Why are rules and regulations required in the marketplace? Illustrate with a few examples.
Rules and regulations are required in the marketplace to protect consumers from exploitation. Seller tries to shift all the responsibility on to the buyer. Whenever, a consumer complains against the goods or services for the bad quality or
quality sellers deny of any fraud and try to shifts all the responsibility on to the buyers. The seller tend to hold no responsibility for the goods once sold. For example, a grocery shop owner might sell expired products and then blame the customer for not checking the date of expiry before buying the items. Hence, rules and regulations are needed to safeguard the interest and rights of consumers in the marketplace.
Critically examine the progress of the consumer movement in India?
What factors gave birth to the consumer movement in India? Trace its evolution?
By what means can the consumers express their solidarity?
What is the rationale behind the enactment of Consumer Protection Act 1986?
Mention a few factors which cause the exploitation of consumers.
Mention some of the rights of consumers and write a few sentences on each?
What legal measures were taken by the government to empower the consumers in India?
Suppose you buy a bottle of honey and a biscuit packet. Which logo or mark you will have to look for and why?
Say True or False.
Explain the need for consumer consciousness by giving two examples.
Development of a country can generally be determined by
(i) its per capita income
(ii) its average literacy level
(iii) health status of its people
(iv) all the above
Fill in the blanks using the correct option given in the bracket:
(i) Employment in the service sector _________ increased to the same extent as production. (has / has not)
(ii) Workers in the _________ sector do not produce goods. (tertiary agricultural) (iii) Most of the workers in the _________ sector enjoy job security. (organised / unorganised)
(iv) A _________ proportion of labourers in India are working in the unorganised sector. (large / small)
(v) Cotton is a _________ product and cloth is a _________ product. (natural / manufactured)
(vi) The activities in primary, secondary and tertiary sectors are _________. (independent / interdependent)
In situations with high risks, credit might create further problems for the borrower. Explain?
What do you understand by globalisation? Explain in your own words.
Which of the following neighbouring countries has better performance in terms of
human development than India?
(i) Bangladesh
(ii) Sri Lanka
(iii) Nepal
(iv) Pakistan
Choose the most appropriate answer.
(a) The sectors are classified into public and private sector on the basis of:
(i) employment conditions
(ii) the nature of economic activity
(iii) ownership of enterprises
(iv) number of workers employed in the enterprise
(b) Production of a commodity, mostly through the natural process, is an activity in ______________ sector.
(i) primary
(ii) secondary
(iii) tertiary
(iv) information technology
(c) GDP is the total value of _____________ produced during a particular year.
(i) all goods and services
(ii) all final goods and services
(iii) all intermediate goods and services
(iv) all intermediate and final goods and services
(d) In terms of GDP the share of tertiary sector in 2003 is _________
(i) between 20 per cent to 30 per cent
(ii) between 30 per cent to 40 per cent
(iii) between 50 per cent to 60 per cent
(iv) 70 per cent
How does money solve the problem of double coincidence of wants? Explain with example of your own.
What was the reason for putting barriers to foreign trade and foreign investment by the Indian government? Why did it wish to remove these barriers?
Assume there are four families in a country. The average per capita income of
these families is Rs 5000. If the income of three families is Rs 4000, Rs 7000
and Rs 3000 respectively, what is the income of the fourth family?
(i) Rs 7500
(ii) Rs 3000
(iii) Rs 2000
(iv) Rs 6000
Match the following:
S/No. |
Problems faced by farming sector |
S/No. |
Some possible measures |
|
Unirrigated land |
|
Setting up agro-based mills |
|
Low prices for crops |
|
Cooperative marketing societies |
|
Debt burden |
|
Procurement of food grains by government |
|
No job in the off season |
|
Construction of canals by the government |
|
Compelled to sell their grains to the local traders soon after harvest |
|
Banks to provide credit with low interest |
Explain how public sector contributes to the economic development of a nation.
What do you understand by disguised unemployment? Explain with an example
each from the urban and rural areas.
Fill in the blanks using the correct option given in the bracket:
(i) Employment in the service sector _________ increased to the same extent as production. (has / has not)
(ii) Workers in the _________ sector do not produce goods. (tertiary agricultural) (iii) Most of the workers in the _________ sector enjoy job security. (organised / unorganised)
(iv) A _________ proportion of labourers in India are working in the unorganised sector. (large / small)
(v) Cotton is a _________ product and cloth is a _________ product. (natural / manufactured)
(vi) The activities in primary, secondary and tertiary sectors are _________. (independent / interdependent)
What is the basic idea behind the SHGs for the poor? Explain in your own words.
How do banks mediate between those who have surplus money and those who need money?
Look at a 10 rupee note. What is written on top? Can you explain this statement?
“Reserve Bank of India” and “Guaranteed by the Government” are written on top.
The following tables gives the GDP in Rupees (Crores) by the three sectors:
Year |
Primary |
Secondary |
Tertiary |
1950 |
80,000 |
19,000 |
39,000 |
2000 |
3,14,000 |
2,80,000 |
5,55,000 |
i. Calculate the share of the three sectors in GDP for 1950 and 2000.
ii. Show the data as a bar diagram similar to Graph 2 in the chapter.
iii. What conclusions can we draw from the bar graph?
How does money solve the problem of double coincidence of wants? Explain with example of your own.
“The Earth has enough resources to meet the needs of all but not enough to
satisfy the greed of even one person”. How is this statement relevant to the
disscusion of development? Discuss.
Service sector in India employs two different kinds of people. Who are these?