumers or o
products o mass consumption like B4% cylinders, ood colours and
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additives, cement, packaged drinking water, it is mandatory on the part o
the producers to get certi;ed by these organisations.
India has been observing 2 De'e%,e&as the N*ti"#*l C"#!$%e&!3 *4. It
was on this day that the Indian 4arliament enacted the 'onsumer 4rotection "ct
in 7: "D
':DITeore
the introduction o coins, a variety o
ob5ects was used as money. For
example, since the very early ages,
Indians used grains and cattle as
money. Thereater came the use o
metallic coins * gold, silver, copper
coins * a phase which continued well
into the last centuryThe modern currency
is without any use o its own.
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Then, why is it accepted as a
medium o exchangeG It is accepted
as a medium o exchange because the
currency is authorised by the
government o the countryo
individual in India can legally reuse
a payment made in rupees. #ince demand deposits are accepted
widely as a means o payment, along
with currency, they constitute money
in the modern economy'redit 6loan8 reers to
an agreement in which the lender supplies the borrower with
money, goods or services in return or the promise o uture
payment. In one situation credit helps to
increase earnings and thereore the
person is better of than beore. In
another situation, because o the
crop ailure, credit
pushes the person into
a debt trap. )hether credit would
be useul or not,
thereore, depends
on the risks in the
situation and whether
there is some support,
in case o loss. 'ollateral is an asset that the
borrower owns 6such as land,
building, vehicle, livestocks,
deposits with banks8 and uses this
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as a guarantee to a lender until
the loan is repaid. Interest rate, collateral and
documentation re?uirement, and the
mode o repayment together comprise
what is called the terms o credit. They may vary depending on the
nature o the lender and the borroweresides the interest charge on the loan, the
trader also makes the armers promise to
sell the crop to him. "lso, since the crop prices are low
ater the harvest, the trader is able to
make a pro;t rom buying the crop at a low
price rom the armers and then selling it
later when the price has risen. the village moneylenderthe only source o
credit or the landless people in #onpur are
the landowner1employersBoans rom 'ooperativesThere are
several types o cooperatives possible such as
ar mers cooperatives, weavers cooperatives,
industrial workers cooperatives, etc. Hrishak
'ooperativeormal
sector loans and
inormal sector loansThe eserve ank o India
supervises the unctioning o ormal
sources o loans. There is no organisation which
supervises the credit activities o
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lenders in the inormal sector.
!igher cost o borrowing means a
larger part o the earnings o the
borrowers is used to repay the loan. This could
lead to increasing debt 6as we saw or
ama in #onpur8 and debt trap. 'heap
and afordable credit
is crucial or the
countryAs develop1ment.
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it is necessary
that banks and cooperatives
increase their lending particularly
in the rural areas, so that the
dependence on inormal sources
o credit reduces#econdly, while ormal sector
loans need to expand, it is also
necessary that everyone receives
these loans. "bsence o
collateral is one o the ma5or reasons
which prevents the poor rom getting
bank loans. Inormal lenders such as
moneylenders, on the other hand,
know the borrowers personally and
hence are oten willing to give a
loan without collateral. In recent years, people have tried
out some newer ways o providing
loans to the poor. The idea is to
organise rural poor, in particular
women, into small #el !elp %roups
6#!%s8 and pool 6collect8 their
savings. " typical #!% has 7210
members, usually belonging to one
neighbourhood, who meet and save
regularly. #aving per member varies
rom s 02 to s 7 or more,
depending on the ability o the people
to save. 9embers can take small loans
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rom the group itsel to meet their
needs. The group charges interest on
these loans but this is still less than
what the moneylender charges. "ter
a year or two, i the group is regular
in savings, it becomes eligible or
availing loan rom the bank.
Boan is sanctioned in the
name o the group and is
meant to create sel1employment opportunities
or the members9ost o the important
decisions regarding the
savings and loan activities
are taken by the group
members. The group
decides as regards the loans
to be granted * the purpose, amount,
interest to be charged, repayment
schedule etc. "lso, it is the group
which is responsible or the repayment
o the loan. "ny case o non1repayment o loan by any one
member is ollowed up seriously by
other members in the group. ecause
o this eature, banks are willing to
lend to the poor women when
organised in #!%s, even though they
have no collateral as such.
Thus, the #!%s help borrowers
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overcome the problem o lack o
collateral. They can get timely loans
or a variety o purposes and at a
reasonable interest rate. 9oreover,
#!%s are the building blocks o
organisation o the rural poor. ot
only does it help women to become
;nancially sel1reliant, the regular
meetings o the group provide a
platorm to discuss and act on a
variety o social issues such as health,
nutrition, domestic violence, etc. %rameen ank o angladesh is one o the
biggest success stories in reaching the poor to
meet their credit needs at reasonable rates.
#tarted in the 7