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Unit 4 Ch 3 : Money and Credit — Social Studies STD 10 — Question

CBSE BoardEnglish MediumSTD 10Social StudiesUnit 4 Ch 3 : Money and Credit4 Marks
Question
Read the source given below and answer the following questions:
Swapna, a small farmer, grows groundnut on her three acres of land. She takes a loan from the moneylender to meet the expenses of cultivation, hoping that her harvest would help repay the loan. Midway through the season, the crop is hit by pests and the crop fails. Though Swapna sprays her crops with expensive pesticides, it makes little difference. She is unable to repay the moneylender, and the debt grows over the year into a large amount. Next year, Swapna takes a fresh loan for cultivation. It is a normal crop this year. But the earnings are not enough to cover the old loan. She is caught in debt. She has to sell a part of the land to pay off the debt.
Answer the following MCQs by choosing the most appropriate option
  1. The passage given above relates to which of the following options:
  1. Collateral Credit.
  2. Credit recovery is very painful.
  3. Failure of Crops.
  4. Credit is somewhere beneficial.
  1. According to the passage, Swapna faced which of the following options:
  1. The crop is hit by pests and the crop fails.
  2. She had to sell a part of the land to pay off the debt.
  3. Credit left her worse off.
  4. All of these.
  1. It refers to an agreement in which the lender supplies the borrower with money, goods or services in return for the promise of future payment:
  1. Terms and Credit.
  2. Credit.
  3. Depositor.
  4. Borrower.
  1. The above passage is an example of:
  1. Collateral.
  2. Debt Trap.
  3. Credit plays a vital and positive role.
  4. None of these.
✓

Answer

(i)
(a)
Collateral Credit.
(ii)
(d)
All of these.
(iii)
(a)
Terms and Credit.
(iv)
(b)
Debt Trap.

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Read the text given below and answer the following questions.
Manufacturing industries not only help in modernising agriculture, which forms the backbone of our economy, they also reduce the heavy dependence of people on agricultural income by providing them jobs in secondary and tertiary sectors. Industrial development is a precondition for eradication ofunemployment and poverty from our country. This was the main philosophy behind public sector industries and joint sector ventures in India. It was also aimed at bringing down regional disparities by establishing industries in tribal and backward areas. Export of manufactured goods expands trade and commerce, and brings in much needed foreign exchange. Countries that transform their raw materials into a wide variety of finished goods of higher value are prosperous. India's prosperity lies in increasing and diversifying its manufacturing industries as quickly as possible. Agriculture and industry are not exclusive of each other. They move hand in hand. For instance, the agro-Industries in India have given a major boost to agriculture by raising its productivity.
Answer the following MCQs by choosing the most appropriate option:
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  2. Secondary, tertiary sector.
  3. Primary, tertiary sector.
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Jobs created or promoted by manufacturing industries
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Research and development
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CRUDE OIL RESERVES
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Number of Years Reserves will last
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  2. 60 years
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  2. 16 times
  3. 14 times
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Read the source given below and answer the questions that follow :
Exhaustion of Natural Resources Look at the following data for crude oil:
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(Thousand Million Barrels)		Number of Years Reserves
will last
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United States of America5010.5
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Read the case given below and answer the questions that follow:

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Read the extract given below and answer the questions that follow:
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This sector 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. Jobs here are low-paid and often not regular. There is no provision for overtime, paid leave, holidays, leave due to sickness etc. Employment is not secure. People can be asked to leave without any reason. When there is less work, such as during some seasons, some people may be asked to leave. A lot also depends on the whims of the employer. This sector includes a large number of people who are employed on their own doing small jobs such as selling on the street or doing repair work. Similarly, farmers work on their own and hire labourers as and when they require:
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  1. Private sector.
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  3. Organised sector.
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  2. Workers in organised sector enjoy security of employment.
  3. Organised sector covers those places of work where the terms of employment are regular.
  4. Workers in the organised sector expected to work only a fixed number of hours.
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  3. (2), (3) and (4) are incorrect.
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  2. Public sector and private sector.
  3. Primary, secondary and tertiary sector.
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  2. These activities help in the development of the primary and secondary sectors.
  3. These activities are an aid or support for the production process.
  4. These activities generate goods rather than services.
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Read the extract given below and answer the questions that follow:
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  3. Body mean index.
  4. Body mass index.
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