Non-Rationalised Economics NCERT Notes, Solutions and Extra Q & A (Class 9th to 12th)
9th					10th					11th					12th

Class 10th Chapters
1. Development	2. Sectors Of The Indian Economy	3. Money And Credit
4. Globalisation And The Indian Economy	5. Consumer Right

Class 10th Economics NCERT Notes, NCERT Question Solutions and Extra Q & A (Non-Rationalised)

1. Development

This chapter explores the multifaceted concept of Development, establishing that it is a complex idea with different meanings for different people. It emphasizes that 'what may be development for one may not be development for the other', and can even be destructive. The chapter argues that development goals are not limited to just higher income ($\textsf{₹}$); people also seek non-material things like equal treatment, freedom, security, and respect. To measure development, it goes beyond the single metric of per capita income and introduces a broader set of criteria, including health indicators like Infant Mortality Rate and education indicators like Literacy Rate and Net Attendance Ratio. By comparing different states and countries using the Human Development Index (HDI), the chapter illustrates that a holistic approach is essential for assessing true progress and well-being.

2. Sectors Of The Indian Economy

This chapter classifies the economy into three distinct sectors based on the nature of economic activity. The Primary Sector involves activities that directly use natural resources, such as agriculture, dairy, and mining. The Secondary Sector covers activities where natural products are transformed into other forms through manufacturing, also known as the industrial sector. The Tertiary Sector, or the service sector, includes activities that support the other two sectors, such as transport, banking, and IT services. The chapter analyzes the historical shift in the contribution of these sectors to India's Gross Domestic Product (GDP) and employment, highlighting the growing importance of the service sector. It also distinguishes between the Organised Sector (with job security and benefits) and the Unorganised Sector (with low wages and insecure jobs) and discusses the persistent problem of underemployment (disguised unemployment) in the agricultural sector.

3. Money And Credit

This chapter explains the pivotal roles of Money and Credit in the economy. It begins by showing how money acts as a medium of exchange, efficiently solving the problem of the 'double coincidence of wants' inherent in a barter system. The chapter details modern forms of money, including currency and bank deposits. It then delves into the functioning of banks, which act as intermediaries between those with surplus funds and those who need funds, providing credit (loans). A crucial distinction is made between the Formal Sector of credit (banks and cooperatives, regulated by the Reserve Bank of India - RBI) and the Informal Sector (moneylenders, traders), where interest rates are often exorbitant and can lead to a debt-trap. The chapter also highlights the role of Self-Help Groups (SHGs) in providing affordable credit to the poor, especially women in rural areas.

4. Globalisation And The Indian Economy

This chapter explores the process of Globalisation and its profound impact on the Indian economy. Globalisation is defined as the rapid integration of countries through increased trade and investment flows, largely driven by Multinational Corporations (MNCs) seeking lower production costs and larger markets. The chapter identifies two key enablers of this process: rapid improvements in technology (especially in transport and communication) and the policy of liberalisation (the removal of government-imposed trade barriers). It analyzes the positive effects of globalisation, such as greater choice and lower prices for consumers and access to foreign investment. However, it also critically examines the challenges, including intense competition for small domestic producers. The role of the World Trade Organization (WTO) in setting rules for international trade is also discussed, along with the need for a more 'fair globalisation' that benefits all.

5. Consumer Right

This chapter emphasizes the importance of Consumer Rights and awareness in a market-based economy where consumers can often be exploited. It traces the origins of the consumer movement, which led to the landmark enactment of the Consumer Protection Act, 1986 (COPRA) in India. This law granted several crucial rights to consumers, including the Right to Safety, Right to be Informed, Right to Choose, Right to be Heard, and most importantly, the Right to Seek Redressal against unfair trade practices. The chapter explains the three-tier quasi-judicial machinery established under COPRA—at the District, State, and National levels—to provide a simple, speedy, and inexpensive system for resolving consumer disputes. It concludes by highlighting that while laws are essential, an aware and assertive consumer is the best safeguard.