NCERT Books Class 10 Social Science Understanding Economic Development

NCERT Books for Class 10 Social Science

NCERT Books for Class 10 are prepared and published by the National Council of Educational Research and Training (NCERT). It is an independent organisation that offers advice and supports higher-quality educational developments in schools. In terms of educational policies, it also aids the national and state governments. NCERT Solutions for Class 10 are used in the CBSE school curriculum and by the state board. We hope that these NCERT Solutions assist you in your test preparation and help you learn enjoyably and engagingly.

 For the current academic year, the NCERT Book for Class 10 Economics book has been changed (2022-2023). The chapters of the book have been reorganised by the National Council of Educational Research and Training (NCERT). The most recent version of the NCERT Class 10 Economics textbook is available below. Free PDF downloads of the book in Hindi and English are offered here. The Hindi title of the book is “Arthik Vikas Ki Samajh,” whereas the English title is “Understanding Economic Development.”

Class 10 NCERT Books for Social Science – Understanding Economic Development 

Social science is concerned with the systematic investigation of people and their interactions with society. Geography, History, Law, Politics, Sociology, Archaeology and Economics are just a few of the sections it has. You may better comprehend your community and culture by using social science. A crucial component of social science is economic development. It refers to the theories and notions that can be applied to enhance our quality of life through the invention of technology, the generation of jobs and increased income.

Because of this, the NCERT textbook for Class 10 Social Science: Understanding Economic Development, covers a variety of economic development ideas and functions. Every chapter aids in improving a Class 10 student’s reasoning skills. You can practise numerous questions in all of the exercises and activities provided at the end of each chapter.

One of Extramarks’ biggest benefits is that we offer free PDF downloads of NCERT Solutions books for all topics. You can learn quickly by using a variety of diagrammatic representations. Regarding different facets of economic development, our knowledgeable team of educators has put together straightforward and practical hypotheses and solutions.

NCERT Solutions for Class 10 Social Science – Understanding Economic Development

Chapter 1 – Development

Chapter 2 – Sectors of the Indian Economy

Chapter 3 – Money and Credit

Chapter 4 – Globalization and the Indian Economy

Chapter 5 – Consumer Rights

NCERT Books for Class 10 

NCERT Books Class 10 Maths

NCERT Books Class 10 Science

NCERT Books Class 10 English

NCERT Books Class 10 English First Flight

NCERT Books Class 10 English Footprints Without Feet

NCERT Books Class 10 Hindi

NCERT Books Class 10 Hindi Kritika

NCERT Books Class 10 Hindi Kshitij

NCERT Books Class 10 Hindi Sanchayan

NCERT Books Class 10 Hindi Sparsh

NCERT Solutions for Class 10 

NCERT Solutions for Class 10 Maths

NCERT Solutions for Class 10 Science

NCERT Solutions for Class 10 English

NCERT Solutions for Class 10 English First Flight

NCERT Solutions for Class 10 English Footprints Without Feet

NCERT Solutions for Class 10 Social Science

NCERT Solutions for Class 10 Social Science Understanding Economics Development

NCERT Solutions for Class 10 Social Science Democratic Politics

NCERT Solutions for Class 10 Hindi

NCERT Solutions for Class 10 Hindi Kritika

NCERT Solutions for Class 10 Hindi Kshitij

NCERT Solutions for Class 10 Hindi Sanchayan

NCERT Solutions for Class 10 Hindi Sparsh

NCERT Books for Class 10 Social Science – Understanding Economic Development PDF

Extramarks offers quick and simple PDF books that are in line with the most recent CBSE NCERT curricula. All of the books that we offer you are free here. Additionally, there are no registration hassles involved in getting access to the books. We also offer solutions for the reading materials. We will aid in your exam preparation with NCERT textbooks for Class 10 Social Science understanding Economic development.

 At Extramarks, we make sure students receive top-notch resources in PDF books for all Classes and disciplines. You will feel more confident about taking the exam if you practise the exercises that are provided in the chapters.

 Download our extensive collection of study materials to get started studying whenever and wherever you want to prepare for your exams. The NCERT Solutions for Class 10 Science are also available to students at Extramarks.

  For further information, see our most recent NCERT books for Class 10 Social Science: Understanding Economic Development. Here are the first five chapters of the collection of CBSE NCERT books for Class 10.

