10th Indian Economy

INDIAN ECONOMY AFTER INDEPENDENCE

I. CHOOSE THE CORRECT ANSWER:

1. Five Year plan in India was borrowed from Soviet Russia

2. Eleventh Five Year Plan Period is 2007-2012

3. Chairman of Planning commission of India is Prime Minister of India

4. Planning Commission of India was setup in the year 1950

5. Nehru decided that India would be a Mixed Economy

6. Green Revolution was introduced in the year 1967

7. Bhoodan Movement was started by Acharya Vinobhabhave

8. Which year has a special significance in Indian Economy? 1991

9. The organization which is responsible for research and development in the area of Satellite and Communication is ISRO

10. As per 2001 census the literacy rate in India is 64.8%

II. Short answer:

1. Write any three objectives of Eleventh Five year plan.

Objectives of Eleventh Five year plan

  • To reduce the subsidies in power, fertilizer.
  • Promoting agricultural research.
  • To ensure environmental protection.
  • Larger employment opportunities.
  • To develop rural infrastructure.

2. Write a note on Green Revolution.

Green Revolution

Green revolution was introduced in the year 1967.

The Indian Council of Agricultural Research (ICAR) introduced high Yielding Variety (HYV) seeds

Increase the agricultural production with improved irrigation facilities.

3. What is Mixed Economy?

Mixed economy in which public and private sectors would co exists.

4. What is Multi National Corporation?

Multi-National Corporations (MNC) are business firms operating in several countries but centrally managed from one (home) country.

5. Write a note on cottage Industries.

Cottage industries are household industries depending on local market and production is of primitive methods. Example: – Coir industries.

6. Write a note on Liberalization

Liberalization means movement towards a free market system.

Withdrawal of regulation and restrictions.

Private sectors are encouraged to enter into core industries.

7. What is Privatization?

Privatization means transforming all economic activities from public sector to private sector. It refers to the setting up of private units in public utility services.

8. What do you mean by Globalization?

Globalization means country draw raw materials from any source of the world and manufacture goods and services. Finished goods find a place in global market is the linkage of nation’s markets with global markets.

III. Detail:

1. Write down the Objectives of Eleventh Five year plan.

Objectives Eleventh Five Year Plan (2007-2012):-

Increasing the public investment in irrigation, rural electrification and rural roads.

  • To reduce the subsidies in power, fertilizer.
  • Promoting agricultural research.
  • To ensure environmental protection.
  • Larger employment opportunities.
  • To develop rural infrastructure.
  • To abolish poverty.
  • To reduce the dropout rate in primary schools

2. Explain Green Revolution.

  • Green revolution was introduced in the year 1967.
  • The Indian Council of Agricultural Research (ICAR) introduced high Yielding Variety (HYV) seeds to increase the agricultural production with improved irrigation facilities.

Land Reforms:-

  • The government initiated land reform measures like land ceiling and tenancy legislation.
  • The Bhoodhan movement started by Vinobhavbhave deserves a mention.
  • Through the Bhoodhan movement millions of acres of land were received from the landlords and distributed to the landless poor.

High Yielding Variety seeds program:-

  • The green revolution largely means increasing production by the use of High Yielding Variety seeds.
  • This enabled India to achieve self-sufficiency in food grain production.
  • The credit goes to Indian Council of Agriculture Research in India particularly Ludhiana, Pantnagar (UP) and Coimbatore.

3. Explain Economic Reforms of 1991.

Economic Reforms of 1991:-

  • The year 1991 has a special significance in the Indian economy.
  • The economic reforms aimed at rapid industrialization.

Multi-National Corporations (MNC):-

  • Multi-National corporations (MNC) are business firms operating in several countries but centrally managed from one (home) country.

Cottage industries:-

  • Cottage industries are household industries depending on local market and production is of primitive methods. Example: – Coir industries.

Liberalization:-

  • Liberalization means movement towards a free market system.
  • Withdrawal of regulation and restrictions.
  • Private sectors are encouraged to enter into core industries.

