MCQ-
1.Which sector generates services rather than goods?
Ans- Tertiary or Service sector generates services rather than goods.
2.Name two vulnerable groups in urban areas.
Ans-Two vulnerable groups in urban areas are rag pickers and street vendors.
3.What are intermediate goods?
Ans- Intermediate goods are those goods which are used up in the production process to make final goods and services.
4.What are final goods and services?
Ans- Final goods and services are those which reach the consumers for final consumption or capital formation.
5.Define money.
Ans- Money is anything which has common acceptability as a means of exchange, a measure and a store of value.
6.Why is money called ‘a medium of exchange’?
Or
How does money acts as a medium of exchange.
Ans- Money acts as an intermediary in the exchange process, thus it is called a medium of exchange.
7.Why one cannot refuse a payment made in rupees in India?
Ans- One cannot refuse a payment made in rupees in India because it is authorised by the Indian government.
8.What is meant by double coincidence of wants?
Ans- Double coincidence of wants means owner of good X, say shoes, to find someone else with good Y, say a bag of wheat, and both being in need of each other’s good.
9.What is the meaning of barter system?
Ans- A system where goods are directly exchanged, without the use of money, is called barter system.
10.What objects were used as money in India, before the introduction of coins?
Ans- Foodgrains and cattle were used as money before the introduction of coins in India.
11.Which metals were used for making coins in India in later stages?
Ans- Gold, silver and copper coins were used for making coins in later stages in India.
12.Give the modern forms of money.
Ans- The modern forms of money include currency–paper notes and coins and plastic money.
13.The modern currency is accepted as a medium of exchange. Why?
Ans- It is accepted as a medium of exchange because it is authorised by the Government of India.
14.Define a bank.
Ans- A bank is a financial institution whose demand deposits are widely accepted as money for making payments and has the power to create money.
15.What are demand deposits?
Ans- Deposits in the bank accounts, which can be withdrawn on demand are called demand deposits.
16.What is a cheque?
Ans- A cheque is an instrument instructing the bank to pay a specific amount from the person's account to the person in whose name the cheque has been issued.
17.What determines the main source of income for the banks?
Ans- It is the difference between what is charged from the borrowers and what is paid to the depositors or savers, which determines the income of the banks.
18.Define credit.
Or
What do you understand by the term ‘credit’?
Ans- Credit or loan refers to an agreement in which the lender supplies the borrower with money, goods or services in return for the promise of future repayment.
19.For what purpose credit is mainly demanded in rural areas?
Ans- Credit is mainly demanded for the purpose of crop production in rural areas.
20.What is a debt-trap?
Ans- A debt-trap is a situation when it becomes impossible to repay the loan and the borrower adds on a new debt to pay the existing debt.
21.What is collateral?
Ans- Collateral is an asset, such as land, vehicle, building, livestock and deposits with banks, that the borrower owns and uses this as a guarantee to a lender until the loan is repaid.
22.What are the main ‘terms of credit’?
Ans- Interest rate, collateral, documentation requirements and the mode of repayment together comprise ‘terms of credit’.
23.Why are banks unwilling to lend loans to small farmers?
Ans- Banks provide loans after collateral and documentation securities, which generally the small farmers fail to comply with. Therefore, banks are unwilling to give loans to small farmers.
24.What kind of credit is crucial for a country’s development?
Ans- Cheap and affordable credit plays a crucial role in a country’s development.
25.Besides banks, what are the other sources of credit from which the small farmers borrow?
Ans- Besides banks, the small farmers borrow from landlords, moneylenders, traders, relatives and friends etc.
26.What are SHGs?
Ans- They are Self-Help Groups formed by the poor rural women.
27.How does the use of money make it easier to exchange things?
Ans- The use of money makes it easier to exchange things because it is accepted as a medium of exchange, serves as a unit of value and solves the problem of double coincidence of wants.
28.Who issues the currency notes in India?
Ans- In India, the currency notes are issued by the Reserve Bank of India (RBI) on behalf of the central government.
29.For which purpose are a major portion of the deposits with the banks used?
Ans- Banks use the major portion of their deposits to extend loans.
30.Whose signature is found on a 10-rupee note?
Ans- The signature of the Governor of Reserve Bank of India is found on a 10-rupee note.
31.Give an example of how credit pushes a person into debt-trap.
Ans- In a situation of crop failure, loan repayment becomes impossible, so it pushes a person into debt-trap.
32.How many members does a typical SHG comprise of?
Ans- A typical SHG usually comprises 15-20 members.
33.Define a Multinational Corporation (MNC).
Ans- A Multinational Corporation (MNC) is a company that owns or controls production in more than one nation.
34.Which regions are available for a MNC to set up its production?
Ans- A MNC sets up its production where it is close to the markets, where there is skilled and unskilled labour available at low costs and where the availability of other factors of production is assured.
35.Define investment.
Ans- Money that is spent to buy assets such as land, building, machines and other equipments is called investment.
36.What is foreign investment?
Investment made by MNCs is called foreign investment.
37.Why do MNCs set up their offices and factories in those regions where they get cheap labour and other resources?
Ans- To reduce their cost of production and increase their profits.
