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CBSE Notes for Class 10 Economics

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Last updated date: 25th Apr 2024
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Notes for CBSE Class 10 History PDF Download

Class 10 Social Science has five crucial chapters based on the various concepts of Economics. These chapters are very important for the preparation of the students. To make it easier, the subject experts of Vedantu have compiled the 10th Economics Notes for revision. These notes cover all the economics topics precisely in a concise manner for better study sessions and revisions. Download these notes and prepare for an exam faster.

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.

Detailed Overview of Class 10 Social Science - Economics Revision Notes

Class:

10

Subject:

Social Science (Economics)

Number of Chapters:

5

Content Type:

Text, Videos, Images and PDF Format

Academic Year:

2024-25

Medium:

English

Available Materials:

Chapter Wise

Other Materials

  • Important Questions

  • NCERT Solutions


Importance of Quick Revision Notes for Economics Class 10

As mentioned earlier, there are five chapters included in the Class 10 Social Science syllabus based on the topics of economics. These topics focus on explaining what development means and what the definitions of credit and money are. These chapters are also based on consumer rights, globalisation and the Indian economy.


It is clear that these chapters are crucial for the completion of the syllabus and the development of economic concepts among the students. This is where the Revision Notes for Economics Class 10 will come in very handy. These notes have been designed by the experts following the latest CBSE syllabus and guidelines to cover all the topics.


The simpler version of the topics and concepts described in the notes will enable students to focus on the preparation. They can easily comprehend these topics and cover the syllabus of an exam faster.


For example, the Class 10 Economics Chapter 1 Notes can be used as the ideal revision tool once this chapter has been studied. Hence, students can utilise these notes to understand the contexts and recall what they have studied precisely during an exam.


Benefits of Class 10 Economics Notes PDF

  • The chapters have been covered individually to form separate Economics Notes for Class 10 PDF files. It means you can download the files you need conveniently from the list.

  • The files have a simpler explanation of all the fundamental principles of the chapters. They will help you to recall what you have studied before very quickly. The recollection of these topics and principles will help you precisely answer questions and score well on the exams.

  • Resolve doubts related to the chapters easily when you have these notes stored on your computer or smartphone. Find out how the experts have simplified the concepts and applied them to make this syllabus easier to prepare.


Class 10 Social Science Economics Revision Notes

The class 10 social science notes of Economics will help students prepare better for their board examinations. They are prepared by experts and are in accordance with the latest CBSE syllabus and guidelines. Class 10 SST notes are compact and precise yet detailed enough for a quick thorough revision. Students can glance through the notes for revision of the entire NCERT. Students can read these notes for a regular revision.


CBSE Class 10 Economics Notes

Class 10 Economics Chapters

The CBSE Class 10 Economics comprises five important chapters and students can access the notes of these chapters and gain a comprehensive understanding.

 

Economics Class 10 Chapter 1 - Development

The Economics Class 10 Chapter-1 will make students comprehend the topics Development and all about Developmental issues. Chapter-1 on development briefs how different kinds of people can have different developmental goals, and the perception of development for one person may not view the same for the other person. 

 

Development

This concept of development may lead to destruction for others. The chapter also provides answers to questions such as Can development lead to more equality? What should a developed or developing country be like? How should individuals live together? The essential things that are required for survival, and Can life be better for all in developing and developed countries? Students will also get a brief understanding of how different persons could have conflicting yet different notions of a country’s development.

 

Economics Class 10 Chapter 2 - Sectors of the Indian Economy

Chapter-2 briefs students on how the economy is best comprehended and how each component or sector contributes and affects the other. In this chapter, students will learn about three types of classifications of the economy- primary type of classification, a secondary type of classification, tertiary type of classification, organized or unorganized type of classification, and public or private type of classification. Economics Class 10 Chapter-2 will get students familiarized with fundamental concepts such as Employment, Gross Domestic Product, and other important concepts.

 

Economics Class 10 Chapter 3 - Money and Credit

Through the Class 10 Economics Chapter 3- Money and Credit students will acquire knowledge on the modern forms of money such as paper notes, and coins and how the modern forms are linked with the banking system. Students will also learn about credit and, based on the situations, its impact on the borrowers through two examples which help students understand how credit works- Festive Season and Swapna’s Problem. Money credit also helps students acquire elementary knowledge in terms of credit, Formal Sector Credit in India like Formal sector loans and Informal sector loans, and advantages.

