NCERT Books for Class 10 Social Science - Understanding Economic Development PDF

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Check out our latest NCERT books Class 10 Social Science Understanding Economic Development. Below are 5 Chapters included in this compilation of CBSE NCERT books for Class 10.

Chapter 1 – Development

In the first Chapter of NCERT books Class 10 Social Science Understanding Economic Development; you will get an idea about development. Different countries have different notions of development. It is often defined, based on some objectives of each country such as building infrastructures, developing educational sectors, and enhancing public safety. Economic development is key to measuring a country’s overall growth. You will also learn about Specific related terms like per capita income, attendance rate, gross enrolment ratio, human development index, etc. 

Development goals can be different for different people. Maybe something is developing for one person but not for another. For Example, the construction of a new highway can be a development for many people. But for the farmer whose land has been snatched away for the construction of that highway, then that development cannot happen at all.

Different people may have different development needs. The circumstance of any person's life decides what kind of development is needed for him. To understand this let us take the Example of two people.

A man lives in a village from where he has to walk five kilometers to catch a bus to any place. If a pucca road is built up to his village and even small vehicles start playing till his village, then it will be a development for him.

Another person lives on the outskirts of the Delhi Capital Region. He first has to walk one kilometer to the auto-rickshaw stand to reach his office. He then reaches the metro station after at least an hour's ride on an autorickshaw. After that, after traveling for an hour in the metro, he is able to reach his office. If the metro rail line reaches near his house, then it will be a development for that person.

The above Examples show that development can have many goals. But the policymakers and the government have to make such development goals that will benefit the maximum number of people.

The United Nations has divided the countries of the world into the following two groups on the basis of per capita income and national income-

Developed Country

Developed countries are those which have used maximum and efficiency in the field of agriculture, industry, transport, and trade, etc. In other words, countries that have made maximum use of their natural and human resources and have increased their national income are called developed countries. Techno-technical and scientific ways of Economic development have been done in these countries.

The major developed countries are the United States of America, the United Kingdom, Japan, etc. The national income per capita in these countries is 41,480 respectively; 33,940; 28,390 and $37,180.

The 10 most developed countries of the world in order of priority on the basis of human development are- Canada, France, Norway, the United States of America, Iceland, Netherlands, Japan, Finland, New Zealand, and Sweden 

Developing Countries

Those nations which are not prosperous but are trying to achieve a high level of development are called developing countries. This country is slowly progressing towards Economic development by progressing in the Economic and industrial sectors. Often in developing countries, the pressure of population is high and due to low production, they also have to face many difficulties in subsistence. Agricultural, industrial, commercial and technological development has decreased in these countries.

These countries have relatively low per capita income. China, India, Egypt, Brazil, Argentina, Pakistan, Myanmar, Iraq, Iran, Bangladesh, Indonesia, Tanzania, and Zaire are the major developing countries. Of these, per capita income is 530 in India, 400 in Bangladesh, 1100 in China, 470 in Pakistan, and between $ 850 to 1,800 in South-East Asian countries.

The 10 most developing countries in the world in order of priority on the basis of human development are- hong kong, Cyprus, Barbados, Singapore, Bahamas, Antigua and Bermuda, Chile, South Korea, Costa Rica, Argentina

Income and other Goals:-

More income, equal treatment, freedom, security of work, honor, and respect, facilities for the family, environment, etc. The following are the concepts of national development:-

According to the World Bank's World Development Report 2006, "Countries having per capita income of Rs.453000 per year or more in 2004 are called rich or developed nations. Those whose income is Rs.37000 per year or less, are developing/low-income countries." countries are called.

Development Goals:

Per Capita Income: When the total income of the country is divided by the population of that country, then the amount we get is called per capita income. According to the 2006 World Development Report, the annual per capita income in India is Rs 28,000.

Gross National Product: The total income produced in a country is called Gross National Product. The income from each type of Economic activity is counted in the Gross National Product.

Gross Domestic Product: The total income produced in a country after deducting the income from exports is called GDP.

Infant Mortality Rate: The number of children who die before the age of one year in every 1000 births is called the infant mortality rate. The lower this figure is, the better it is considered from the point of view of development. The infant mortality rate is an important parameter. It shows the availability and quality of health services available in any given area. According to the 2011 census, the infant mortality rate in India is 15. This shows that even today health services in India are not good.