38.Mention two benefits that local companies get when they set up production units in association with the MNCs.
Ans- The benefits that local companies can get are:
(a) MNCs can provide money for additional investment like buying latest and new machines for faster production.
(b) MNCs might bring the latest technology of production with them.
39.Why had the Indian Government put barriers to foreign trade and foreign investment after independence? State any one reason.
Ans- To save domestic producers from international competition so that they may develop.
40.Why did the Indian Government remove barriers to a large extent on foreign trade and foreign investment?
Ans- Indian Government felt that time has come for Indian producers to compete in international markets.
41.How are the MNCs spreading their production across the globe?
Ans- MNCs are spreading their production across the globe by setting up partnerships with local companies, by using the local companies for supplies and by closely competing with local companies or buying them up.
42.What happens to the sales of the Indian toys when Chinese toys invade the domestic market?
Ans- As a result of the invasion of Chinese toys in the domestic market, the sale of Indian toys fall.
43.Define globalisation.
Ans- Globalisation is the process of rapid integration or interconnection between countries.
44.Due to which reason the latest models of different items are available within our reach?
Ans- Due to Globalisation, the latest variety of different items is available within our reach.
45.Give one major factor that has stimulated the globalisation process.
Ans- Rapid improvement in technology has stimulated the globalisation process.
46.What is meant by trade barrier?
Ans- Tax on imports by the government is called trade barrier. It is called a barrier because some restrictions have been set up.
47.How government can use trade barriers?
Ans- Government can use trade barriers to increase or decrease foreign trade and to decide
what kind of goods and how much of each good should come into the country.
48.What do you think can be done so that trade between countries is more fair?
Ans- All countries should remove trade barriers to make for a fair international trade.
Developed countries should desist from forcing the developing countries in agreements which they themselves may not obey.
49.Why did government of India put barriers to foreign trade and investment after independence?
Ans- Indian government put barriers to foreign trade and investment because it was considered necessary to protect the producers within the country from foreign competition.
50.What is liberalisation?
Ans- Removing barriers or restrictions set by the government is known as liberalisation.
51.What is the aim of World Trade Organisation?
Ans- The aim of World Trade Organisation is to liberalise international trade.
52.How many countries of the world were members of the World Trade Organisation till 2014?
Ans- Till 2014, 160 countries were the members of the World Trade Organisation.
53.Who forced the developing countries to remove the trade barriers?
Ans- World Trade Organisation (WTO) forced the developing countries to remove the trade barriers.
54.Give two examples of Indian Companies which have emerged as Multinational Companies.
Ans- Infosys (IT) and Tata Motors (automobiles)
55.How has globalisation benefited the well-off consumers?
Ans- Globalisation benefited the well-off consumers as there is greater choice before these consumers who now enjoy improved quality and lower prices for several products. As a result, these consumers, today, enjoy much higher standards of living than was possible earlier.
56.What are the benefits of goods or products produced by the MNCs?
Ans- The goods or products produced by the MNCs have a larger number of well-off buyers. In MNCs, new jobs have been created. Also, local companies supplying raw materials etc. to these industries have prospered.
57.Which industries have been hit hard by the competition?
Ans- Industries which have been hit hard by the competition are small-scale industries.
58.Give reasons why India has been able to develop her trade and extend her boundaries.
Ans- Due to better port facilities and the construction of modern ships, India has been able to extend her trade internationally.
59.Which people are responsible for making the products come to the consumers?
Ans- The traders.
60.What is the pre-requiste for the fast development of a country?
Ans- Efficient means of transport.
61.Which type of transport is most important in India.
Ans- Road Transport.
62.What is the Golden Quadrilateral Highway?
Ans- It is major road development project linking Delhi, Kolkata, Chennai and Mumbai.
63.Name the state in which Silcher is located.
Ans- Assam.
64.Which organisation implements the highway projects.
Ans- National Highway Authority of India.
65.Name the extreme locations connected by the east-west corridor.
Ans- Silcher and Porbandar are the extreme locations connected by the east-west corridor.
66.Name the primary road systems of our country.
Ans- National Highways.
67.What are National Highways?
Ans- National highways link all major cities of extreme parts of the country. These are the primary road systems. They are maintained by the Central Public Works Department (CPWD).
68.What are State Highways?
Ans- Roads linking a state capital with different district headquarters are known as State Highways. These roads are constructed and maintained by the Public Works Department (PWD) in the State and the Union Territories.
69.What are district roads?
Ans- Roads which connect the district headquarters with other places of the district are called district roads. These roads are maintained by the Zila Parishad.
70.Which state has the highest number of roads in India?
Ans- Kerala has the highest density of roads in India.
71.What is the average density of roads in India?
Ans- The average density of roads in India is 75 km.
72.Which type of roads received special impetus under Pradhan Mantri Grameen Sadak Yojana?
Ans- Rural Roads received special impetus under the Pradhan Mantri Grameen Sadak Yojana.
73.Name the busiest railway junction in Northern India?
Ans- New Delhi is the busiest railway junction in Northern India.
74.Where are the headquarters for the South-Eastern Railway and Eastern Railway Zones?
