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CBSE Class 10 Social Science Board Exam 2020: Check Important Questions & Answers of Economics- All Chapters

  Check this list of Chapter-Wise Important Questions & Answers from Class 10th Economics part of Social Science Paper that will help you in quick revision for CBSE Class 10th Board Exams 2020.

Mar 9, 2020 10:52 IST
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Important Questions & Answers of Economics
Important Questions & Answers of Economics

CBSE Class 10th Social Science Board Exam 2020 is scheduled for 18th March. to make your rvision stress free we have compiled a list of Chapter-wise important Questions and Answers that will help you in the revision. 

Chapter 1 : Development

Ques 1 Mohit is 28 years of age, has 65 kg of body weight and is 1.4 meters tall. Calculate his BMI. Find out whether he is under nourished or over weight. Why?

Solution His BMI is 33.16 He is over weight Because his BMI is more than 25

Ques 2 ‘Sustainable Development is a crucial step for the development of a country’. Explain with 3 suitable examples

Solution: Sustainable development is crucial for development of a country as it:

i. Promotes use of renewable resources like solar energy, tidal energy, etc

ii. Puts a check on over usage of resources

iii. Promotes protection and conservation of resources for future generation

Ques 3 Which of the following statement defines Sustainable Development?

A. Sustainable use of natural resources without considering the need of the future generation.

B. Present generation fulfils its needs while considering the needs of the future generation as well.

C. It means utilization of natural resources by the past, present and forthcoming future generation.

D. To meets the needs of the future generations even if the needs of the present generation go unmet.

Solution: B. Present generation fulfils its needs while considering the needs of the future generation as well.

Ques 4 One of the best ways to reduce over usage of ground water is ____________________________.

Solution: Implementation of stringent policies to control misuse of water

Ques 5 The total number of children of age group 14 and 15 years attending school as a percentage of total number of children in the same age group is referred as __________________________. 

Solution Net Attendance Ratio

For more Important Questions & Answers from Chapter 1 - Click Here!

Class 10 Social Science Board Exam 2020: Check MCQs from Chapter 1 of Economics (Development)

Chapter 2 : Sectors of the Indian Economy

Ques 1 Arrange the following in the correct sequence –

1. Transporting cloth to the workshops

2. Sale in shops and showrooms

3. Spinning the yarn

4. Weaving of the fabric

Options –

A. i--iv--iii--ii

B. iii –iv—i--ii

C. iv—i--ii--iii

D. iii—iv--ii--i

Solution: B. iii –iv—i--ii

Ques 2 Underemployment continues to be rampant in the rural areas. Suggest any three ways through which employment for rural people can be generated.

Solution: Employment generation

i. People can be employed in projects like construction of dam/canal/ roads in the village.

ii. Government invests and employ people in providing transportation and storage services.

iii. People can be employed in services like banking, trade, etc. Iv. Government can identify, promote industries and services in semi-rural areas to enhance employment.

iv. Government can open centres to give them training and financial assistance to help them become self – employed

Ques 3 Which of the following profession belongs to the Tertiary Sector of economy?

A. Fisherman

B. Farmer

C. Factory worker

D. Teacher

Solution: D- Teacher

Ques 4 Show how tertiary sector has emerged as the largest producing sector in India.

Solution: i. Basic services like hospitals, educational institutions, defence, and transport are the part of tertiary sector.

ii. Development of agriculture and industry leads to the development of services

iii. As the income level rises, tourism, shopping, private schools and professional training also expands. People start demanding more services this leads to the expansion of the tertiary sector.

iv. Information and communication technology also play an important role in this expansion. v. Large number of workers are engaged in this sector, as the demand for services grow.

Ques 5 Rohan works in a bank as a clerk while Sumit works on a construction site as a labourer. Describe difference in their conditions of work and judge the benefits and drawbacks of working in the respective sectors.

Solution: Rohan works in an organised sector; he will enjoy security of employment. He will be expected to work only a fixed number of hours. If he works more, he will have to be paid overtime by the employer. He will also get several other benefits from the employers like getting paid leave, payment during holidays, provident fund, gratuity etc. He is supposed to get medical benefits and, under the laws, the bank manager has to ensure facilities like drinking water and a safe working environment. When he will retire, he will get pension as well.

In contrast, Sumit works in the unorganised sector which is characterised by small and scattered units which are largely outside the control of the government. There are rules and regulations but these are not followed.