The ratio of male to female: The number of females per thousand males is called sex ratio. If this figure is less then it shows how bad the environment is against women in that country or state. According to the 2011 census, there are only 940 females per thousand males in India.

Probable age at birth: The maximum age that an average adult can live is called the expected age.

We provide a range of NCERT solutions and NCERT books PDF Class 10 Social Science Understanding Economic Development to guide you through Exam preparations. It will help you to gain a deeper understanding of this Chapter. You also get NCERT solutions which will help you get good marks in Exams. Practice answering all questions and check the solutions given in PDF format. 

Chapter 2 – Sectors of the Indian Economy

Economic activity: - Activities by which income is obtained for living.

Any economy is divided into three sectors or sectors:-

• Primary Sector
• Secondary Sector

The sector of the economy that uses the products of the primary sector as raw material for its activities is called the secondary sector. For Example iron and steel industry, textile industry, vehicle, biscuit, cake, etc. In fact, manufacturing work is done in this sector, which is why it is also called the industrial sector.

Tertiary Sector

Various types of services are produced in this sector; Such as banking, insurance, education, medicine, tourism, etc. 

Public Sector: In which most of the assets are owned by the government and the government provides all the services.

Private Sector: The sector in which the ownership of assets and the distribution of services is in the hands of an individual or a company.

Gross Domestic Product: The value of final goods and services produced by each sector in a particular year provides information about the total production of the country in that year.

The increasing importance of the tertiary sector in production:-

The highest growth in India in the last forty years has been in the tertiary sector.

There are many reasons for this rapid growth such as proper management of services, transportation, good storage facilities, more development of business, availability of education, etc. 

In any country, many services like hospital transport, bank, postal telegram, etc. are required. In the development of agriculture and industry, services like transportation, warehousing are developed.

With the increase in income, many services like restaurants, tourism, shopping, private hospitals, and schools, etc. start demanding. Some new services based on information and communication technology have become important and indispensable.

Low unemployment: - When more people are employed in a job than what is needed and they are working with less capacity than their production capacity. Also called disguised and hidden unemployment. The problem of underemployment is more in the agricultural sector, that is, even if we remove some people from the agricultural sector, there will be no special effect in the production. 

Educated Unemployment: When educated, trained persons do not get work according to their ability. 

Skilled Worker: One who has received proper training for a job.

Unskilled Labor: Those who have not received any training.

Organized Sector: It includes those enterprises or work, where the period of employment is fixed. They are registered by the government and follow the prescribed rules and regulations.

Unorganized Sector:  It is made up of small and scattered units, which are mostly outside the control of the government. Government rules are often not followed here.

Double Counting Problem: This problem arises when the output value of all the products is added to calculate the national income. Because of this the cost of raw material is also added. Therefore only the value of the final product should be calculated for the solution.

Unorganized Sector: Landless farmers, agricultural laborers, small and marginal farmers, tenant farmers, sharecroppers, craftsmen, etc. In urban areas, industrial workers, construction workers, those engaged in trade and transport, people carrying junk, and burden need protection.

(MGNREGA):

The Act aims to provide livelihood security to the people of rural areas, which guarantees hundred days of wage employment in a financial year. Under this scheme, adult members (above 18 years) are engaged in unskilled work as wages.

It is a demand-driven, social security and labor law, which aims to enforce the 'Right to work'.

The scheme is being implemented by the Ministry of Rural Development (MRD) of the Government of India in collaboration with the State Governments.

Right to work:

Guaranteed 100 days of employment every year to the able and needy unemployed rural people by the government. Unemployment allowance will be given in case of failure.

It is worth noting that there is a provision of 150 days of employment under MGNREGA in drought-prone areas and tribal areas.

MGNREGA Related Challenges

The reduction in wages has a direct impact on the power of the villagers and they reduce their demand.

Delay in Payment of Wages: A study found that 78 percent of payments made under MGNREGA are not made on time and 45 percent of payments are delayed as per the guidelines.

As we provide free NCERT books PDF, you can get access to the required knowledge easily. In this Chapter, you will be introduced to a simple economy’s concept and its sectors. There are mainly three sectors, which are primary, secondary, tertiary. Learning about new concepts like gross domestic product or GDP, employment rate can provide you with basic information about the growth of industrialism. 

Another aspect this Chapter covers is unemployment problems and their solutions. The need for agricultural development and industrial empowerment will let you know about its possibilities. Also, you will learn about various concepts by practicing solutions. By reading through NCERT textbooks Class 10 Social Science Understanding Economic Development, you will gain in-depth knowledge about India’s Economic condition.