Privatization:-

  • Privatization means transforming all economic activities from public sector to private sector. It refers to the setting up of private units in public utility services.

Globalization:-

  • Globalization means country draw raw materials from any source of the world and manufacture goods and services. Finished goods find a place in global market is the linkage of nation’s markets with global markets.

4. Explain the various Power Programs in Tamil Nadu

The important power stations in Tamil nadu are listed below:-

Thermal power:-

Thermal power stations are in Ennore, Tuticorin, Mettur, Basin Bridge and Neyveli.

Hydel power:-

Hydel power stations are in Mettur, Kundah, Periyar Dam, Kothayar Dam, Pykara, Singara and Moyar.

Atomic Energy:-

Atomic power stations are in Kalpakkam and Koodangulam.

Wind Energy:-

It is a non-conventional form of energy. The wind mills are situated in Coimbatore, Kanyakumari, Tuticorin, Ramanathapuram and Tirunelveli.

Biomass Energy:-

This is another kind of non-conventional energy. This kind of electricity is produced in Namakkal and Dharmapuri Districts.

10th Indian Economy

National Income

I. Choose the correct answer:

1. National Income is otherwise called Gross National Product

2. National income of a country can be calculated by 3 methods

3. Net National Product = GNP – Depreciation

4. India’s Per capita income is 950 dollars

5. Primary sector consists of Agriculture

6. National Income is a measure of Total value of goods & services

7. Expenditure method estimates national income from the Savings side

8. Income method sums all forms of Income

9. Percapita Income is an indicator of Living Standard of people

10. Primary sector contribution to national income in India is 15.8%

II. Write short notes on the following:

1. Define National income.

Definition of National Income

“National Income is a measure of the total value of goods and services produced by an economy over a period of time, normally a year”. Commonly National Income is called as Gross National Product or National Dividend.

2. How you arrive at NNP?

Net National Product (NNP)

Net National Product is arrived by making some adjustment with regard to depreciation. That is we arrive the NNP by deducting the value of depreciation from Gross National Products (GNP)

NNP= GNP (-) Depreciation

3. Write a note on Income method.

In this method, the Income and Payments received by all the people in the country are calculated.

4. What is Percapita Income?

Percapita Income (PCI)

Percapita Income is an indicator to show the living standard of people in a country.

It is obtained by dividing the national income by the population of a country.

Percapita Income = National Income / Population

5. Write any two needs for the study of National Income

Need for the study of National Income:-

  • To measure the size of the economy and economic performance.
  • To measure the production of goods and services.
  • To trace the trend of the economic growth of our country in relation other countries.

6. What is tertiary sector?

Tertiary sector is service sector

Tertiary sector includes trade, hotel, industry, transport, storage, communication, finance, insurance, real estate and social services.

7. What is Laissez – faire?

Laissez-faire means non-intervention by the government.

The government was more or less a police state.

Government functions catering to the needs of the people.

8. Write a note on the Protective functions of modern welfare state.

Protective functions:-

  • Economic development can be achieved only if there is peace in the state.
  • Government is to maintain law and order.
  • Protecting the people from external aggression and internal disorder.

9. Define Gross Domestic Product.

Gross Domestic Product (GDP)

Gross Domestic Product is the total value of output (goods and services) produced by the factors of production within the geographical boundaries of the country.

10. What is net Domestic Product?

Net Domestic Product (NDP)

Net Domestic Product is part of Gross Domestic product. Net Domestic Product is obtained from the Gross Domestic Product by deducting the quantum of tear and wear expenses (depreciation).

III. Write in a paragraph:

1. Explain two basic concepts of National Income.

Net National Product (NNP):-

Net National Product is arrived by making some adjustment with regard to depreciation. That is, we arrive NNP by deducting the value of depreciation from Gross Domestic Product.

