NCERT Books

Chapter 6. Open Economy Macroeconomics

Overview• An open economy is one that interacts with other countries through various channels.• Output Market: An economy can trade in goods and services with other countries. This widens choice in sense that consumers and producers can choose between domestic and foreign goods.• Labour Market: Firms can choose where to locate production and workers can …

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Chapter 6. Crisis of Democratic Order

Background to Emergency• In elections of 1971, Congress had given slogan of garibi hatao [remove poverty]. However, social & economic conditions in country did not improve much after 1971-72. Bangladesh crisis had put a heavy strain on India’s economy.• About eight million people crossed East Pakistan border into India. It was followed by war with …

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Chapter 7. Rise of Popular Movements

Chipko Movement• movement began in two or three villages of Uttarakhand [in 1973] when forest department refused permission to villagers to fell ash trees for making agricultural tools.• However, forest department allotted same patch of land to a sports manufacturer for commercial use. This enraged villagers, and they protested against move of government.• villagers demanded …

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Chapter 8. Regional Aspirations

Jammu and Kashmir• Earlier Jammu and Kashmir had a special status under Article 370 of Indian Constitution. However, despite it, Jammu & Kashmir experienced violence, cross-border terrorism, and political instability with internal and external ramifications. It resulted in loss of many lives including that of innocent civilians, security personnel and militants.• Jammu and Kashmir comprises …

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Chapter 1. Overview

Economy• An economy is an area of production, distribution and trade, as well as consumption of goods and services by different agents.• Economy is termed as a system by which people in an area earn their living. Central Problems of an Economy• Production, exchange & consumption of goods and services are among basic economic activities …

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Chapter 3. Production and cost

Production• This is process by which inputs are transformed into ‘output’. Production is carried out by producers or firms.• In order to acquire inputs a firm has to pay for them. It is known as cost of production.• Cost refers to expenditure incurred by a producer on factor as well as non – factor inputs …

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