Chapter 1 – Development 

You can learn more about development in the first chapter of the NCERT textbook for Class 10 Social Science: Understanding Economic Development. Different nations have various ideas on what constitutes development. It is frequently characterised in terms of some national goals, such as improving infrastructure, growing the educational sector and boosting public safety. A country’s overall growth can be evaluated by looking at its economic development. Additionally, terminology like per capita income, attendance rate, gross enrolment ratio, human development index, etc. will be covered.      Various persons may have different development objectives. Something may change for one individual but not for another. For many people, the construction of a new highway, for instance, can be a development. However, that development is completely impossible for the farmer whose land was taken for the building of that highway.

Individuals may require different types of growth. What kind of development a person needs depends on the circumstances of his life. Let’s look at the example of two persons to better comprehend this.

An individual lives in a village from which he must go five kilometres by bus to get anywhere. It will be a development for him if a pucca road is constructed up to his village so that even small vehicles begin travelling there.

On the outskirts of the Delhi Capital Region, another person resides. To get to his office, he must first walk one kilometre to the auto-rickshaw stand. After travelling in an autorickshaw for at least an hour, he eventually arrives at the metro station. He then manages to get to his office after an hour of subway travel. For him, it will be developed if the metro train line runs close to his residence.

Development can have a variety of objectives, as the examples above demonstrate. However, the government and policymakers must set development objectives that will help the greatest amount of people.

Based on national income and per capita income, the United Nations has split the world’s nations into the two categories listed below:

Developed Countries 

Developed nations are those that have utilised industry, trade, transportation and agriculture to the fullest extent possible. In other words, developed countries are those that have raised their national GDP while maximising the utilisation of their natural and human resources. These nations have used scientific, technological and technological methods to grow their economies.

The United States of America, the United Kingdom, Japan and other important developed nations are listed here. These nations’ respective national incomes per capita are $41,480, $33,940, $28,390 and $37,180.

According to human development, Canada, France, Norway, the United States of America, Iceland, the Netherlands, Japan, Finland, New Zealand and Sweden are the top 10 most developed nations in the world.

Developing Countries 

Developing countries are those countries that are not yet prosperous but are working to reach a high level of development. This nation is gradually moving toward economic development thanks to advancements in the commercial and industrial sectors. Due to poor output and heavy population pressure, developing nations frequently experience significant subsistence challenges. Development in the areas of agriculture, industry, commerce and technology has slowed in these nations.

 The per capita income in these nations is comparatively low. The main developing nations include China, India, Egypt, Brazil, Argentina, Pakistan, Myanmar, Iraq, Iran, Bangladesh, Indonesia, Tanzania, and Zaire. India has a per capita income of $530, Bangladesh has $400, China has $1100, Pakistan has $470, and South-East Asian nations have per capita incomes ranging from $850 to $1,800.

  Hong Kong, Cyprus, Barbados, Singapore, the Bahamas, Antigua and Bermuda, Chile, South Korea, Costa Rica, and Argentina make up the top 10 least developed nations in the world in terms of human development.

Income and Other Goals:- 

More money, equality, independence, job stability, dignity, family-friendly amenities, the environment, etc. The concepts of national development are as follows: –

According to the 2006 World Development Report by the World Bank, “Rich or developed nations are those whose per capita income in 2004 was at least Rs. 453,000. Low-income/developing nations are those with annual incomes of less than Rs. 37,000 “nations are referred to.

Development Goals 

Per Capita Income: The amount we obtain is known as per capita income and is obtained by dividing the nation’s total income by its population. The 2006 World Development Report estimates that India’s per capita income is Rs 30,000.

Gross National Product: The Gross National Product is a measure of all the income generated in a nation. The Gross National Product includes the income from all economic activity.

Gross Domestic Product: GDP is the total amount of income generated in a nation after subtracting the proceeds from exports.

Infant Mortality Rate: The infant mortality rate is the percentage of newborns that pass away before becoming one year old per 1,000 live births. The lower this number, the better it is regarded from a development standpoint. A crucial factor is the neonatal mortality rate. It demonstrates the range and calibre of healthcare options in a region. India’s infant mortality rate is 15, per the 2011 census. This demonstrates how poor India’s health services remain even today.