NNP = GNP (-) Depreciation

Gross Domestic Product (GDP):-

Gross Domestic Product is the total value of output (goods and services) produced by the factor of production within the geographical boundaries of the country.

Percapita Income (PCI):-

Percapita Income is an indicator to show the living standard of people in a country.

It is obtained by dividing the National Income by the population of a country.

Percapita Income = National Income/Population

2. Explain the need for the study of National Income.

Need for the study of National Income:-

  • To measure the size of the economy and economic performance.
  • To measure the production of goods and services .
  • To trace the trend of the economic growth of our country in relation other countries.
  • To know the contribution of primary, secondary and tertiary sector in the National Income.
  • To help Government, to formulate development plans and policies to increase economic growth.

3. Explain the methods of calculating National Income.

Method of calculating National Income:-

Product method:-

In this method the total value of all goods and services produced in a country is taken into account.

Income method:-

In this method, the income and payments received by all the people in the country are calculated.

Expenditure method:-

In this method we add up the expenditure of all people on consumer goods, investment and saving.

4 Write about the Functions of Modern Welfare State.

Functions of Modern welfare state:-

Protective functions:-

Economic development can be achieved only if there is peace in the state.

Government is to maintain law and order.

Protecting the people from external aggression and internal disorder.

The Administrative functions:-

The three important wings of the state are legislature, Executive and Judiciary.

Social Security functions:-

The government undertakes social security measures by offering relief to the poor, sick and the unemployed.

Economic functions:-

The government takes various measures to improve agriculture and develop trade and industry.

9th Geography

TAMIL NADU – POPULATION

I. Choose the best answer

1. Kanyakumari has the highest percent of literate in the state.

2. The district which has the lowest density population is Sivagangai.

3. Population in Tamil Nadu has doubled over a period of fifty years from 1951 to 2001.

4. Mountainous region with steep slopes and forest covers supports small population.

II. Match the following

1. The annual growth rate – 1.1%

2. Rural population – 56%

3. Literacy percentage in Tamil Nadu – 73.5%

4. Hindus – 88%

5. Urban population – 44%

III. BRIEF

1. What are the factors that influence the distribution of population?

  • Plains with suitable climate support a huge population.
  • Coastal plains with mild temperatures and good opportunities for economic activities support huge population.
  • Job opportunities in large towns and cities attract both literates as well as illiterates.
  • Dry regions generally support a small population.

2. What are self help groups?

A self Help Group is a group of women, organized for eradication of poverty. They agree to save regularly and convert their savings into a common fund.

3. Give reasons for considering people as reasons.

People are considered as resources because of their ability to change available natural resources into value added products

4. What is birth rate?

BIRTH RATE:

The crude birth rate is the annual number of live births per 1000 people.

5. What are the aims of human resources of human resources management?

It aims at developing person qualities in an individual so that he or she may contribute in a healthier manner for the national and world peace.

6. List the qualities to be developed to be developed by each individual by each individual to live and let others live peacefully.

  • Education
  • Health care
  • Creativity
  • Decision making.

V. ANSWER IN DETAIL

1. Write about the strategies adopted by the government of Tamil Nadu for women empowerment.

Women empowerment includes

  • Women’s senses of self worth;
  • Right to seek and decide upon choices;
  • Right to have access to opportunities and resources;
  • Right to have control on their lives, both within and outside of their homes.

2. Describe about the distribution of population in Tamil Nadu?

Chennai possesses the largest share of 6.96% of the total population of Tamil Nadu.

This is followed by Coimbatore, Vellore and Salem districts.

Perambalur has the least population of 0.069%.

9th Geography

TAMIL NADU – TRADE

I. CHOOSE THE CORRECT ANSWER:

1. Primitive method of trade was known as barter system.

2. Trade decides the economic growth of a country.

3. In Tamil Nadu domestic trade is effectively handled between districts.

4. Virudhunagar district exports crackers.

II. MATCH THE FOLLOWING:

1. Exports Software
2. Imports Machinery
3. Tidel park Chennai
4. Tansilk Kanchipuram
5. First uzhvar sandhai Madhurai

III. BRIEF:

1. Define Trade?

An Exchange of Goods and commodities either within the country or between the countries.

