CBSE Class 10 Economics Social Science Chapter 2: Sectors of the Indian Economy
Thus, tourism creates a lot of employment. The tertiary sector gained more prominence over the last 30 years. Encouraging agro-based industries will tackle the problem of unemployment in rural areas to a great extent.
CBSE
Currently the agriculture sector employs the most people in India. There are many instances in which a person can work but has become too discouraged by an unsuccessful job hunt to continue to actively seek a job. The labor force participation rate is used to measure the percentage of the civilian population over the age of 16 who is working or seeking work. By 2022, the Indian healthcare sector is expected to be worth $372 billion, according to Invest India. Furthermore, the hospital sector in India provides 80% of the country’s healthcare spending and is anticipated to grow by 16–17% to $132.84 billion by 2022. It is without a doubt one of the industries in India that is expanding the quickest.
Where are Most People Employed?
Explain any three aspects taken by the government of India to modernize agriculture. Tourists will need the service of guides, cabs and restaurants. In addition, the demand for souvenirs will increase. There will also be a greater demand for traditional handicrafts, traditional costumes and the like.
In this situation, more people do a job when the service of fewer people are required. The unemployment rate counts those workers who are part of the labor force and actively seeking work but are currently without it. The unemployment rate receives the majority of the national spotlight, but that can be misleading as the main indicator of the job market’s health since it does not account for the full potential of the labor force. Underemployment is a measure of the total number of people in an economy who are unwillingly working in low-skill and low-paying jobs or only part-time because they cannot get full-time jobs that use their skills.
- In addition, the demand for souvenirs will increase.
- It represents a form of labor market underutilization and can have adverse effects on individuals’ well-being, productivity, and overall economic performance.
- And the sum of production in the three sectors gives the Gross Domestic Product (GDP) of a country.
- In both cases, these individuals are underutilized by the economy as they, in theory, can provide a greater benefit to the overall economy.
- It causes problems on the road to development.
So to convert it into usable form some process of manufacturing is essential. This can be done in a factory or at home with simple tools. Sectors of Indian economy class 10 notes talk about underemployment. A situation in which although people are employed, they work less than what is in their potential is known as underemployment. This kind of underemployment is hidden in contrast to someone who does not have a job.
Q.7. What is an organised sector ? In urban areas many people who work as hawkers or door-to-door salesmen do not earn enough although they spend the entire day working. Likewise, people employed as mechanics, electricians, plumbers, masons or painters may not have work every day.
- Farmers need money to buy seeds, fertilizers, agricultural equipment and pump sets to draw water.
- Thus, tourism creates a lot of employment.
- Disguised unemployment refers to a situation where people are visibly employed but actually unemployed.
- It is important to address underemployment as it can have significant economic and social implications.
- For example, when more tourists arrive, there will be a greater demand for transport and accommodation facilities.
Class X Economics Chapter 2 Important Questions From Primary, Secondary, Tertiary Sectors
Hence, many farmers are forced to borrow money from local money lenders at high interest rates. Even if they get a good yield, their profits will be negligible because of the high interest rate on the money borrowed. Now, if the crop fails, the farmer will be pushed into deep debt. By contrast, if they can get a loan from a bank at an affordable interest rate, their profit margin will increase.
Question 1 – Teachoo Questions – Chapter 2 Class 10 Economics – Sectors of the Indian Economy – Economics
Expected questions from the section primary, secondary and tertiary sectors in India. Primary sector forms the base for all other products that we subsequently make. Since most of the natural products we get, are from agriculture, dairy, fishing, forestry, this sector is also called sector for agriculture and related activities (stone quarrying, animal husbandry, etc.).
Social Sciences
This sort of unemployment is common in our country’s industrial sector. This is also prevalent among rural landless agricultural labourers.Disguised Unemployment — This is a type of unemployment in which people appear to be working but do not have full-time employment. This form of unemployment is most common in the unorganized sector when either work is not always accessible or too many people are hired for the same job that does not require so many hands. Also, while the secondary and tertiary sector produces more than 3-4th of the products and services, these sectors employ less than half of the total population. Disguised unemployment refers to a situation where people are visibly employed but actually unemployed.
This also leads to disguised unemployment and does not benefit the economy. The tertiary sector employs different kinds of people and only a small number of them can earn huge salaries. The IT and related sectors, for example, employ a small number of highly skilled people who earn really well. Underemployment captures the portion of the labor force that is working in low-paying, low-skill, or part-time jobs while having the qualifications for better jobs. It is an overlooked measure of unemployment.
While people working in the primary sector are often underemployed, many people working in the secondary and tertiary sector with assured salaries are often forced to work overtime. In the tertiary sector, the production of services increased by more than 14 times, but employment opportunities rose by only 5%. Countries reduce unemployment by growing the economy and creating more job opportunities.
In rural regions, for example, this sort of unemployment is commonly encountered in the agricultural industry, as in a family of nine individuals all working on the same agricultural plot. However, removing four persons from the equation has no effect on production. As a result, these four persons are working undercover. This form of unemployment is particularly common in service sectors such as the whole family is working in one petty store or a tiny business that can be handled by a small number of people. Q.6. What is disguised unemployment ?
In such situations, more people are employed in a job than is required. define underemployment class 10 Disguised unemployment is more common in the primary sector. It is important to address underemployment as it can have significant economic and social implications. Underemployed individuals may face financial hardships, reduced job satisfaction, and limited career advancement opportunities. From an economic standpoint, underemployment can result in lower labor productivity and potential wastage of human capital, which can hinder overall economic growth.
Underemployment can be caused due to several factors. The period during and after a recession, when companies downsize and lay off qualified workers, is characterized by underemployment. This situation arises when educated people cannot find a job. There are mainly four types of unemployment in India. Describe any four types of unemployment.
CBSE 2010 (D), Sept. 2010OrHow far is it correct to say that disguised unemployment can also be called underemployment ? (i) It is a situation in which more workers are working in an activity than required. In this case, 5 workers are disguised unemployed. In such cases, even if the surplus workers are removed, the production will not suffer. Q.3.What are tertiary activities ? Tertiary activity consists of all service occupations.