Ans- The headquarters for the South-Eastern Railway and Eastern Railway are at Kolkata.
75.Which mode of transportation reduces trans-shipment losses and delays?
Ans- Pipeline transportation reduces trans-shipment losses and delays.
76.Which network of pipelines bring mineral oil to the refinery of Barauni and the petrochemical complex of Haldia?
Ans- The Pipeline from the Upper Assam oilfields to Kanpur in Uttar Pradesh brings mineral oil to the refinery of Barauni and the petrochemical complex of Haldia.
77.Which is the deepest land-locked and well-protected port along the east coast?
Ans- Vishakhapatnam is the deepest land-locked and well-protected port along the east coast.
78.Which port was the first to be developed soon after Independence?
Ans- Kandla port was the first port to be developed soon after independence.
79.Name the oldest artificial port of India.
Ans- Chennai port is the oldest artificial port of India.
80.Which airline is the nationalized airline of India?
Ans- Air India
81.Give two reasons why the modern generation still prefers to travel by air, in spite of it being more expensive than the other means of transport.
Ans- In spite of being more expensive, air transport is still preferred because it is faster and more convenient.
82.Which term is used to describe trade between two or more countries?
Ans- International Trade.
83.Give two examples of personal communication.
Ans- The two examples of personal communication are letters and phone.
Today people all over the world enjoy the Olympic Games and cricket matches sitting at home.
84.How has this been possible?
Ans- This has been made possible by integrating the development in space technology with communication technology.
85.Which two factors were responsible for the expansion of trade and transport?
Ans- Science and technology
86.Give the full form of CPWD.
Ans- Central Public Works Department
87.Which two end cities does the National Highway No 7 join?
Ans- Varanasi and Kanyakumari
88.Who maintains the State Highways?
Ans- The State Public Works Department (P.W.D)
90.Name the process which helps in rapid integration or interconnection between countries?
Ans- Globalisation
91. Name the agency that forces the developing countries to liberalize the trade?
Ans- World Trade Organisations
92. What can be used to reduce foreign trade?
Ans- Trade barriers
93. What is the per day capacity of the Cargill Foods to make Oil Pouches?
Ans- Five million pouches
94. Name the institution that put pressure on the developing countries to liberalize trade and investment?
Ans- World Trade Organization
95. Give a most common route for investments by MNCs in developing countries around the world?
Ans- The common route is by forming partnership with local companies
96. How many times the Constitution of Belgium was amended between 1970 and 1993 ?
Ans- 4 times
97. Who elects the community government in Belgium ?
Ans- People belonging to one language community only
98. In which one of the following countries principle of majoritiatianism led to civil war ?
(A) Pakistan (B) Sri Lanka (C) Belgium (D) India
Ans- Sri lanka
99. Division of powers between higher and lower levels of government is called
(A) Horizontal distribution (B) Parallel distribution (C) Vertical division (D) Diagonal division
Ans- Vertical division
100. How much population of Belgium speaks German language?
(A) 1% (B) 40% (C) 59% (D) 100%
Ans- 1%
ASSIGNMENTS
Q.1. Name the novel written by Mr. Durgacharan Ray on the city of Kolkata and what was its theme?
Q.2. Name the factor which changed the form of urbanization in the modern world.
Q.3. When was the first section of the underground railways in the world opened?
Q.4. What was the Chartist Movement?
Q.5. What is meant by Reclamation?
Q.6. How are the cities are a challenge to environment?
Q.7. How do cities lead to pollution?
Q.8. Name some of the positive and negative aspects of city life about Kolkata?
Q.9. Which historical processes have shaped the modern cities in a decisive way?
Q.10. Which Act saved children from child labour in England?
Q.11. Which two factors enabled large number of people to live outside London and travel to work?
Q.12. What social change was brought by the Industrial Revolution in England?
Q.13. What factors gave rise to planning in London and Mumbai?
Q.14. Give some chief characteristics of cities.
Q.15. Give two reasons why the population of London expanded from the middle of the 18th century.
Q.16. What were the changes in the kind of work available to women in London between 19th and 20th Century? Explain the factors which led to these changes.
Q.17. What forms of entertainment came up in 19th Century England to provide leisure activities for the people?
Q.18. To what extent do the Government regulations and new laws solve the problem of pollution? Discuss one example each of success and failure of legislation to change the quality of :
(i) Public life and (ii) Private life
Q.19. Why a number of Bombay films are about the lives of the migrants?
Q.20. Why was the development of underground railways in London criticized?
Q.1. Name the novel written by Mr. Durgacharan Ray on the city of Kolkata and what was its theme?
Q.2. Name the factor which changed the form of urbanization in the modern world.
Q.3. When was the first section of the underground railways in the world opened?
Q.4. What was the Chartist Movement?
Q.5. What is meant by Reclamation?
Q.6. How are the cities are a challenge to environment?
Q.7. How do cities lead to pollution?
Q.8. Name some of the positive and negative aspects of city life about Kolkata?
Q.9. Which historical processes have shaped the modern cities in a decisive way?
Q.10. Which Act saved children from child labour in England?
Q.11. Which two factors enabled large number of people to live outside London and travel to work?
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