How does money solve the problem of double coincidence of wants? Explain with example of your own.
Double coincidence of wants occurs when goods or commodities are exchanged without the use of money. Here , both the individuals who exchange goods are actually in need of those goods. In a barter system where goods are directly exchanged without using money, double coincidence of wants is an essential feature. By serving as a medium of exchanges, money removes the need for double coincidence of wants and the difficulties associated with the barter system. Now, no specific buyer or seller is required for interchanging of products. For example, a farmer has to sell wheat to someone needs this and with the earned money he can buy cereals for him as well.
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.
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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
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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.
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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
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Critically examine the progress of the consumer movement in India?
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Distinguish between open unemployment and disguised unemployment.
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Analyse the role of credit for development.
Recently Viewed Questions of Class 10 Social Science - Understanding Economic Development
- Q:-
Match the following.
(i) MNCs buy at cheap rates from small producers
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Automobiles
(ii) Quotas and taxes on imports are used to regulate trade
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Garments, footwear, sports items
(iii) Indian companies who have invested abroad
(c) Call centres
(iv) IT helped in spreading of production of services
(d) Tata Motors, Infosys, Ranbaxy
(v) Several MNCs have invested in setting up factories in India for production
(e) Trade barriers
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Mention some of the rights of consumers and write a few sentences on each?
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What is the basic idea behind the SHGs for the poor? Explain in your own words.
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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:-
What was the reason for putting barriers to foreign trade and foreign investment by the Indian government? Why did it wish to remove these barriers?
- Q:-
Development of a country can generally be determined by
(i) its per capita income
(ii) its average literacy level
(iii) health status of its people
(iv) all the above - Q:-
Service sector in India employs two different kinds of people. Who are these?
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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?
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What is the main criterion used by the World Bank in classifying different countries? What are the limitations of this criterion, if any?
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How would flexibility in labour laws help companies?
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