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

What is national development? What are the aspects covered under the national development?

Describe the vital and positive role of credit with examples.

The agriculture sector in India employs the largest number of people, but its contribution to national income is the lowest. Why?

State any two factors that have helped in the process of globalisation.

Read the sources given below and answer the questions that follow.

Source A- Production across countries:

Until the middle of the twentieth century, production was largely organised within countries. What crossed the boundaries of these countries were raw material, food stuff and finished products. Colonies such as India exported raw materials and food stuff and imported finished goods. Trade was the main channel connecting distant countries. This was before large companies called multinational corporations (MNCs) emerged on the scene.

Source B- Foreign trade and integration of markets:

Foreign trade creates an opportunity for the producers to reach beyond the domestic markets, i.e., markets of their own countries. Producers can sell their produce not only in markets located within the country but can also compete in markets located in other countries of the world. Similarly, for the buyers, import of goods produced in another country is one way of expanding the choice of goods beyond what is domestically produced.

Source C- Impact of globalisation in India:

Globalisation and greater competition among producers - both local and foreign producers - has been of advantage to consumers, particularly the well-off sections in the urban areas. There is greater choice before these consumers who now enjoy improved quality and lower prices for several products. As a result, these people today, enjoy much higher standards of living than was possible earlier.

Questions:

1. How are MNCs a major force in connecting the countries of the world? (Source A - Production across countries).
2. How does foreign trade become a main channel in connecting countries? (Source B - Foreign trade and integration of markets).
3. How is globalisation beneficial for consumers? (Source C - Impact of globalisation in India).

What are the terms of credit?

Describe any five provisions of National Rural Employment Guarantee Act 2005.

How are deposits with the bank beneficial for individual as well as for the nation? Explain with examples.

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.
By setting up their production plants in India, MNCs such as Ford Motors tap the advantage not only of the large markets that countries such as India provide, but also the lower costs of production. Explain the statement.

What are the various ways to provide employment opportunities in rural areas