Chapter 15
Economy, its components and medium of exchange
Exercise-1
1. By answering the following questions-
(a) How does Tarzan live in the village?
Answer: Most of the people of Tarajan village live by farming and fishing. Many of them are involved in agriculture and fishing is their main livelihood.
(b) Give examples of the most common economic activities in your village or village.
Answer: (Example Hiccup):
The most common economic activities in the village are agriculture, dairying and factory work.
(c) You and your family members are involved in at least one economic activity.
Answer: 1. Cultivate
2. Selling milk
3. Village markets and shops are open
2. What is the difference between economic activities and non-economic activities? Each function is explained with examples.
Answer:
| Subject | Economic activity | Non-economic activities |
|---|---|---|
| Meaning | Bring work that earns income | Any work that does not generate any income |
| Purpose | Earnings | Self-satisfaction or social service |
| Example | Agriculture, business, employment | Housewives, running their own house, doing charity work |
3. This is an example of the non-economic activities of your people. Those activities are considered as non-economic activities. Is Arihna Yogab written for the welfare of the society?
Answer: According to me, many women teach for free. This work does not bring any money to them, only helps the society, so this is a non-economic work. It is this work that facilitates the education of the students of the village and contributes to the development of the society as a whole.
Exercise-2
1. By answering the following questions-
(a) What are the main components of the economy?
Answer: The main component of economy is—
1. Initial part
2. Secondary part
3. Service section
(b) What is the prime fraction?
Answer: Primary sector is called manufacturing sector or agricultural sector. Yat includes agriculture, animal husbandry, fishing.
(c) What is the third part of economics?
Answer: The third sector of the economy is the service sector. Primary occupations include teaching, medical, banking, transportation.
(d) What is barter system or barter economy?
Ans: Barter economy or barter economy where people exchange their own goods for other people's goods.
(e) What is the current medium of exchange?
Answer: The current medium of exchange is mudra or taka.
2. Explain the year-to-year changes in the price of goods bought after the invention of currency.
Answer: The invention of currency removed the disadvantages of barter system. Currency now became the common medium of exchange. It became possible to buy and sell goods easily and the business expanded.
3. Interdependence of primary, secondary and service components is explained with the help of examples.
Ans: For example, farmers produce rice (primary sector), millers make rice into rice (secondary sector), and rice is sold in shops or transported by trucks to other parcels (service sector). These are also partially interdependent.
✍️ Additional Question-Answer
1. Tarzan Gawant Muth Kiman Perial lives?
Answer: Tarzan Gawant Muth lives in 95 Parials.
2. How many people in the village can go to the village?
Ans: In the village, the people of the village go to work outside the village, i.e., during the farming season, they go to another place for the harvest.
3. What kind of work do the children, youth and old people of Tarzan village do?
Answer: Children go to school, youths are involved in basic activities and old people generally observe the life cycle, although some fishing or other auxiliary work is done.
4. He gave the example of service sector.
Answer: 1. teaching
2. Treatment
3. Transportation
Krishna Saikia
