Class 10 Economics Notes CBSE

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Notes for CBSE Class 10 History PDF Download

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CBSE Class 10 Economics is an essential and brilliant part of the Social Science subject. The Class 10 Economics Chapters explain to students all the essential topics and concepts in the form of stories by correlating each tale to a real-life example. The Economics Notes imparts students with knowledge on concepts such as education, health, per capita income, food, and more, as factors that determine the development of the country. The Economics Class 10 Notes gives a thorough explanation about topics like trade, opportunities for employment, globalisation, distribution of resources, and other factors that contribute to the financial stability of the country. A few other important topics are explained thoroughly in a comprehensive manner.

FAQ (Frequently Asked Questions)

1. Enlist the various factors that have Enabled globalisation.

Two crucial factors enabled globalisation- 

Technology: Due to rapid improvement, technology has been the most significant factor that stimulates the process of globalisation. Globalisation has led to the fast delivery of goods and products across long-distance journeys at affordable prices. The development in the field of communication and information technology has made information instantly accessible.

The liberalisation of Foreign Investment Policy and Foreign Trade: Trades barriers are the most significant restrictions set up by the Government of India. The Government can utilize trade barriers to regulate foreign trades and decide the kind of goods and how much tax each country can generate. The removal of trade barriers leads to liberalisation, and when the Government imposes fewer restrictions, it can be liberal.

2. State the various primary responsibilities of the Government.

A few of the essential and primary responsibilities of the Government are as follows-

Governments can undertake heavy spendings such as the construction of harbours, roads, railways, bridges, generate electricity, and provide irrigation through dams, and more. The Government also ensures that these facilities are available for everyone.

Another significant responsibility of the Government is to run proper schooling and present good-quality education, well-structured health, and education facilities.

The Government should support certain activities to encourage the private sector so that they continue their production or business.

Another major factor is that the Government should raise enough money through taxation and several other means to meet the expenses on the services rendered by it. 

The Indian Government should also buy rice and wheat from farmers at a fair price and then sell these at a lower and affordable price to consumers through ration shops to support both farmers and consumers.