2. Name some of the imports of Tamilnadu?

  • Mineral fuel and mineral oil.
  • Organic chemicals.
  • Plastic articles.

3. Distinguish between Import and Export?

EXPORT IMPORT
Export refer to goods and services sold for foreign currency. Imports are goods and services bought from overseas producers.
Ex.Textile goods, drugs and pharmaceuticals, chemicals Ex. Organic chemicals, plastics articles

4. Differentiate internal from international trade.

Internal trade:

Trade carried on within the domestic territory of a country is termed as internal trade

International trade:

Trade between two or more than two countries is termed as international trade.

IV. PARAGRAPH:

1. Why trade is called an engine of growth?

  • It helps in the flow of commodities.
  • It generates dynamic change in the export front.
  • Trade increases technology transfer from one country to another.
  • It improves the welfare of the workers.
  • It helps to increase the total production of a country.

2. Write a paragraph about UZHAVAR SANDHAI?

  • This scheme was initiated for direct selling of fruits & vegetables at fair price.
  • First Uzhavar sandhai was started at Madurai in 1999.
  • There are 103 Uzhavar sandhais in the state.
  • Every day on an average 1609 MT of fruits and vegetables worth of 191.77 lakhs are sold.
  • Consumers were benefitted through uzhavar sandhai.
9th Indian Economy

EQUILIBRIUM PRICE

I.CHOOSE THE CORRECT ANSWER:

1. Equilibrium price equalizes demand and supply.

2. Supply is constant in very short period.

II.WRITE A SHORT NOTE:

1. Equilibrium price.

There is only one price at which the preferences of seller and buyer meet together.

At a particular price, the quantity demanded and a quantity supplied will become equal.

At this price quantity bought and quantity sold will be equal.

2. Short periods

During the short period, supply can be altered to some extent only.

Supply cannot be fully altered to the demand changes.

Raising demand increases the price lightly and a falling demand decreases the price slightly.

IV.WRITE IN A PARAGRAPH:

1. How is the equilibrium price determine?

  • It is clear from the table given below that demand decreases and supply increases when the price rises.
  • At this price the quantity bought (demand) and the quantity sold ( supply) will be equal.
  • This price equalizes the demand and supply
Price(in Rs) Demand(in kilos) Supply(in kilos)
20 5 1
40 4 2
60 3 3
80 2 4
100 1 5
  • When the price of mangoes is Rs.20 per kg, demand is 5 kg and the supply is 1 kg.
  • When the price raises to Rs 40, 60, 80, 100 and the demand decreases to 4, 3, 2, 1 kg and the supply raises to 2, 3, 4, 5 kg.
  • At a particular price the demand and supply are equal that is 3 kg.
  • This price is called equilibrium price and the quantity is called equilibrium quantity.
9th Geography

TRANSPORT AND COMMUNICATIONS

I. CHOOSE THE CORRECT ANSWER:

1. Postal and telegraph services belongs to personal communication.

2. Transport system acts as arteries and veins for national Development.

3 .The east coast road is built along the coast of Bay of Bengal.

4. The largest terrestrial network in the world is Doordharshan.

5. Minor ports are known as Anchorage ports.

II. MATCH THE FOLLOWING:

1.Golden quadrilateral – national highways

2.Cuddalore –minor port

3.GPS – location of place

4.Magazine –print media

5.Uninor –private telecom

III. ANSWER IN BRIEF:

1. Name the different types of roads found in Tamilnadu.

Roadways may be classified into four types. They are

  1. National highways
  2. State highways
  3. District roads and
  4. Village roads

2. Name some of the private telecom services

The private, basic telecom services are bharathi Infotel, TATA, reliance, Airtel, Aircel, Vodafone, Uninor

3. Name the three ports of Tamilnadu.

The three major ports of Tamilnadu are

  1. Chennai
  2. Tuticorin
  3. Ennore

4. What are the two types of communication. Give example

Personal communication and Mass communication

Ex: telegram, telephone, internets, email and fax

Print media

Ex: books, journals, magazines and newspapers

Electronic media

Ex: telecommunications, mobile phone etc.

