Creation of utility is..?

Globalisation
4 Marks Questions

1. Globalisation has erased the national boundaries. Explain.
A: * Globalisation has erased the national boundaries.
*  As a result it has seen the demise of a nation or state. It has diluted the concept of Nationalism.
*  The government has no control over the market.
*  Globalisation has ignored the infrastructural facilities in villages.
*  It is beneficial to rich consumers, skilled people, educated and for rich entrepreneurs.
*  It created and is creating big problems to small producers. Thus we can say that globalisation harms democracy, small producers, entrepreneurs and even poor countries.

2. What is globalisation? What are its features?
A: Globalisation is the process by which business or other organizations develop international influence.

Features of Globalisation:
*   The goods and services are being produced and sold internationally.
*   The transport and communication between different people in different countries has increased.
*   The financial transactions are taking place between the people and countries also through use of information technology.
*   All this resulted in the birth of MNCs which diverse their production.
*   The media, information technology made the communication easy.
    This globalisation has brought tremendous change not only in the relation between the countries but also among the life of a common man.

3. Globalisation will continue in the future. Comment.
A: * Yes, I agree with it. It will continue in the future.
*   Twenty years from now the world will be more globally connected and integrated into one international economy.
*   There will be an expansion of economy and technology in the form of increased flow of capital, trade labour information technology and mass media.
*   The entire world will be referred as the global village.

2 Marks Questions

1. The impact of globalization has not been uniform. Explain.
A: It is benefited to rich persons in the urban  areas some large Indian companies emerged as MNC's. Thousands of small producers closed their units and met losses. Many employees lost their employment and workers saw their rights erode.

2. What are the Indian companies that became MNC's?
A: Globalization has enabled some large  Indian companies to emerge as multi nationals themselves. Tata Motors (automobiles), Infosys (IT), Ranbaxy (Medicines) Asian Paints (Paints), sundaram fasteners (nuts and bolts) are some Indian companies which are spreading their operations world wide.

3. What is the difference between foreign trade and foreign investment?
A: Foreign trade: It is any kind of trade  (exports and imports) with other countries of the world.
Foreign investment: Private capital investment by firms of one country into those of another country is called foreign investment.

1 Mark Questions

1. What is the aim of  World Trade organization?
A: The main aim is to see that trade between countries should be free without any barriers.

2. What is outsourcing?
A: It means going out to a source outside the company to buy regular service.

3. What is Arab Spring?
A: The revolution in Arabic nation influenced the other nations by ending monarchies that begin in 18th December 2010 is called Arab Spring.

4. Expand IBRD.
A: International Bank for Reconstruction and Development.

5. Name the three types of governments with in international economic changes?
A: * Flow of trade in goods as well as services
* Flow of labour * Flow of investments

  1/2  Mark Questions

1. ....... is a major change that occurred across the globe in the late 20th century.
A: Globalisation

2. Liberalization was started in India in which year?
A: 1991

3. The previous name of WTO was ......
A: GATT

4. The headquarters of WTO is ........
A: Geneva

5. SEZ's are set up by ...........
A: Governments

6. Arab spring started in several nations like?
A: Egypt and Tunisia

7. MNC - Multi National ........
A: Companies

8. Tax on imports is an example of .....
A: Trade barrier

Rampur - A Village Economy

4 Marks Questions

1. What are the reasons for multiple cropping in rural areas?
A: H To increase the food crops production  to meet the increasing demand. H Lands are limited source of production and to utilize the resource multiple cropping is necessary. H Usage of hybrid seeds reduced the duration of crops. H Credit facilities, irrigation  has improved. To utilize them to maximum extent this is suitable. H Multiple cropping helps  to maximum utilizing of water and fertilizers. H Educated farmers are aware of advantages and choosing suitable crops to get maximum profits.

2. What is land? Suggest any three ways to sustain the productive capacity of land.
A: Land is the leveled surface. The other  natural resources such as water, forests, minerals etc., are used for production of goods and services. Excessive use of chemical fertilizers or modern techniques of farming destroying land and all the other natural resources.
    Limited use of chemical fertilizers: Chemical fertilisers should be used in a limited number and only as per the requirement. Excessive use of chemicals destroys the fertility of the lands.
    Crop rotation: Crops should be planted in such a way that land gets time to restore its fertility. Land is able to restore the lost nutrients.

2 Marks Questions

1. Name the Economic activities at Rampur?
A: * Farming is the main activity.
*  Working as agricultural labourer.
*  Adopting poultry and cattle farming.
*  Installing sugarcane crushing machine.

2. Which changes have taken place in the way of farming practiced in India?
A: * Use of farm machinery.* Natural manures were replaced by chemical fertilizers. * Use of pesticides. *  Traditional seeds have been replaced by HYVS.

3. Why are the wages for farm labourers in Rampur less than minimum wages?
A: The wages for farm labourers in Rampur is less than minimum wages because there is heavy competitions among farm labourers in Rampur. So people ready to work for lower wages. Usage of machines by large farmers is also one of the reasons for low wages.

4. Why do you think men receive a higher wage than women for the same job?
A: Wages vary widely from region to region, from crop to crop, one farm activity to another even from men to women. Generally men are paid more than women though their work is same. Women have to accept this variation. Due to some hard physical work like ploughing is done only by men. Critical work like climbing the hills, cutting trees are given to only men.

1 Mark Questions

1. What is meant by fixed capital?
A: The assets which can be used in production over many years is known as fixed capital.

2. What is production?
A: Creation of utility is called production.

3. What is called working capital?
A: The raw material and money in hand used in production are called working capital.

4. What are the methods of modern farming?
A: HYV, chemical fertilizers and use of pesticides are the methods of modern farming.

5. Expand MNREGA.
A: Mahatma Gandhi National Rural Employment Guarantee Act.

6. What are the factors of production?
A: The Factors of production are land labour capital and organisation.

7. What is multiple cropping?
A: To grow more than one crop on the same piece of land during the year is known as multiple cropping.

8. Mention some non farm activities.
A: Non farm activities include dairy, transport, small scale manufacturing, shop keeping etc.

1/2   Mark Questions

1. Kharif - Jowar, Bajra; Rabi - ?
A: Wheat

2. The factors of production are
   i) land       ii) labour     iii) ?     iv) organisation
A: Capital

3. Land - Rent;  Labour - ?
A: Wages

4. One hectare is ........ square meters.
A: 10,000

5. Increase of potato production - Round revolution
    Increase of Rice and Wheatproduction - ?
A: Green revolution

6. .......... is the third crop harvesting in Rampur Village.
A: Potato

7. ......... is another name of investment raw material.
A: Physical capital

8. The cause for decline of fertility of land is due to?
A: Excessive use of fertilizers

9. In 2010 India total cultivated area is ...........
A: 140 mh

10.  ........ is main production activity in the village.
A: Agriculture