Unit 2 Ch 7 : Lifelines of National Economy — Social Studies STD 10 — Question

Railway in India has been in existence from which year?

‘The Rupee is widely accepted as a medium of exchange’. Explain.

Why was the necessity of decentralisation recognised?
OR
Do you take decentralisation as means to minimise the conflicts? Give your viewpoint.

What condition may allow women to take up a variety of jobs or run business?

Why do we expect a lot from a democratic government?

An ideal federal system has two important objectives. Explain.

Dhananjay is a government employee and belongs to a rich household whereas Raju is a construction worker and comes from a poor rural household. Both are in need and wish to take loan. Create a list of arguments explaining who between the two would successfully be able to arrange money from a formal source. Why?

On what factors does the country’s economic development depend?

Which sector generates services rather than goods?

Ravi did not expect that he would have to face a crisis in such a short period of his life as industrialist. Ravi took a loan from the bank to start his own company producing capacitors in 1992 in Hosur, an industrial town in Tamil Nadu. Capacitors are used in many electronic home appliances including tube lights, television etc. Within three years, he was able to expand production and had 20 workers working under him.
His struggle to run his company started when the government removed restrictions on imports of capacitors as per its agreement at WTO in 2001. His main clients, the television companies, used to buy different components including capacitors in bulk for the manufacture of television sets. However, competition from the MNC brands forced the Indian television companies to move into assembling activities for MNCs. Even when some of them bought capacitors, they would prefer to import as the price of the imported item was half the price charged by people like Ravi.
Ravi now produces less than half the capacitors that he produced in the year 2000 and has only seven workers working for him. Many of Ravi’s friends in the same business in Hyderabad and Chennai have closed their units.
What are the ways in which Ravi’s small production unit was affected by rising competition?