Question 29 [Graph Based Question] - Social Science CBSE Class 10 Sample Paper for 2024 Boards - Solutions to CBSE Sample Paper - Social Science Class 10 - Social Science Class 10

A Graph given below shows the production of goods and services in the three sectors of the economy. This is shown for two years, 1973-74 and 2013-14. Analyze the data provided and answer the following questions.

1. Which was the least producing sector in 1973-74? State the reasons.

Answer: 

Answer by Student

The least-producing sector in 1973-74 was the secondary sector . The reasons are:

• The secondary sector includes manufacturing , construction , and electricity .
• India was a closed economy at that period, which means that it had limited trade and investment with other countries.
• Industrial policy restricted the freedom to enter various kinds of industries and tedious licensing policy discouraged new players from coming in.

Detailed Answer by Teachoo

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The least-producing sector in 1973-74 was the secondary sector . The reasons are:

• The secondary sector includes manufacturing , construction , and electricity . These are the activities that involve transforming raw materials into finished goods or adding value to them. For example, making cloth from cotton, building houses from bricks and cement, generating power from coal or water, etc.

• India was a closed economy at that period, which means that it had limited trade and investment with other countries. A closed economy is one that does not allow the free movement of goods, services, capital, and people across its borders. This reduces the opportunities and incentives for domestic industries to grow and compete in the global market.
  
  
• Industrial policy restricted the freedom to enter various kinds of industries and tedious licensing policy discouraged new players from coming in. Industrial policy refers to the set of rules and regulations that govern the entry and operation of industries in an economy. Licensing policy refers to the requirement of obtaining a license or permission from the government before setting up or expanding an industry. These policies were rigid and complex in India at that time and reduced the competition and innovation in the secondary sector.

2. Which was the largest producing sector in 2013-14? State the reasons.

Answer by Student

The largest producing sector in 2013-14 was the tertiary sector . The reasons are:

• The tertiary sector includes services such as banking, trade, transport, communication, education, health, etc.
• India opened up its economy to foreign investment and trade due to the liberalization , privatization , and globalization policies.
• The tertiary sector benefited from the growth of the primary and secondary sectors which created more demand for services.

Detailed Answer by Teachoo

The largest producing sector in 2013-14 was the tertiary sector . The reasons are:

• The tertiary sector includes services such as banking, trade, transport, communication, education, health, etc. These are the activities that involve providing support or assistance to the primary and secondary sectors or directly to consumers. For example, lending money to farmers or industries, buying and selling goods or services, transporting goods or people, communicating information or ideas, teaching or learning skills or knowledge, curing or preventing diseases or injuries, etc.

• India opened up its economy to foreign investment and trade due to the liberalization , privatization , and globalization policies. Liberalization refers to the removal of barriers or restrictions on the entry and operation of private players in various sectors of the economy. Privatization refers to the transfer of ownership or control of public enterprises or assets to private entities. Globalization refers to the integration of national economies with the world economy through trade, investment, migration, etc. These policies increased the competition and efficiency of various service sectors and attracted more capital and technology from abroad.

• The tertiary sector benefited from the growth of the primary and secondary sectors which created more demand for services. The primary sector includes agriculture, forestry, fishing, mining, etc. These are the activities that involve extracting or producing natural resources from land or water. The secondary sector includes manufacturing, construction, and electricity. These are the activities that involve transforming raw materials into finished goods or adding value to them. As these sectors expanded and diversified their production and consumption patterns, they required more services such as banking, trade, transport, communication, etc. to support them.

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