Chapter 3 – Money and Credit 

NCERT textbooks Class 10 Social Science Understanding Economic Development help you to grasp knowledge about money and credit. These are the two main factors of the Economic growth of any country. It will be interesting to know about the history of money and its transformation. The Chapter covers in detail study about the role of banking sectors, the demonetization of currency, and a detailed study about public and demand deposits. 

In day-to-day life, you may have used digital transactions. This Chapter provides all the needed information about money transfer through mobile phones, the internet, POS swipe machine. It reduces the requirement of carrying cash at all times. 

In the second part, you will come across a conceptual study of the credit system and its effect on people. In view of that, at Vedantu, we provide CBSE NCERT books in PDF format for this subject. Various Exercises and their solutions at the end of each Chapter lend new insight into the subject matter. Go through the Chapters carefully and solve the Exercise. It will help you to attain more knowledge about the money and credit system.

Barter System: The transaction of goods for goods is called a barter system.

Metallic Currency: Currency made of any metal like gold, silver, nickel, and copper is called metal currency.

Banking: Banking is the acceptance of deposits on demand from the public or through checks etc. 

Credit: By people from private individuals or banks

The money taken is called credit.

Bank: A bank is an institution that accepts deposits to earn profits. Which is paid by check and which gives loans and advances to the people.

Self-reliant Group / Self-Help Group: A group formed by people to protect their interests is called a self-reliant group.

Double Coincidence of Needs: When two persons

If the needs are met for barter without using money, then it is called a double coincidence of needs.

Money is said to be a medium of exchange: it can be easily exchanged for any goods or service. It acts as an intermediary in the exchange process thereby eliminating the need for double coincidence.

Chapter 4 – Globalisation and the Indian Economy

Globalization - When the economy of a country harmonizes with the economy of other countries of the world, then it is called Globalization.

Liberalization - The process of removing barriers and restrictions by the government or giving relaxation is called Liberalization.

World Bank - The World Bank is an international organization that provides financial assistance to its member countries.

MNCs - A company that controls production in more than one country.

Privatization - When public sector companies are sold or given control to the private sector in a phased manner, it is called privatization.

W. T. O. - W. T. O. The full name of the World Trade Organisation. Its aim is to liberalize international trade.

Current Account - In a financial year, the trade of goods and services, as well as transfer of payments, is called a current account.

Capital Account - Stock, brand, land, and deposits in the bank can be bought or sold or they can be invested in the form of capital, the details of this are called capital account.

Flexibility - The relaxation given by the government in the law to encourage industries is called flexibility.

Investment - Money spent on the purchase of assets like land, building, machine, and other equipment like shares, insurance, fixed deposits, etc. is called investment.

Free Trade - When there is trade between two countries without any restrictions, then it is called free trade.

Foreign Investment - When investment made by multinational companies to establish a business in a country is called foreign investment.

The New Economic Policy was introduced in India in 1991.

The economy of India is a mixed economy.

Out of the three sectors of the economy in India, the third sector has benefited the most from globalization.

Fiscal Deficit - The income earned by the government and spending more than that on schemes is called a fiscal deficit.

You can grasp the knowledge about globalization in the 5th Chapter of NCERT textbooks Class 10 Social Science Understanding Economic Development. Know the definition of globalization and how it is connecting distant regions across the world. It is a connecting agent between foreign trade and multinational corporations. The rise of MNCs and their way of spreading their productions across the world is the main topic of the first section.

The next section talks about the role of MNCs, the main three factors of globalization. It also narrates the contrasting scenario of the pre and post-liberalization eras. Later, it talks about the role of liberalization. The final section will give you an idea about globalization in India. After reading this Chapter, students will get a new perspective on Indian Economic growth. So, download the free NCERT books PDF and start attempting the questions today. 

Chapter 5 – Consumer Rights

The last Chapter of NCERT textbooks Class 10 Social Science Understanding Economic Development deals with consumer Rights. To protect consumers against unfair and unethical practices, the Indian government enacted the Consumer Protection Act in 1986. If you go through the practice sections of CBSE NCERT books, you will gain confidence about the subject matter. This Chapter provides case histories about how the consumer movement started and how the side-effects of black marketing, hoarding, etc. led to a social movement. 

Consumer:

People buy different types of items from the market for their daily needs.