The ratio of male to female: The sex ratio is defined as the proportion of females to males per thousand. If this number is lower, it illustrates how hostile the situation is for women in that nation or state. In India, there are only 940 girls for every 1,000 males, according to the 2011 census.

Probable age at birth: The anticipated age is the oldest a typical adult can live to. 

For your exam preparation, we offer a selection of NCERT solutions and NCERT PDF books for Class 10 Social Science Understanding Economic Development. You will comprehend this chapter more fully as a result. Additionally, you will receive NCERT solutions, which will aid in your success in the exam. Examine the solutions provided in a PDF format and practise responding to all of the questions.

Chapter 2 – Sectors of the Indian Economy 

Economic activity: – Activities that generate income for a living.

Any economy can be broken down into three main sectors:

  1. Primary Sectors
  2. Secondary Sectors

The secondary sector of the economy is the area that uses the output of the primary sector as the basis for its operations. Examples include the iron & steel, textile, automotive, biscuit and cake industries. This sector is often known as the industrial sector since it performs manufacturing operations.

Tertiary Sector 

This industry produces a wide range of services, including those in banking, insurance, education, medicine, tourism, etc.

Public Sector: When the government controls the majority of the assets and renders all services.

Private Sector: The industry where an individual or business controls the possession of assets and the provision of services.

Gross Domestic Product: Information on the nation’s overall production in a given year can be found in the value of the finished goods and services generated by each industry during that year.

The growing role of the tertiary sector in manufacturing is due to:

The tertiary sector has experienced India’s greatest growth during the past forty years.

 There are various causes for this quick expansion, including effective service management, efficient transportation, first-rate storage facilities, increased commercial development, accessibility to education, etc.

  Numerous services, including hospital transportation, banking, postal telegrams, etc., are necessary for every nation. Services like transportation and warehousing are created when agriculture and industry flourish.

 Many services, including restaurants, travel, shopping, private hospitals and schools, among others, become more in demand as money rises. The importance and necessity of some new information and communication technology-based services cannot be overstated.

 When more individuals than needed are employed in a position and they are using less capacity than their output capacity, there is low unemployment, also known as concealed and disguised unemployment. The agricultural industry has a greater underemployment problem, therefore even if we remove some workers from this industry, the production won’t change significantly.

Educated Unemployment: when people with education and training are not hired based on their skills.

Skilled Worker: One with the appropriate training for a job.

Unskilled Labor: They haven’t undergone any training.

Organised Sector: Included are any businesses or jobs where the duration of employment is set. They adhere to established laws and regulations and are registered by the government.

Unorganised Sector:  It is made up of small, dispersed units that operate primarily independently of the government. Here, government regulations are frequently ignored.

Double Counting Problem: This issue emerges when calculating the national income by adding the output values of all the products. As a result, the price of raw materials increases as well. Therefore, for the solution, only the final product’s value should be computed.

Unorganised Sector: Farmers who do not own their land, farm labourers, small-scale and marginal farmers, tenant farmers, sharecroppers, artisans, etc. Industrial employees, construction workers, people involved in trade and transportation, people hauling rubbish and people carrying burdens all need safety in metropolitan settings.

(MGNREGA): The Act, which ensures 100 days of paid employment every fiscal year, intends to give livelihood security to residents of rural areas. Adult participants (those above the age of 18) are paid for performing unskilled labour under this programme.

It is demand-driven labour, social security and law to uphold the “Right to Work.”

The Ministry of Rural Development (MRD) of the Indian Government is implementing the programme in conjunction with the State Governments.

Right to work: Government-guaranteed 100 days of employment per year for capable and destitute rural residents. In the event of failure, unemployment benefits will be provided. It is important to note that tribal communities and areas at risk of drought are eligible for 150 days of employment under the MGNREGA.

MGNREGA Related Challenges

The peasants’ authority is directly impacted by the salary cut, and they lower their demands.

Delay in Payment of Wages: According to a survey, 78 percent of MGNREGA payments are not made on schedule, and 45 percent are delayed by the rules.

Since we offer free PDF versions of NCERT books, you may simply get the knowledge you need. You will learn about a simple economy concept and its sections in this chapter. Primary, secondary and tertiary are the three main sectors. Understanding new terms like gross domestic product (GDP), employment rate, and so on can provide you with a rudimentary understanding of how industrialism has developed.