5. What are minor ports? Give example.

Minor ports are anchorage ports where cargo is transshipped from the vessel to the shore.

Cuddalore, Nagapattinam, Kolachal and Rameswaram

6.Name the major international airports of Tamil Nadu.

The major international airports are

Chennai

Coimbatore

Tiruchirapalli

7. Expand STD

Subscriber Trunk Dialing

8. Distinguish between internet and intranet

INTERNET:

The internet can be accessed by each and every individual from any part of the world.

INTRANET:

An intranet is a private computer network that can only be accessed within a company through their internal network.

IV.GIVE PARAGRAPH ANSWER:

1. Account the advantages of communication technology.

It plays a vital part not only in personal life but also important role in business and education through satellites.

People can send and receive mails using e-mails to get information.

Shopping via internet is trend nowadays.

Online payment of phone bills, electricity bills and ticket booking can also be done.

Communication technology has also developed that even remote villages

Ex: GPRS and GPS

2. What are the recent prospective development made in road transport

Conversion of single lane of State Highways into double lane and multilane.

The widening and improvement of road is referred as IT Expressway that serves as connectivity to all IT companies.

The East Coast Road(ECR) that is built along Chennai and Cuddalore via Pondicherry.

Golden Quadrilateral Project in Tamil Nadu has been completed.

Most of the mofussil traffic have been diverted on to the bye pass roads to avoid traffic.

9th Indian Economy

TAMILNADU – MANUFACTURING INDUSTRIES

I.CHOOSE THE CORRECT ANSWER:

1. Tamilnadu newsprint paper limited (TNPL) is public sector industry in Tamilnadu.

2.The by-product Bagasse is used as a raw material for paper industry.

3.SPIC is the largest producer of fertilizers in India.

4.Cottage industry is one where in very little investment is involved.

5.Kancheepuram silk in its quality and is known for its traditional value all over the world.

II.MATCH THE FOLLOWING:

1. Chennai  Detroit of southern asia
2. Sivakasi  Little Japan
3. Perambur  Integral coach factory
4 .Karur  Textile capital of Tamilnadu
5. Coimbatore  The Manchester of south India

IV.ANSWER IN BRIEF:

1. How are industries classified?

Industries are classified on the basis of

a) Raw materials

b) Ownership

c) Capital involved and

d) Product

2. What are the factors determining the location of industries in Tamil Nadu?

  1. Raw materials
  2. Energy
  3. Capital
  4. Labour
  5. Transport and
  6. Market

3. Name the products and by-products of sugar industry?

Jaggery, kandasari and sugar are the products from the sugar industry.

4. List down the raw materials for paper industry?

The by-product bagasse is used as a raw material for paper industry.

5. What do you mean by consumer goods?

Consumer goods are those goods, which reach the consumers straight from the production unit. All perishable goods like food products and dairy products are examples of consumer goods.

6. Write a short note on Cottage Industry?

Cottage Industry is one wherein very little investment is involved. Locally available raw materials are used to produce the handicrafts. Volume of production and cost of production are low.

7. Give reasons for the widespread distribution of textile industry in Tamil Nadu.

Tropical Climate, availability of raw materials, demand for cotton in market, power supply from numerous power projects and abundant cheap labour are the reasons for the widespread distribution of textile industry in Tamil Nadu.

8. Distinguish between factory and industry.

FACTORY:

Single manufacturing unit is termed as factory.

INDUSTRY:

Multiple units of same kind which are spread over a large area are termed as industry.

9. Distinguish between agro based industry and mineral based industry.

AGRO BASED INDUSTRY:

Industry using agricultural products for manufacturing is termed as agro based industry.

