Economics is divided into two branches, microeconomics, and macroeconomics. Having already studied microeconomics earlier, we now study macroeconomics. From a macroeconomic point of view, an economy is divided into four major sectors, the household sector, business sector, government sector, and foreign sector. Check out the solutions for this chapter by Ekal Shiksha.
This chapter tells us about all the factors involved in calculating national income. That enlisted aggregates of national income are discussed in detail in the chapter. The methods of calculating national income are product method, expenditure method, and income method. The solutions for this chapter by Ekal Shiksha will aid you to have a thorough understanding of the concepts.
Money is an important means of exchange. This chapter tells us about the primary and secondary functions of money. We understand how to measure the money supply in the economy. Two banking systems exist in our economy: the commercial bank and the Central Bank. The solutions for this chapter by Ekal Shiksha will aid you in gaining clarity of the concepts.
In this chapter of macroeconomics, we understand aggregate demand and its components in an open and closed economy. Further, we get to know about aggregate supply, the consumption function, saving function, investment, ex-ante and ex-post investments. It is important to have a clear understanding of this chapter and NCERT solutions by Ekal Shiksha have detailed answers with explanations.
This chapter tells us about the government budget, which is a year-long financial report that explains how future revenue and expenses will be calculated. The two components of a budget are revenue budget and capital budget. A fiscal deficit is a situation when government expenditure exceeds its revenue, similarly, there is a primary deficit and budget deficit. The solutions for this chapter have detailed answers to all NCERT questions.
To truly understand the Indian economy, it is important to start from the eve of independence. In this chapter we read about the agricultural sector on the eve of independence, the industrial sector, the drain of India’s wealth, demographic condition, occupational structure, infrastructure, India’s national and per capita income on the eve of independence. There was low economic growth under colonial rule and a low level of productivity was seen in the agricultural sector. The solutions for this chapter by Ekal Shiksha have detailed answers to NCERT questions.
In this chapter we trace the Indian economy from the 1950 to 1990. The Planning Commission was set in 1950 and they set up goals of five-year plans. These goals were growth, modernisation, self-reliance, and equity. We government made institutional reforms and implemented green revolution to improve the Indian agriculture. The industrial and the trade sector of India was also improved during these years. Check out the solutions for this chapter by Ekal Shiksha.
In 1991, the Government of India initiated a new economic policy. The three major components of this policy were liberalization, privatization, and globalization. It was important for India to implement these economic reforms because of the poor performance of public sector decreasing foreign exchange reserves, the inflationary balance of payments, and government debts. Check out the solutions for this chapter curated by experts at Ekal Shiksha.
Poverty has been prevalent in India for many decades. The poor are characterized by lack of adequate food, illiteracy, lack of basic amenities, unemployment, and indebtedness. Poverty can be characterized as absolute poverty and relative poverty. Through this chapter, we understand the concept of the poverty line. The causes of poverty and the policies and programs toward poverty alleviation are discussed in the chapter. Check out the solutions for this chapter by Ekal Shiksha.
This chapter is about human capital formation, the major sources of human capital in our country, are expenditure on education and health, on the job training, migration, and information. Due to insufficient resources, high growth of population and high poverty levels, there is poor human capital formation in India. Check out the solutions for this chapter curated by experts at Ekal Shiksha.
This chapter talks about developing the regions which are falling behind the overall growth of village economy. Farmers often take rural credit by non-institutional sources and institutional sources. The government has taken some measures to improve agricultural marketing, which is regulated markets, cooperative marketing, infrastructural facilities, and standardization and grading. IT industries have also played a major role in agricultural development. Check out the solutions for this chapter by Ekal Shiksha.
This chapter tells us about employment and its issues. There are two types of workers, self-employed and hired workers. The labour force of a country consists of people working and people who are seeking jobs. Unemployment refers to a situation when a person is willing to work but is unable to find work. Types of unemployment can be rural and urban. Check out the solutions for this chapter curated by experts at Ekal Shiksha.
Infrastructure is the central element of economic and social change. Economic infrastructure refers to the economic changes such as electricity and transportation and social infrastructure refers to the social changes such as schools, colleges, hospitals. Through this chapter, we understand the state of India’s infrastructure in terms of energy and health. The NCERT solutions by Ekal Shiksha will aid you in gaining clarity of topics.
The environment offers resources sustains lives, assimilates waste and enhances the quality of life. This chapter tells us about the state of India’s environment, the major environment related issues are land degradation, air pollution, biodiversity loss, management of fresh water and solid waste management. Sustainable development is also talked about in the chapter. Check out the solutions for this chapter curated by experts at Ekal Shiksha.
In this chapter, we compare the development of India with its neighbouring countries, Pakistan and China. We compare the development strategies implemented by each of the countries. In the end, the chapter concludes that India has performed moderately, Pakistan has had a poor performance and China has performed comparatively the best. The solutions for this chapter by Ekal Shiksha will aid you in gaining clarity of the concepts.