The issues with unemployment and its solutions are another topic covered in this chapter. You will be informed of its potential by the need for industrial empowerment and agricultural growth. Additionally, through practising solutions, you will gain knowledge of many ideas. You will get in-depth information about India’s economic situation by reading through the NCERT textbooks for Class 10 Social Science Understanding Economic Development.

Chapter 3 – Money and Credit 

The Class 10 Social Science Understanding Economic Development NCERT textbooks assist you in understanding concepts related to money and credit. These are the two key elements that contribute to any nation’s economic growth. Knowing about the evolution of money and its history will be intriguing. The function of banking sectors, currency demonetisation, and a thorough examination of public and demand deposits are all covered in detail in this chapter.

You may have used digital transactions in everyday life. The information about money transfers via mobile devices, the internet, and POS swipe machines is all provided in this chapter. It lessens the necessity of always having cash on hand.

You can find a conceptual analysis of the credit system and its impact on people in the second section. Due to this, Extramarks offers CBSE NCERT books for this subject in a PDF format. At the end of each Chapter, various Exercises and their solutions provide fresh perspectives on the subject. Carefully read the chapters, then do the exercise. You will learn more about the financial and credit systems as a result.

Barter System: Bartering is the exchange of products for other goods.

Metallic Currency: Metal currency is money that is made of any metal, such as gold, silver, nickel and copper.

Banking: Banking is the practice of accepting deposits from the general public on demand, via checks, etc.

Credit: by individuals from banks or private individuals Credit is the term for the money taken.

Bank: A bank is a business that takes deposits to make money. accepts checks as payment and provides loans and advances to clients.

Self-reliant Group / Self-Help Group: A self-reliant group is one created by individuals to safeguard their interests.

Double Coincidence of Needs: It is referred to be a twofold coincidence of needs when needs are satisfied through barter without the need for money.

As a means of exchange, money is said to be simple to trade for any good or service. It serves as a middleman in the trade procedure, doing away with the necessity for a second coincidence.

Chapter 4 – Globalisation and the Indian Economy 

Globalisation – Globalisation is the process by which the economies of different nations around the world converge.

Liberalisation – Liberalisation is the process of governmental limitations and obstacles being lifted or relaxed.

World Bank – The World Bank is a global institution that offers its member nations financial support.

MNCs – a business that manages production across multiple nations.

Privatisation – Privatisation is the gradual transfer of ownership or control of public sector businesses to the private sector.

W.T.O. – W.T.O. stands for The World Trade Organization. Its objective is to liberalise trade internationally.

Current Account – A current account is a term used to describe the exchange of goods and services within a fiscal year as well as the transfer of payments.

Capital Account – The specifics of this are known as a capital account. Stock, brands, real estate and bank deposits can all be purchased, sold or invested as capital.

Flexibility – Flexibility is the term used to describe the legal relaxation provided by the government to support certain businesses.

Investment – Investment refers to the spending of funds on the acquisition of assets such as land, buildings, machines and other equipment such as shares, insurance, fixed deposits, etc.

Free trade – Free trade refers to the unrestricted exchange of goods and services between two nations.

Foreign investment – Foreign investment is when multinational corporations invest to launch a business in a certain nation.

In 1991, the New Economic Policy was implemented in India.

India’s economy is a mixed economy.

The third sector of India’s economy has profited the most from globalisation out of the three sectors.

Fiscal Deficit – A fiscal deficit is when the government makes more money than it spends on programmes.

The role of MNCs, one of the key three drivers of globalisation, is discussed in the following section. Additionally, it describes the distinction between the pre-and post-liberalisation eras. Later, it discusses the significance of liberalisation. You can learn more about globalisation in India in the last section. Students will have a fresh understanding of Indian economic progress after reading this chapter. Therefore, get the free NCERT books in a PDF format and start answering the questions right away.

Chapter 5 – Consumer Rights 

Consumer Rights are covered in the final chapter of the NCERT textbook for Class 10 Social Science Understanding Economic Development. The Consumer Protection Act was passed by the Indian government in 1986 to safeguard customers against unfair and unethical acts. You can get knowledge of the subject by reading the practice portions of the CBSE NCERT books. This chapter offers case studies of how the consumer movement got its start and how hoarding, black marketing and other negative impacts sparked a social movement.

Consumer: Individuals purchase a variety of goods from the market to meet their everyday requirements.