MINERAL BASED INDUSTRY:

Industry using mineral for producing is called mineral based industry.

10.Distinguish between vegetable tanning and mineral tanning.

VEGETABLE TANNING:

If tanning is done by vegetative matter is known as vegetable tanning process.

MINERAL TANNING:

If the tanning is done with chemicals like chromium and fatty matter, it is known as mineral tanning process.

IV.ANSWER IN PARAGRAPH:

1. Describe the classification of industry based on ownership.

Private industry is one which owned by individual or a group of people. Ex: TVS Motors.

All government owned industry come under the public sector

Ex: TNPL

Co-operative sector is one which owned by a group of cooperative members who supply the raw materials for that industries and factories in Tamil Nadu.

When an industry is functioning under the partnership of two organizations it is said to be Joint Sector.

2. Give an account for the distribution of textile industry in Tamil Nadu.

Tamil Nadu contributes nearly 25% of India’s share in the export of cotton and fabrics.

Tropical climate, availability of raw materials, demand of cotton in market, power supply from numerous power projects and abundance cheap laborers are favorable factors of widespread distribution of textile industry in Tamil Nadu. Coimbatore, pollachi, Thiruppur, Karamadai, Erode etc. are the important centres for textile industry.

Maximum units are concentrated in and around Coimbatore region. For this reason it is known as Manchester of south India.

3. Write about the paper industry in Tamil Nadu.

Coimbatore, Vellore, Kanchipuram, Pugalur etc. are centers of paper industry in Tamil Nadu.

Tamil Nadu Newsprint and Paper Limited(TNPL) was set up with aid of World Bank in 1979 in Kakithapuram near Pugalur in Karur district. It is largest producers of bagasse based paper in the world with the annual consumption of bagasse to one million tonnes per annum.

It produce paper Newsprint, papers for telephone directory, computers, offset printing papers are also produced by TNPL.

4. Give an account of sugar industry in Tamil Nadu.

Tamil Nadu produces about 10% of total sugar in India.

Suitable climate and soil for high yielding varieties continuous irrigation facilities goods transport marketing facilities and regularized and co-operative sector are favorable factors of widespread sugar mills in the state.

A majority of distribution of sugar units in Tamil Nadu functioning under the co-operative sector.

At present Tamil Nadu has 42 sugar mills, out of which 16 are under the co-operative sectors, three owned by public sector, 23 are private mills.

Jaggery, kandasari and sugar the products from the sugar industry.

9th Indian Economy

DEMAND AND SUPPLY

I. CHOOSE THE CORRECT ANSWER:

1. There exists an indirect relationship between price and demand

2. Law of demand is only applicable to very low priced goods

3. One of the determinants of demand is taste and preference.

II. WRITE SHORT NOTE ON :

1. Alfred marshal’s law of demand:

The greater the amount to be sold the smaller must be the price at which it is offered.

In other words, the amount demanded increases with a fall in price and diminishes with a rise in price.

2. Law of supply:

As the price of the commodity rises, the quantity supplied is extended and as the price of the

commodity falls the quantity supplied is contracted. This is called the law of supply.

3. List out the determinants of supply:

  • The determinants of supply are
  • Production technology
  • Prices of factors
  • Prices of other products
  • Number of producers
  • Future price expectation
  • Taxes and subsidies
  • Non economic factors like natural calamities, war, epidemics etc.

III. WRITE IN A PARAGRAPH:

1. With the help of table explain.

The following demand schedule shows the inverse or indirect relationship between price and demand.

PRICE (in Rs. ) DEMAND (in kg.)
25 01
20 02
15 03
10 04
5 05

The above demand schedule shows the different quantities demanded at different prices by an individual consumer.

When the price of the mangoes is Rs. 25 per kg the consumer demands 1 kg.

