Unit 4 Ch 5 : Consumer Rights — Social Studies STD 10 — Question

Why is there a great need to expand formal sector credit in India? Explain any three reasons.

Do the following two statements mean the same? Justify your answer.

1. People have different developmental goals.
2. People have conflicting developmental goals.

“Globalisation and greater competition among producers has been of advantage to consumers.” Justify the statement with examples.

Why are demand deposits considered as money?

How is money used as a medium of exchange? Explain with examples.

Describe any three duties of a consumer in the market.

Read the passage on the left and answer the questions.
Ford Motors, an American company, is one of the world’s largest automobile manufacturers with production spread over 26 countries of the world. Ford Motors came to India in 1995 and spent Rs. 1700 crore to set up a large plant near Chennai. This was done in collaboration with Mahindra and Mahindra, a major Indian manufacturer of jeeps and trucks. By the year 2004, Ford Motors was selling 27, 000 cars in the Indian markets, while 24,000 cars were exported from India to South Africa, Mexico and Brazil. The company wants to develop Ford India as a component supplying base for its other plants across the globe.
Would you say Ford Motors is a MNC? Why?

What has brought about the availability of a greater choice of goods in the market for the consumer?

How is foreign trade interlinking markets of different countries? Explain with example.

Which sector generates services rather than goods?