 

Economics Class 10 Chapter 4 - Globalization and the Indian Economy

The globalization and the Indian Economy chapter deals with globalization and how the Integration between different countries (both developing and developed) through foreign investment and trade by multinational corporations (MNCs). The chapter also discusses the role of MNCs in the globalization process. Also, it covers the impact of globalization and the extent to which globalization can contribute to the development process. It also lays significant emphasis on the Integration of markets and Integration of production.

 

Economics Class 10 Chapter 5 - Consumer Rights

The Chapter-5 of Economics Class 10 discusses the multiple issues with consumer rights that exist within the context of the Indian market. 


Consumer Rights

The chapter Consumer Rights ensures students comprehend the awareness of being a well-informed consumer through certain factors such as active participation of people and consumer movement through the struggles established over a long period. This chapter on Consumer Rights also presents details of a few organizations that help consumers in different ways with some critical issues that are related to the consumer movement in India. The chapters describe the safety of Consumers having the right to need protection against the delivery of services and marketing of goods that can be hazardous to life and property. However, the producers need to strictly follow the required safety rules and regulations and act accordingly.



CBSE Class 10 Social Science Weightage 2024-25

Units

Units Name

Marks

I

India and the Contemporary World – II

20

II

Contemporary India – II

20

III

Democratic Politics - II

20

IV

Understanding Economic Development

20


Total

80


Related Links for CBSE Class 10 Social Science


Download Class 10 Economics Notes PDF

Perform the Class 10 Economics Notes PDF download and get the specific notes you need. Once you are done studying a chapter, refer to these notes to revise before an exam. You can also use these notes to do revision and recall the topics before giving a mock test at home. Hence, these notes will be the perfect guide to follow and comprehend the whole syllabus faster.

FAQs on CBSE Notes for Class 10 Economics

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 harbors, 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.

3. How many chapters are there in Economics Class 10?

There are five chapters in total, each with its unique content, and it is advised that students completely prepare each chapter and understand all of the concepts to do well on their examinations. For the student to perform well on his examinations, it is recommended that he completely prepare each chapter and understand all the concepts. Use Vedantu’s app to find the revision notes of Class 10 Economics.

4. Which site is best for Class 10 Social science notes?

The notes are easily available on the Vedantu site (vedantu.com). Follow the steps given below to download the Class 10 Social Science Economics Notes:

  • Visit the page Class 10 Social Science Economics Notes.

  • The webpage with Vedantu’s Class 10 Economics Notes will open.

  • To download this, click on the Download PDF button and the PDf file is downloaded free of cost. Now you can view the solutions offline.

If you need more assistance with this or any other chapter, you can always go to the Vedantu website and interact with different professors that can help you out.

5. What is development economics Class 10?

Development Economics is a field of economics that focuses on helping developing nations improve their fiscal, economic, and social situations. Development can be characterised as an increase in people's economic well-being as well as their basic requirements, such as education, health, and lifestyle. Health, education, working conditions, local and foreign policies, and market circumstances are all variables considered in development economics, to improve conditions. Economic development can easily be explained as "the process undergoing which any nation improves its people's economic, political, and social well-being".

6. How are full marks scored in SST Class 10?

A single path to success does not exist. There are crucial moments in any historical event, which is why history is a theoretical topic. Practice all the activities as well to fill in any knowledge gaps you may have. Similar approaches must be taken to study Geography, Economics and Civics as well. Social Studies as a whole is a theoretical subject and requires your full attention. Create flowcharts of central themes and figures of the important chapters to retain data accurately and precisely.

7. What are the adverse effects of the free market?

Employment and income disparity is a primary disadvantage. It is inevitable that certain members of society, such as the elderly, children and those who are unemployed will not be able to work in a free market economy. If they don't earn anything, they'll be left behind by the rest of the economy and will be forced into poverty. These could be the primary adverse effects of a free market. For study material related to Social Science Economics Class 10 students can visit the vedantu app.