When the price falls from Rs. 25 to Rs. 20, Rs. 15, Rs. 10 and Rs. 5, the consumer increases his demand from 1 to 2, 3, 4 and 5 kgs respectively.

This shows that with a fall in price the demand increases.

It indicates the indirect relationship between price and demand.

8th Indian Economy

MONEY, SAVINGS AND INVESTMENT

I. Choose the best answer

1. Money is what it does is defined by

a) Crowther b) walker c) Robertson

2. The purchasing power of money depends upon the

a) Price level b) demand level c) supply level

3. _________ is used as a standard for future payment

a) cheque b) Money c) Credit card

II. Fill in the blanks:

1. ___________ is one of the greatest inversions of money.

2. The word “money” is derived from the Latin word___________.

3. The most important function of money is that it acts as ___________.

4. Money is a convenient from of storing one’s ________ .

5. ____________ is inevitable for capital formation and economic growth.

6. ____________ is the medium of exchange.

7. The direct exchange of goods for goods is known as _________ system.

8. Moneta is the surname of Roman Goddess_____________.

9. Moneta is a __________ word.

10. The purchasing power of money depends upon the __________.

11. The rupee is a blend of the Devangiri ___________ and Roman ____________.

12. ___________ is nothing but value expressed in terms of money.

13. The portion of income not spent on consumption is called__________.

14. The addition made to the existing production and capacities is called __________.

III. Match the following

1. Moneta – old system of exchange of goods

2. Store of value – fundamental invention

3. Savings – Money

4. Money – function of money

5. Barter system – contributes to economic growth

IV. Brief answer

1. Money serves as a store of wealth explain.

i) Money is a convenient form of storing one’s wealth.

ii) Money can be easily converted into other marketable assets and machinery, industries and gold.

2. Write briefly about the importance of money

i) Money plays an important role in the economic development of a country.

ii) Modern economy cannot function smoothly without money.

iii) The importance of money can be realized only in its absence.

iv) Money is only a means and not an end in itself.

3. Explain the barter system

i) The barter system is exchange of goods for goods.

ii) It is the system of trading without the use of money.

iii) But it had many difficulties and in convenience. These difficulties led to the invention of money.

4. Explain the standard and deferred payment.

i) Money is used for standard and deferred payment.

ii) Business in modern times is based on “Credit” to a large extent.

iii) In credit, payments are made at a future date, money is the standard.

iv) If the credit transactions were to be carried on the basis of commodities, it would lead to difficulties. It will affect trade.

5. Define savings and Investments:

Savings

The portions of income not spent on consumption is called investment.

Investments

Investment include fixed equipments, machinery, building, raw material, replacement due to depreciation etc.,

V. Answer in detail

1) Describe the functions of money

Money performs many function in the modern economy.

The most important functions of money etc.,

a) medium of exchange

b) measure of value

c) store of value

d) standarred of deferred payments

Medium of exchange

i) The most important function of money is that it acts as medium of exchange.

ii) Money is accepted freely in exchange for all other goods.

Measure of value

i) It is a unit of account and a standard of common measurement

ii) is nothing but value expressed in terms of money.

iii) We use money for measuring value of goods. It makes economic calculation easy.

Store of value

i) Money is a convenient form of storing one’s wealth.

ii) Money also serves an excellent store of wealth as it can be easily converted into other marketable assets such as land, machinery, industries and gold.

Standard of deferred payments

i) Money is used for standard for future payments.

ii) Business in modern lines is based on credit to a large extent.

iii) In credit, payments are made at a future date, money is the standard.

iv) if credit transactions were to be carried on the basis of commodities, it would lead to difficulties. It will affect trade.

2. Discuss significance of money?

i) Every branch of economic activity in a money economy is different from what it was in baster economy.

ii) Money has influenced and facilitated from what it was in the buster economy.

iii) Money plays an important role in the field of consumption, production, exchange, distribution and public finance.

iv) Money plays an important role in the economic government of a country.

v) Modern economy cannot function smoothly without money.

vi) The importance of money can be realized only in its absence.

