Why are rules and regulations required in the marketplace? Illustrate with a few examples.
Rules and regulations are required in the marketplace to protect consumers from exploitation. Seller tries to shift all the responsibility on to the buyer. Whenever, a consumer complains against the goods or services for the bad quality or
quality sellers deny of any fraud and try to shifts all the responsibility on to the buyers. The seller tend to hold no responsibility for the goods once sold. For example, a grocery shop owner might sell expired products and then blame the customer for not checking the date of expiry before buying the items. Hence, rules and regulations are needed to safeguard the interest and rights of consumers in the marketplace.
Popular Questions of Class 10 Social Science - Understanding Economic Development
- Q:-
The following table shows the proportion of adults (aged 15-49 years) whose BMI
is below normal (BMI <18.5 kg/m2) in India. It is based on a survey of various
states for the year 2015-16. Look at the table and answer the following questions.(i) Compare the nutritional level of people in Kerala and Madhya Pradesh.
(ii) Can you guess why around one-fifth of people in the country are undernourished even though it is argued that there is enough food in the country? Describe in your own words. - Q:-
Explain how public sector contributes to the economic development of a nation.
- Q:-
Workers are exploited in the unorganised sector. Do you agree with this view? Give reasons in support of your answer.
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“Tertiary sector is not playing any significant role in the development of Indian
economy.” Do you agree? Give reasons in support of your answer. - Q:-
For each of the sectors that we came across in this chapter why should one focus on employment and GDP? Could there be other issues which should be examined? Discuss.
- Q:-
Why is the issue of sustainability important for development?
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For each of the items given in Table 1.6, find out which country is at the top and
which is at the bottom. - Q:-
Critically examine the progress of the consumer movement in India?
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Distinguish between open unemployment and disguised unemployment.
- Q:-
Fill in the blanks using the correct option given in the bracket:
(i) Employment in the service sector _________ increased to the same extent as production. (has / has not)
(ii) Workers in the _________ sector do not produce goods. (tertiary agricultural) (iii) Most of the workers in the _________ sector enjoy job security. (organised / unorganised)
(iv) A _________ proportion of labourers in India are working in the unorganised sector. (large / small)
(v) Cotton is a _________ product and cloth is a _________ product. (natural / manufactured)
(vi) The activities in primary, secondary and tertiary sectors are _________. (independent / interdependent)
Recently Viewed Questions of Class 10 Social Science - Understanding Economic Development
- Q:-
In situations with high risks, credit might create further problems for the borrower. Explain?
- Q:-
Match the following.
(i)
Availing details of ingredients of a product
(a)
Right to safety
(ii)
Agmark
(b)
Dealing with consumer cases
(iii)
Accident due to faulty engine in a scooter
(c)
Certification of edible oil and cereals
(iv)
District Consumer Court
(d)
Agency that develops standards for goods and services
(v)
Consumers International
(e)
Right to information
(vi)
Bureau of Indian Standards
(f)
Global level institution of consumer welfare organisations
- Q:-
A research scholar looked at the working people in the city of Surat and found the following.
Place of work
Nature of employment
Percentage of working people
In offices and factories registered with the government
Organised
15
Own shops, office, clinics in marketplace with formal license
---
15
People working on the street, construction workers, domestic workers
---
20
Working in small workshops usually not registered with the government
---
---
Complete the table. What is the percentage of workers in the unorganised sector in this city?
- Q:-
How does foreign trade lead to the integration of markets across countries? Explain with an example other than those given here.
- Q:-
In what ways does the Reserve Bank of India supervise the functioning of banks? Why is this necessary?
- Q:-
Distinguish between open unemployment and disguised unemployment.
- Q:-
Mention a few factors which cause the exploitation of consumers.
- Q:-
Look at a 10 rupee note. What is written on top? Can you explain this statement?
“Reserve Bank of India” and “Guaranteed by the Government” are written on top. - Q:-
How does money solve the problem of double coincidence of wants? Explain with example of your own.
- Q:-
Supposing you find two people arguing: One is saying globalisation has hurt our country’s development. The other is telling, globalisation is helping India develop. How would you respond to these organisations?
- NCERT Chapter