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Karnataka Class 11 Commerce Economics NCERT Solution For 2017 Exams

Karnataka Class 11 Commerce Economics NCERT Solution For 2017 Exams

Karnataka Class 11 Commerce Economics NCERT Solution : Karnatak University is a state university located in the city of Dharwad in the state of Karnataka in India. It was established in October 1949, and officially inaugurated in March 1950. The campus spans 750 acres (3 km²). D. C. Pavate was the first official vice-chancellor from 1954 to 1967. The rapid development of the institution is credited to him.

The university was recognized with the “Potential for Excellence” by the University Grants Commission. The university is the second oldest university in the state of Karnataka after the University of Mysore. The Karnatak university once used to serve most of the Karnataka region including Dharwad, Belagavi, Uttara Kannada, Bijapur, Gulbarga, Raichur, Bidar and Bellary. until the 1980s (Manipal Institute of Technology and the Kasturba Medical College of Manipal were affiliated with Karnatak University at Dharwad and all degrees were awarded by Karnatak University in between the years from 1953 to 1965)

The bifurcation of districts and establishment of new universities in this region has reduced the affiliation coverage of Karnatak university to the present day districts of Dharwad, Uttara Kannada, Haveri and Gadag.

Karnataka Class 11 Commerce Economics NCERT Solution For 2017 Exams

Karnataka Class 11 Commerce Economics NCERT Solution : Here we provides complete details about Karnataka Class 11 Commerce Economics NCERT Solution For 2017 Exams and other Karnataka Class 12 Commerce Economics important notes in pdf format. Here we provide direct download links for Karnataka Class 11 Commerce Economics NCERT Solution For 2017 Exams in pdf format. Download these Karnataka Class 11 Commerce Economics NCERT Solution For 2017 Exams in pdf format and read well.

Karnataka Class 11 Commerce Economics NCERT Solution For 2017 Exams

Karnataka Class 11 Commerce Economics NCERT Solution : Economics is a good major because of the wide range of career opportunities available to graduates. Many of the skills learned during an economics major can also be applied to other areas of life, including business and personal life. Economics is not just money. It’s businesses and how they work. It’s lemonade stands and how many dollars they take in. It’s toy collecting and baseball card collections. It’s taxes and allowances. It’s stocks and bonds. Economics is part of almost everything you could ever think about. Find about how by visiting the links on this page.

One of the main benefits of studying economics is that it opens up a number of job opportunities. Some examples of industries that regularly recruit economics graduates include banking, finance, sales and civil service. The insurance industry also recruits a large number of economics graduates.

As an economics major, a student learns about a wide range of economic problems and theories. This knowledge is often valuable to businesses, as economists can help to predict how changes to the economy are likely to affect the company. Economics graduates are also adept at recognizing when a solution is likely to cause unintended consequences, which is another useful skill in the workplace. A solid understanding of economics enables a person to make decisions using a focused, analytical approach.

An economics degree does not guarantee a highly paid job, although it does increase the chances. Whether an economics major is the right choice depends largely on the individual student. Many economics majors choose to double major in finance, political science or psychology to build a comprehensive foundation for future careers.

You can also download linear inequalities class 11 Commerce ncert solutions from this article.

Karnataka Class 11 Commerce Economics NCERT Solution For 2017 Exams

Karnataka Class 11 Commerce Economics NCERT Solution : The main focus of the economic policies pursued by the colonial government was to make India a mere supplier of Britain’s own flourishing industrial base. The policies were concerned mainly with the fortification and advancement for their home country. The interests of the Indian economy were completely ignored. Such policies brought structural changes in the Indian economy by transforming it to a supplier of raw materials and consumer of finished products from Britain. The impacts of these policies are discussed as follows in detail;Low Economic Development Throughout the British rule, Indian economy experienced very low level of economic development. As per some researches, Indian economy grew at even less than two percent during 1900-50. The reason for such a low level of development was that the British government was more concerned with the promotion of economic interests of their home country.

class 11 commerce ncert solutions:-NCERT Solutions for Class 11 Economics

Q1 :  Make a list of activities that constitute the ordinary business of life. Are these economic activities?

Answer :The following are the activities that constitute the ordinary business of life:

1. Buying of goods and services.

2. Rendering services to a company by employees and workers.

3. Selling of goods and services.

4. Production process carried out by a firm.

Yes, the above mentioned activities are regarded as economic activities. This is because, these activities involve the use of scarce resources to carry out production, consumption, saving, investment, etc. These activities involve the exchange of money to earn livelihood.

Q2 :  What was the focus of the economic policies pursued by the colonial government in India? What were the impacts of these policies?