So, his job will be low-paid and often not regular. There will be no provision for overtime, paid leave, holidays, leave due to sickness etc. Employment is not secure. He can be asked to leave without any reason when there is less work, such as, during some seasons. A lot also depends on the whims of his employer.

For more Important Questions from Chapter 2 - Click here!

Check Important MCQs from Chapter 2 of Economics (Sectors of the Economy)

Chapter 3 : Money & Credit

Ques 1 Identify the condition when both the parties in a barter economy have to agree to sell and buy each other‟s commodities? What is it called?

Solution: double coincidence of wants.

Ques 2 Amrita is a government employee and belongs to a rich urban household whereas Rani works as a helper on a construction site and comes from a poor rural household. Both have a crisis at home and wish to take loan. Create a list of arguments explaining who between the two would successfully be able to get the loan from a formal source. Why?

Solution: Amrita would successfully get the loan from a formal source because –

Can do the documentation required

Can fulfil the terms of credit

Bank can be assured of repayment of loan by her through EMIs from her salary

Ques 3 Why is money called a medium of exchange?

Solution: Money acts as an intermediate in the exchange process.

Ques 4 Why are formal sources of credit preferred over the informal source of credit? Give three reasons.  

Solution: Formal sources of credit preferred over Informal sources of credit because:

- Formal sources have low cost of borrowing

- Higher Income through cheap borrowing

- No exploitation and debt trap.

- Any other relevant point

Ques 5 Why do we need to expand formal sources of credit in India? Explain.

Solution: Expand formal sources

- To save people from the exploitation of Informal sector

- Formal charge a low interest on loans.

- To save from debt trap.

- It provides cheap and affordable credit.

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 business and traders.

For more important questions from Chapter 3 - Click Here

Class 10 Social Science: Check Important Questions & Answers of Geography - All Chapters

Chapter 4 : Globalosation and the Indian Economy

Ques 1 Critically examine the impact of globalization in India.

Solution: Impact of Globalization in India:

1. Stiff competition for local producers and manufacturers.

2. No job security

3. Workers are denied their fair share of benefit

4. Long working hours and low wages to the worker.

5. Expansion of unorganized sector.

6. New opportunities for IT sector

7. Increase in investment and foreign trade

Ques 2 Evaluate the role of MNCs in the economic development of a country

Solution: Role of MNCs in the economic development:

- MNCs place order for production with small producers

- MNCs are setting up partnerships with local companies.

- They are interlinking markets all over the world.

Ques 3 The MNC’s of a country sets up a production jointly with the local company of other country. State any one benefit of this joint production to the local company

Solution: Benefits of Joint Production:

  1. MNC can provide money for additional investment.
  2. MNC might bring latest technology for production.

Ques 4 How can the government ensure that globalisation is fair and its benefits are shared in a better way by all?

Solution: a. Government’s policies must protect the interests, not only of the rich and the powerful, but all the people in the country. It should ensure that the labour laws are properly implemented and the workers get their rights.

b. It can support small producers to improve their performance till the time they become strong enough to compete. If necessary, the government can use trade and investment barriers.

c. It can negotiate at the WTO for ‘fairer rules’. It can also align with other developing countries with similar interests to fight against the domination of developed countries in the WTO.

Ques 5 A group of companies in India wishes to import high quality ACs from South Korea but have to pay a huge import tax on them which would make the ACs very expensive leading to a decline their sale. Ascertain the role of the import tax in this situation.

Solution: The Import tax is acting as a Trade Barrier.

CBSE Class 10 Social Science Question Paper 2019

Chapter 5 : Consumer Rights

Ques 1 Sania buys a packet of biscuits and finds detail about ingredients used, price, batch number etc. printed on it except the expiry date. Under which right of the consumers she can claim to know this information from the manufacturer?

Solution: Consumers’ right to be informed about the particulars of goods and services that they purchase

Ques 2 “Consumer movement can be effective only with the consumer’s active involvement.” Keeping the statement in mind highlight the ways through which consumers can express their solidarity.

Solution: i. Right to the consumers – Right to information, Right to choose, Right to seek redressal, Right to represent and right to be heard.

ii. COPRA – a three tier judicial machinery

iii. Consumer forums

Ques 3 Suppose you buy a bag of cement for the purpose of repair work in your house, which logo or mark will you look for?

Solution ISI

Class 10 Social Science: Check Important Questions & Answers of History - All Chapters

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