3. Write in detail about savings and investment savings?

The portion of income not spent on consumption is called savings.

Investment

i) The addition made to the existing production capacities is called investment.

ii) Investment include equipments, machinery, building, raw material, replacement due to depreciation etc.,

Savings and Investment are related to another

i) Savings is inevitable for capital formation and economic growth.

ii) Savings is directly connected with investment.

iii) Savings and investment are basic economic activities in an economy.

iv) Saving and investment increase the amount on capital, which contributes the economic growth.

Savings and investments differ from one another

i) Savings and investment are in the hands of two distinct groups of people

ii) Savings is done by the consumer

iii) Investment is the functions of entrepreneurial class.

iv) The motives for saving and investment are also different from each other.

8th Geography

TRADE

I. Fill in the blanks

1. Latin America exports _______________.

2. Rubber and tin are found abundantly in ________________.

3. Industrial countries export ___________ to the less industrial countries.

4. Trade between countries is called ____________.

5. The European country which exports large amount of paper and wood pulp ___________.

6. Latin American countries import_____________.

7. African countries are the importers of ______________.

II. Match the following:

1. China – Middle Eastern countries

2. Oil – Mineral Ores

3. Paper – Silk

4. Africa – Malaysia

5. Tin – Canada

III. Choose the correct answer

1. Trade with in the country is called _________________.

a) Internal trade b) International Trade c) Open trade

2. Industrial raw materials are _____________ products

a) Primary b) Secondary c) Tertiary

3. Switzerland is famous for ____________

a) Silk b) Watchers c) Tea

IV. Answer the following

1. What is meant by bilateral and multilateral trade?

i) Bilateral trade is the exchange of commodities between two countries.

ii) Multilateral trade is the exchange of commodities between a number of countries.

2. What are the two main categories of commodities that enter into the world trade?

i) Primary products include cereals – fruits and other food items

ii) Cotton, Jute etc are also primary products.

iii) Secondary products are manufactured goods.

3. Why does trade occur?

i) Trade occurs because of surplus of goods in one place and the demand for the same in another place.

ii) The difference in the natural resources of countries forms the basis of trade between countries.

IV. Paragraph

1. How does climate affect the trade of a country?

i) Differences in climatic conditions result in different types of agricultural, animal and forest products.

ii) So difference in climatic conditions affect the trade of a country.

iii) Exchange of goods takes place between different climatic regions.

iv) For example Temperate regions supply softwood and dairy products.

2. Write a short on balance of trade

i) The difference in values between imports and exports of a country is referred to as the balance of trade.

ii) If exports exceed imports the country is said to have a favourable balance.

V. Detail

1. Discuss the factors that affect trade.

Uneven distribution of natural resources.

Differences in climate, geology, Soil, vegetation and minerals resources result in the exchange of goods.

Stage of industrial

Industrial countries export finished products to other loss industrialized countries.

Differences in Climate

i) Differences in Climatic conditions result in different types of agricultural, animal and forest products.

ii) So differences in Climatic conditions affect the trade of a country.

Differences in Population

i) People in different regions produce distinctive types of goods because of their long tradition of producing certain goods.

ii) Countries like china exports silk and Switzerland exports watches.

Transportation

Transportation play an important role in the development of trade. The development of roads. Oil Pipeline and so on in a country facilitate international trade by transporting a variety of bulky goods to the ports.

Government Policies

International trade is influenced by Political relationship. When the relationship  between countries is good, then there is more trade.

2. Give an account of the world’s major trading regions.

Europe

Europe is one of the most densely Populated and highly industrialized regions.

North America

The USA has the largest volume of trade together with Canada.

Latin America

This region covers the Caribbean Islands and central and South America countries.

All them export foodstuffs and raw materials and import manufactured goods.

Africa

African countries export minerals ores and tropical raw materials and import manufactured goods.

Asia

Asian countries are rich in raw materials and minerals and they export them.