Ncert Solutions for Class 10 Economics Chapter 2 Notes

10 Class social science Economics Notes in English chapter 2 SECTORS OF THE INDIAN ECONOMY

CBSE Revision Notes for CBSE Class 10 Social Science ECO Sectors of the Indian Economy ECO Sectors of the Indian Economy: Sectors of Economic Activities; Historical change in sectors; Rising importance of tertiary sector; Employment Generation; Division of Sectors Organised and Unorganised; Protective measures for unorganised sector workers.

Class 10th social science Economics chapter 2 SECTORS OF THE INDIAN ECONOMY Notes in English

📚 Chapter = 2 📚

👉 SECTORS OF THE INDIAN ECONOMY 👈

❇️ Sectors of Economic Activities :-

🔹Sector defines a large segment of the economy in which businesses share the same or a related product or service.

❇️ Economic Activities :-

🔹

Economics activities are such activity which gets you some income while performing them. For example, a doctor is earing by treating his patients.

❇️ Non Economic Activities :-

🔹 Non-economic activities are the activities from which do not gain anything earn you any income. For example, a doctor treating his own family members doesn't earn any money.

❇️ O n the basis of nature of activity, the economic activities are :-

✴️ Primary Sector :- Producing a good by exploiting natural resources is an activity of primary sector. Such as: Agriculture, Dairy fishing forestry and so on.

✴️ Secondary Sector: :-covers activities in which natural products are changed into other forms through ways of manufacturing that we associate with industrial activities. Such as using cotton fiber from plant.

✴️ Tertiary Sector :-These activities by themselves do not produce a good but they are an aid or a support for the production process. This sector is known as Service sector also. Such as transport services, insurance services and so on.

❇️ Comparing the Three Sectors :-

✴️ Intermediate Goods - Those goods which are sold by one firm to another either for resale or for further processing.

✴️ Final Goods - Those goods which are used either for final consumption or for capital formation. These are not resold.

❇️ Historical Changes In sectors :-

✴️ Primary Sector :-

🔹 As the method of farming changed and the agricultural sector began to prosper production increased.

🔹 Many people could not take up other activities.

🔹 It is the stage of the goods produced were natural products and most people employed in this sector.

✴️ Secondary Sector :-

🔹 Because of new methods of manufacturing were introduced, factories came up and started expanding. Farmers began to work in factories.

🔹 This sector slowly became the most important sector in the total production and employment.

🔹 Hence a shift had taken place. It means the importance of sectors had changed.

✴️ Tertiary Sector :-

🔹 In the 100 past there has been another years shift from secondary to tertiary sector in the developed countries.

🔹 The service has become the most important. in terms of total production. Most of the working people also employed in the service sector.

🔹 These are observed in the developed countries.

❇️ Rising Importance of Tertiary sectors in production :-

🔹Basic services like hospitals, education, post and telegraph, courts, etc. are the responsibility of the government in developing countries.

🔹 Demand for services such as transport, trade, storage will increase with the development of primary and secondary sectors.

🔹 Demand for tourism, shopping, private schools, private hospitals, etc. increases with the increase in the level of income.

🔹 Rapid growth of service sector also benefited from external demand such as software industry and call centre services.

🔹 Liberalisation of financial sector provided an environment for faster growth of financial services.

❇️ Underemployment :-

🔹 Underemployment is a hidden kind of unemployment. Each one is doing some work but no one is fully employed. This is the situation of underemployment, where people are apparently working but all of them are made to work less than their potential.

❇️ Open Unemployment :-

🔹 refers to the situation in which an individual has no job and unable to earn his livelihood. This unemployment is clearly visible.

❇️ Disguised Unemployment :-

🔹 refers to the situation in which people work at a place where there is no more people are required. The situation in which people are apparently working but all of them are made to work less then their potential. This unemployment is hidden.

❇️ Sectors on the basis of Employment Condition :-

✴️ (I) ORGANISED SECTOR :-

🔹 The organised sector covers those enterprises or places of work where the terms of employment are regular and therefore, people have assured work. They are registered by the government and have to follow its rules and regulations which are given in various laws such as the Factories Act, Minimum Wages Act, Payment of Gratuity Act, Shops Act etc. Examples are Reliance Industries Limited, Tata Motors etc.

✴️ (II) UNORGANISED SECTOR :-

🔹 The unorganised sector contains enterprises not registered by the government. The unorganised sector is characterised by small and scattered units, which do not follow proper rules for employment or give any leaves or other benefits. Examples are casual workers in construction, shops, garages etc.

❇️ How to Create More Employment?

🔹 Away by which we can tackle this problem is to identify, promote and locate industries and a large number of people may be employed.

🔹 A study conducted by the Planning Commission estimates that nearly 20 lakh jobs can be created in the education sector alone.

🔹 Every state or region has the potential for increasing the income and employment for people in that area.

🔹 The same study by the Planning Commission says that if tourism as a sector is improved, every year we can give additional employment to more than 5 lakh people.

🔹 We must realize that some of the suggestions discussed above would take a long time to implement.

🔹 Recognizing this, the central government in India made a law implementing the Right to Work.

🔹 Under MGNERGA 2005, all those who are able to, and are in need of, work are guaranteed 100 days of employment in a year by the government.

🔹 If the government fails in its duty to provide employment, it will give unemployment allowances to the people.

Ncert Solutions for Class 10 Economics Chapter 2 Notes

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