Producer: Producers are those who create daily essentials.

Rights of Consumer:- Consumer rights include the following: the right to protection; the right to information; the right to make choices; the right to remedy; and the right to consumer education.

Reasons for Exploitation of Consumers:-

  • limited information
  • limited supply
  • limited competition
  • low literacy

Duties of Consumers:-

  • Consumers have a responsibility to check the good’s quality before purchasing them. A guarantee card must be taken whenever possible.
  • A receipt for the goods and services must be obtained.
  • You are required to report the genuine issue.
  • ISI only purchases goods that bear Agmark marks.
  • A person must be informed of his rights, and those rights should be used when needed.

Limitations of Consumer Redressal Process:

  • The procedure for consumer redress is proving to be difficult, expensive, and time-consuming.
  • Consumers occasionally need legal assistance. The court proceedings and attendance in these situations take a long time.
  • Most purchases don’t come with receipts. It is difficult to acquire proof under this circumstance.
  • Small retail stores account for the majority of market purchases.
  • Despite legislation protecting workers’ interests being enforced, it is particularly poor in the unorganised sector.

This frequently violates laws and regulations, which is detrimental to the markets.

Consumer Protection Act 1986 (COPRA) :-

a piece of legislation created to safeguard consumer interests.

Courts at the district, state and national levels adjudicate disputes involving claims between Rs. 20 lakh and Rs. 1 crore.

Consumer Movement in India:-

Indian traders have a long history of engaging in adulteration, black marketing, hoarding, underweight, etc. In India, consumer movements first emerged in the 1960s. Such movements were confined to publishing newspaper articles and staging exhibitions prior to the 1970s. But in recent years, the campaign has picked up steam.

  People had no choice but to agitate since they had grown so unsatisfied with the vendors and service providers. After much effort, the government also looked after the public. The Consumer Protection Act (COPRA) was consequently passed by the government in 1986.

Consumer Forum:-

To safeguard the interests of consumers, numerous institutions have been established at the local level in India. Consumer forums and consumer protection councils are the names of these organisations. These organisations’ function is to assist any customer who wants to file a case in consumer court. These groups occasionally represent consumers in consumer court as advocates. The government also provides grants to these institutes so that actual work can be done in the direction of the aforementioned awareness. In many residential communities nowadays, there are resident welfare associations. They also stand up for any association member who has been taken advantage of by a supplier or service provider.

Consumer Court:

It is a three-layered quasi-judicial structure. District-level courts, state-level courts and federal courts are the names of these levels. Cases with claims up to Rs 20 lakh are heard at district-level courts. The state-level courts hear cases ranging in value from Rs 20 lakh to Rs 1 crore. The national consumer courts handle cases with claims worth more than Rs 1 crore. The consumer will be at the state level if a lawsuit is dismissed by the district level court, and following this, there is a right to appeal at the federal level.

National Consumer Day:

The day after Christmas is recognised as National Consumer Day. The Consumer Protection Act was put into effect by the Indian Parliament on this day. One of the few nations with distinct courts for consumer hearings in India. In recent years, India has seen significant growth in the consumer movement. The most recent figures show that India has more than 700 different consumer groups. About 20–25 of them are skilled workers who are well-organised.

However, the procedure for consumer hearings is growing more difficult, pricey and drawn out. Due to the hefty costs of the attorneys, consumers frequently lack the guts to contest the case.

Consumer Protection Act, 2019

In July 2019 and August 2019, respectively, the Lok Sabha and Rajya Sabha approved the Consumer Protection Bill, 2019.

Consumer Protection Act, 2019: The Consumer Protection Act, 2019 is a law that serves to safeguard consumers’ interests. To address the numerous consumer complaints still pending in consumer courts around the nation, this act is absolutely important. It has the tools and resources necessary to swiftly address customer issues.

Objective: The Consumer Protection Act of 2019’s main goal is to develop efficient administration and the necessary power to promptly address consumer complaints and safeguard their interests.

Definition of Consumer: A person who purchases products and services is referred to as a consumer.

You will discover the fundamental causes of client exploitation. The first element is a lack of knowledge about rights. The second is an incorrect application of the laws and guidelines. You will learn about your rights as a consumer after attentively reading the chapter.