Producer:

People who manufacture or produce items of daily necessities.

Rights of Consumers:-

Rights are given by law to protect the interests of consumers such as:-

• Right to protection

• Right to Information

• Right to choose

• Right to redress

• Right to consumer education

Reasons for Exploitation of Consumers:-

• limited information

• limited supply

• limited competition

• low literacy

Duties of Consumers:-

• While buying any goods, consumers must see the quality of the goods. Wherever possible, a guarantee card must be taken.

• A receipt must be obtained for the goods and services purchased.

• You must report your actual problem.

• ISI And buy only goods with Agmark marks.

• Must be aware of his Rights and

• Those Rights should also be Exercised when necessary.

Limitations of Consumer Redressal Process:

• The consumer redressal process is proving to be complex, costly, and time-consuming.

• Sometimes consumers have to take the help of lawyers. These cases take a lot of time to attend and proceed with the court proceedings etc.

• Receipts are not given for most of the purchases? In such a situation it is not easy to gather evidence.

• Most of the purchases in the market are from small retail shops.

• It is especially weak in the unorganized sector despite the enforcement of laws to protect the interests of workers.

• In this way, rules and regulations are often not followed for the functioning of the markets.

Consumer Protection Act 1986 (COPRA) :-

A law designed to protect the interests of consumers.

20 lakhs at the district level, 20 lakhs to one crore at the state level, and the national level courts deal with the cases related to claims above 1 crore.

Consumer Movement in India:-

The tradition of adulteration, black marketing, hoarding, underweight, etc. is very old among the traders of India. Consumer movements in India started in the 1960s. Until the 1970s, such movements were limited to writing articles in newspapers and holding exhibitions. But the movement has gained momentum in recent years.

People had become so dissatisfied with vendors and service providers that they were left with no option but to agitate. After a long struggle, the government also took care of the consumers. As a result, the government enacted the Consumer Protection Act (COPRA) in 1986.

Consumer Forum:-

In India, many institutions have been formed at the local level to protect the interests of consumers. These organizations are called consumer forums or consumer protection councils. The job of these organizations is to guide any consumer in filing a case in consumer court. Sometimes such organizations also advocate on behalf of the consumer in the consumer court. Grants are also given to such institutions by the government so that concrete work can be done in the direction of the above awareness.

Nowadays, there are Resident Welfare Associations in many residential areas. If any member of such association has been cheated by any vendor or service provider, then they also fight for that member.

Consumer Court:

It is a quasi-judicial system consisting of three layers. The names of these levels are district-level courts, state-level courts, and national-level courts. Cases involving claims up to Rs 20 lakh go to the district level court for the hearing. Cases ranging from Rs 20 lakh to Rs 1 crore go to the state-level courts. Cases involving claims above Rs 1 crore go to the consumer courts at the national level. If a case is dismissed by the district level court, the consumer will be at the state level; And after this; There is a Right of appeal at the national level.

National Consumer Day:

December 24 is celebrated as National Consumer Day. This is the same day when the Consumer Protection Act was implemented by the Indian Parliament. India is one of the few countries that have separate courts for consumer hearings. In recent times the consumer movement has made good inroads in India. According to the latest statistics, there are more than 700 consumer groups in India. 20-25 of them are well organized and known for their work.

But the process of consumer hearings is becoming complex, expensive and lengthy. Often the consumer is unable to muster the courage to fight the case due to the high fees of the lawyers.

Consumer Protection Act, 2019

The Consumer Protection Bill, 2019 has been passed by Lok Sabha in July 2019 and by Rajya Sabha in August 2019.

Consumer Protection Act, 2019: The Consumer Protection Act, 2019 is a law to protect the interests of consumers. This act is very necessary to resolve the large number of consumer complaints pending in consumer courts across the country. It has the means and means to resolve consumer complaints expeditiously.

Objective: The basic objective of the Consumer Protection Act, 2019 is to establish effective administration and necessary authority to solve the problems of consumers in a timely manner and to protect the interests of consumers.

Definition of Consumer: A person is called a consumer who buys goods and services.

You will learn about the basic factors that cause the exploitation of customers. The first factor is the lack of awareness of the Rights. The second is inadequate handling of the rules and regulations. After reading the Chapter carefully, you will get to know about your Rights as a consumer.

Other Free CBSE Class 10 Social Science Study Material

Other Free Study CBSE Material for Class 10