Digieducation Learning Point

 Chapter-3 Economics  Poverty as a Challenge  In our daily life we come across many poor people such as landless labourers in villages, people living in jhuggis, daily wage workers at construction sites, child labourers in dhabas, rickshaw-pullers, domestic servants, cobblers, beggars, etc. • Poverty : Usually the levels of income and consumption are used to define poverty. In India, poverty has been defined as a situation in which a person fails to earn income sufficient to buy him bare means of subsistence.  • Other Indicators of Poverty : Now poverty is looked through other indicators like illiteracy level, lack of access to health care, lack of job opportunities, lack of access to safe drinking water, sanitation, etc. Nowadays, the concept of social exclusion is becoming very common in the analysis of poverty.  • Estimates of Poverty : The incidence of poverty in India was around 55 per cent in 1973 which declined to 36 per cent in 1993 and further to 26 per cent in 200

  Chapter-2 Economics People as Resource : key notes  • Human beings perform many activities which can be grouped into economic and non-economic. Economic Activities: Economic activities refer to those activities of man which are undertaken for a monetary gain or to satisfy his/her wants. The activities of workers, farmers, shopkeepers, manufacturers, doctors, lawyers, taxi drivers, etc. fall under this category. Non-Economic Activities: Non-economic activities are ones that are not undertaken for any monetary gain. These are also called unpaid activities, e.g., Puja-paath, housekeeping, helping the poor or disabled, etc. • Classification of Economic Activities. Various economic activities can be classified into three main sectors, that is primary sector, secondary sector and tertiary sector. The primary sector includes activities like agriculture, forestry, animal husbandry, fishing, poultry, farming and mining. In this sector, goods are produced by exploiting nat

  Chapter – 1 Economics  The Story of Village Palampur - key points  • Village Palampur: Palampur is a small village having about 450 families. It is 3 km away from Raiganj — a big village. Shahpur is the nearest town to the village.  • Main Production Activities: Farming is the main production activity in the village Palampur.  Most of the people are dependent on farming for their livelihood. Non-farming activities such as dairy, small-scale manufacturing (e.g. activities of weavers and potters, etc.), transport, etc., are carried out on a limited scale. • Factors of Production (Or Requirements for Production of Goods and Services): Land, labour and capital are the basic requirements for production of goods and services which are popularly known as factors of production. Land includes all free gifts of nature, e.g., soil, water, forests, minerals, etc. Labour means human effort which of course includes physical as well as mental labour. Physical capital is the third requir