FAQs (Frequently Asked Questions)

1. What is the Best Way to Study Class 10 Understanding Economic Development?

Observe the lectures in class. To fully comprehend the definitions and concepts, read the material several times. Use the Understanding Economic Development Class 10 PDF solution file to guide you in structuring the best responses to the exercise questions, strengthening your understanding as you go.

2. Is it important to study Economics in Class 10?

Comparing Economics to other Social Science topics, the Economics syllabus is comparatively condensed. As a result, it becomes even more crucial. To get the highest possible result, you must take notes and thoroughly read through all of the NCERT Solutions for Class 10 Economics. Additionally, bear in mind the key phrases and definitions because these are crucial when formulating responses.

3. Which is the most important Chapter in Class 10 Economics?

You must prepare every Chapter because they are all equally crucial. Additionally, you need to practise all of the NCERT questions from the Extramarks website (, which is where you can find NCERT Solutions for Class 10 Economics. You should also go over all of the major ideas again. The definitions and distinguishing characteristics are crucial since they influence how important your replies are. The Extramarks app offers all the resources for free as well.

4. How can I understand Economics Class 10?

NCERT Solutions for Class 10 Economics is the greatest place to start when learning about Economics. The best way to study Economics is to read everything carefully and then make a list of all the key ideas. After finishing the curriculum, you must attempt the NCERT questions and check your answers using Extramarks’ NCERT Solutions. This will not only help you provide better responses, but it will also enable you to identify any errors you made and prevent them from happening again.

5. Is it difficult to study Class 10 Economics?

No, Economics in Class 10 is incredibly straightforward, has a condensed schedule, and hardly has any sections. Economics in Class 10 only contains four chapters. It is also reality-based, and all you need to know to ace the subject are the key terms and important details. Nevertheless, you should make sure you cover the complete programme and answer cautiously to leave no room for error.

   You will wish to follow the guidelines provided by Extramarks’ skilled instructors for the right answers to the activity questions and put them into practice. For your benefit, download the PDF version of the NCERT Solutions for Class 10 Social Science and Economics from Extramarks.

6. How should one read NCERT books more effectively?

The important techniques that must be used to read NCERT books effectively are listed below –

  • Carefully read each topic, taking the time to comprehend the relevance of each sentence that is part of it.
  • Ask your teacher for clarification on any topics you find complicated or hard to understand.
  • Make a note of the critical information to review before the exam.
  • Respond to all the practice questions that are provided at the end of each chapter. These inquiries are crucial for higher conceptual understanding as well as for examination preparation.

7. Are NCERT books enough to score more than 80% marks in class 10 exams?

Any student’s grade is solely determined by how well they did on the test and in their preparation. By reading NCERT books, you would surely be able to clear out your basics and strengthen them, thereby giving you the ability to deal with the concerns of the exam appropriately. To understand the information provided in the NCERTs, students are recommended to pay close attention and remain focused.

8. What are the advantages of employing the NCERT's critical questions?

Students can benefit from finding answers to these crucial issues. The following are some advantages to practising these questions:

  • While answering these questions, students gain the most insight into time management.
  • The students will have a better understanding of the course framework by practising these questions, which include commonly asked ones from exam papers.
  • By resolving these various problems from each chapter, students will be able to properly review the material.

Browse and discover the crucial inquiries for each Class 10 course. The table above contains the answers to these queries.

We hope that our information about CBSE Important Questions for Class 10 helped students with their academic work. Students enrolled in CBSE Class 10 can also get sample papers, solutions, test advice, projects, etc

9. How can studying economics broaden students' employment options?

An economics graduate can pursue a wide range of opportunities in academics, Indian Economic Services (IES), public policy, management, consulting, analytics, finance and actuarial science, thanks to the subject’s interdisciplinary character and rigour.

10. How does taking an Economics course help students get ready for competitive and entrance exams?

Through its skill-enhancing courses, which make up the bulk of admission and competitive examinations, the Economics department provides the chance to learn about the Indian economy, government budget, research methodology, statistical analysis, data analysis, computational analysis, etc.

11. Is a student who chooses an Economics course still able to pursue extracurricular activities?

The student’s ability to follow her extracurricular hobbies is in no way restricted by the demands of Economics, which merely call for honesty and consistency in the classroom. In athletics, music, dance, drama and other activities, our kids not only participate but also flourish.