CBSE Class 9 Social Science Economics Revision Notes

Class 9 Economics Notes

Class 9 Economics Notes CBSE:

The Class 9 Economics notes outline a quick review of the first four chapters of Economics. In  Economics Class 9 notes, students are going to learn major concepts of the chapter that are important for their final examination. Economics Class 9 notes will be a student’s last-minute revision guide providing all the necessary information without missing out on a single topic.

CBSE Class 9 Economics Revision Notes 2023-24

Get Access to CBSE Class 9 Economics Revision Notes for all chapters for the academic year 2023-24

Notes for CBSE Class 9 Economics: 

Class 9 Economics Notes CBSE (add chapterwise economics notes)

Chapter 1: The Story of Village Palampur

Chapter 2: People as Resource

Chapter 3: Chapter Poverty as a Challenge

Chapter 4: Chapter Food Security in India

Class 9 Social Science Economics Revision notes: 

NCERT Class 9 Economics notes: 

These Economics Class 9 notes will help students grasp the numerous concepts discussed in the chapter. These CBSE notes can help students in their exam preparation making it easier and more comfortable to revise the subject thoroughly. By using these notes, students can prepare in a more structured and organised manner, thereby allowing for systematic coverage of each topic and enjoy the process of learning conveniently and effortlessly at their own pace. . Students must move from basic concepts to more challenging ones which bring clarity of concepts to better grasp the topics and help them to answer any challenging question easily.

Chapter 1- The Story of Village Palampur: 

Palampur is a hypothetical story of a village to introduce the materials needed for farming to increase production, which is the main activity in the village. The village Palampur is well-connected to the nearby villages like Raiganj, which is just 3 km away from Palampur. Basically, the story of the village of Palampur is written to describe the importance of modern methods of farming and how farmers can earn income even on a small hectare of land. Land, labour, capital, and human capital are four major factors needed to commence production on a given piece of land. In this chapter, a student will know more about the initial three production factors in the village of Palampur context.

It describes the occupation of 450 families living in Palampur. Out of 450, 150 families are landless and work as farm labourers to make a living, and 240 families own a small plot, measuring fewer than 2 hectares. In addition, 60 families in the village work as medium and large-scale farmers and employ farm labourers. Farmers with small plots borrow money from large-scale farmers, money lenders or traders and take hefty interest rates. Moreover, most farmers in Palampur grow more than two crops in a year because of the fixed availability of cultivable land since 1960.

Apart from farming activities, Palampur people also indulged in non-farm activities like dairy products, wherein the milk is sold to the traders in the Raiganj market and then transported to different towns and cities. Another non-farm activity is transport. The road linking Raiganj to Palampur comprises the movement of various vehicles, including trucks, bullock carts, bogeys (drawn by buffalos, carrying gur), etc. The transport industry of Palampur has given employment to various people. The villagers also have small manufacturing units and shops to earn their living from non-farm activities.

• Important information missing about crops.
• Introduction of HYV seeds and their effect.
• Recent changes in the mode of production and its implications on the three factors of production.
• Both farming and non-farming modes of production are to be discussed with reference to capital and labour and what significance they have for profits and sustenance. Discussion of terms such as ‘fixed capital’.

Chapter 2- People as Resource: 

The chapter ‘People as Resource’ outlines the importance of human capital and how educated human resource can be a vital source of development for the nation. The population is an asset just like fixed or working capital and is referred to as human capital. Like funding or cash is physical capital, human capital investments are also possible, such as in terms of education. However, investment in human capital can offer a greater return in future. Moreover, unlike physical capital, human capital may be used alone (professor or musician).

Moreover, the chapter has highlighted some key areas such as educating girls, which is important for human capital development; skill training should be given via vocational education. Government expenditure in the education sector is still at 3 percent. India has approximately 8.41 lakhs primary schools, the central government has launched Sarva Siksha Abhiyan which aims to provide elementary education to children between the age group of 6 to 14, and so on. Investment in education makes a person skilled and knowledgeable, further developing a nation. As the quality of work enhances, it improves productivity. Higher productivity of a person contributes to the rise in economic development.

Furthermore, a healthy and literate population serves as a good human capital. The quality of a population depends on certain factors, such as a person’s health and literacy rate. It is indicated by skill training formation and life expectancy. The National Policy aims to improve the accessibility of family welfare, nutritional service, and healthcare services, especially for the underprivileged and the deprived section of our society.

Chapter 3- Poverty as a Challenge: 

This chapter highlights the situation of poverty in India and what are the causes of poverty. According to the estimates of 2011-2012, approximately 70% of the population in India is poor. It simply means that every 4th person you encounter falls under this category. There could be two causes of poverty. The first is rural poverty, and the second, is urban poverty. There can be various reasons for poverty, including landlessness, illiteracy, unemployment, poor health or even malnutrition, child labour, and more members of a family.

Moreover, there are some specific groups or sections of our society that are vulnerable to poverty, especially Scheduled Castes and Scheduled Tribes. Furthermore, out of 100 poor people, 43 of them belong to Scheduled Tribes. 34% of them are casual urban, and 23% percent of them belong to the Scheduled Caste communities. Plus, not all states consist of the same proportion of poor people. For instance, Bihar and Orissa are the two poorest states, with poverty ratios of 33.7 and 32.6. On the other hand, the poverty rate has drastically reduced in states like Maharashtra, Kerala, Andhra Pradesh, Tamil Nadu, Gujarat and West Bengal.

There are various causes of poverty, such as exploitation of the Indian population under British rule, huge income disparity and unequal distribution of resources, improper implementation of government policies, farmers taking loans which they are unable to repay, and so on. Moreover, the government has taken various anti-poverty measures like MGNREGA 2005, Pradhan Mantri Gramodaya Yojana 2000, the Rural Employment Generation Program launched in 1995, and Prime Minister Rozgar Yojna of 1993.

Chapter 4- Food Security in India: 

This chapter outlines the problem of food insecurity and how to provide food security to the downtrodden and poverty-stricken population of the country. The Public Distribution System (PDS), along with government vigilance, is usually responsible for ensuring food security for all people in the country. The most affected people by food and nutrition insecurity are landless people. They are traditional artisans and the destitute, including beggars. These workers are engaged in seasonal activities and are paid extremely low wages, which is not even enough for their survival. The SCs, STs, and OBCs are often prone to food insecurity. Moreover, the population which have migrated from other areas in search of work also face food insecurity.

The Food Corporation of India maintains buffer stocks, wherein the government purchases grains from the farmers at a Minimum Support Price (MSP). Then, it distributes them to the economically weaker section of society at a much lower price than the market rate. The shops through which food is distributed are known as ration shops or fair price shops. At present, there are 5.5 lakh ration shops in the country.

Moreover, in the southern and western parts of the country, cooperatives play a major role. Cooperatives have been set up to sell low-priced goods to the economically weaker section of society. For example, in Tamil Nadu, out of all the ration shops, around 94 percent of them are run by cooperatives.