Answer : The main focus of the economic policies pursued by the colonial government was to make India a mere supplier of Britain’s own flourishing industrial base. The policies were concerned mainly with the fortification and advancement for their home country. The interests of the Indian economy were completely ignored. Such policies brought structural changes in the Indian economy by transforming it to a supplier of raw materials and consumer of finished products from Britain. The impacts of these policies are discussed as follows in detail;

i. Low Economic Development 

Throughout the British rule, Indian economy experienced very low level of economic development. As per some researches, Indian economy grew at even less than two percent during 1900-50. The reason for such a low level of development was that the British government was more concerned with the promotion of economic interests of their home country. Consequently, the colonial rule transformed India’s agriculture sector to a mere supplier of raw materials for the British industries. This not only affected the production of the agricultural sector but also ruined the small manufacturing units like handicrafts and cotton industries. These manufacturing units faced a stiff competition from the British machine made textiles and handlooms.

ii. Backwardness of Indian Agriculture

Under the colonial rule, India was basically an agrarian economy employing nearly 85% of its population. Nevertheless, the growth of the agriculture sector was meager. This was due to the prevalence of various systems of Land Settlement, particularly Zamindari system. Under this system, the zamindars (owners of land) were required to pay very high revenue (lagaan) to the British government, which they used to collect from the peasants (landless labourers, who were actually cultivating). The zamindars were mainly concerned with extracting high revenues from the peasants but never took any steps to improve the productivity of the land. Moreover, in order to feed British industries with cheap raw materials, the Indian peasants were forced to grow cash crops (such as, indigo, cotton, etc.) instead of food crops (such as, rice and wheat). This commercialisation of agriculture not only increased the burden of high revenues on the poor peasants but also led India to face shortage of food grains. Therefore, Indian agriculture remained backward and primitive.

iii. Deindustrialisation of Indian Economy

India failed to develop a sound and strong industrial base during the colonial rule. The status of industrial sector during the British rule can be well defined by the term ‘systematic deindustrialisation’. The cause of deindustrialisation can be attributed to the downfall of India’s handicraft industry and the cause of bleak growth of modern industry was the lack of investment. On one hand, the British government imposed heavy tariffs on the export of Indian handicraft products and on the other hand, allowed free exports of Indian raw materials to Britain and free imports of British products to India. As a result of the heavy tariffs, the Indian exports became costlier and its demand in the international market fell drastically that led to the collapse of Indian handicrafts industries. Simultaneously, the demand for the handicrafts products also fell in the domestic markets due to stiff competition from the machine made textiles of Britain. As a result, the domestic industries lacked investment and growth initiatives.

iv. Regression in Foreign Trade

During the colonial rule, the British government owned the monopoly power over India’s foreign trade. The British government used the trade policy according to the interests of their home country. The exports and imports transactions were restricted only to India and Britain. On one hand, the exports from India provided the cheap raw materials to the British industries and on the other hand, India’s imports from Britain provided a virgin market for Britain’s products. In either ways, British industries were benefitted. Moreover, the surplus generated from t foreign trade was not invested in the Indian economy; instead it was used in administrative and war purposes by Britain to spread their colonial power.

Q3 :  Name some notable economists who estimated India’s per capita income during the colonial period.

Answer : As the British government was never interested in upliftment of our country, so they never took any initiative to measure India’s national and per capita income. Though some of the economists tried to estimate India’s national income and per capita income during the colonial rule, but the results are mixed and conflicting. The following are some of the notable economists who were engaged in estimation of national income and per capita income:

i. Dadabhai Naroji

ii. William Digbay

iii. Findlay Shirras

iv. V.K.R.V Rao

v. R.C. Desai
Out of these, V.K.R.V Rao’s estimates are considered to be significant. Most of these studies revealed that Indian economy grew at even less than two percent during 1900-50 with half per cent growth in per capita output per year.

Q4 :  Define a plan.

Answer : A plan is a proposed list of goals that an economy wants to achieve within a specific period of time. It suggests the optimum ways to utilise the scarce available resources to achieve the enlisted goals. In India, planning is done for a period of five years, which is called five year plan. Plans have both specific and general goals. Some of the common goals are economic growth, modernisation, self-reliance and equity. Plans lay down the basic framework over which the policies are designed. Often various goals are conflicting to each other, for example, modernisation reduces labour employment. So there is a need to maintain a balance among different goals.

Q5 :  Why did India opt for planning?

Answer : Soon after independence, India faced an important choice to opt either for capitalism or socialism. Finally, India, inspired by the extraordinary success of planning in Soviet Union, opted for socialism. Although, Indian political and economic conditions were not as favourable as it was for Soviet Unions to opt for socialism, yet India adopted socialism but with a difference. India hinged upon the socialist idea with a strong emphasis on public sector and active participation of the private sector in a democratic framework. The Planning Commission (1950) was established with the motive that the government would undertake comprehensive planning for the nation as a whole, where public sector would lay down the basic economic framework and would encourage private sector for their active contribution to the economic growth.

class 11 commerce economics question paper

Karnataka Class 11 Commerce Economics NCERT Solution For 2017 Exams

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