{ cessive interdependence fileoswaal icse mind maps, economics, class-x | 1 ( 1 ) n a sl s...
TRANSCRIPT
Oswaal ICsE Mind Maps, economics, Class-X | 1
( 1 )
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Chap
ter
- 1 Th
e pr
odu
ctive
Mec
hanism
The P
rod
ucti
ve
Mecha
nis
m
•L
abo
ur
can
no
t b
e se
par
ated
fro
m l
abo
ure
r•
Lab
ou
r ca
nn
ot
be
accu
mu
late
d•
Su
pp
ly o
f la
bo
ur
chan
ges
ov
era
per
iod
of
tim
e•
Lab
ou
r is
mo
bil
e•
Lab
ou
r v
arie
s in
eff
icie
ncy
•L
abo
ur
is b
egin
nin
g a
nd
en
d o
f p
rod
uct
ion
(Fac
tors
/cau
ses
beh
ind
lo
w e
ffic
ien
cyo
f la
bo
ur
in I
nd
ia :
)•
Ho
t an
d e
ner
vat
ing
cli
mat
e•
Lo
w w
ages
•In
adeq
uac
y o
f m
ach
iner
y, e
qu
ipm
ent
and
raw
mat
eria
l•
Un
con
gen
ial
fact
ory
en
vir
on
men
t•
Mig
rato
ry c
har
acte
r•
Lac
k o
f ed
uca
tio
n a
nd
tra
inin
g
•In
crea
se i
nef
fici
ency
of
lab
ou
r•
Imp
rov
emen
t in
qu
alit
y•
Ris
e in
pro
fits
•R
edu
ce a
ver
age
cost
•R
ise
in s
tan
dar
d o
f li
vin
g
Pro
du
cti
on
issp
lit
into
div
ers
ep
art
sa
nd
ma
ny
wo
rker
sco
me
mu
tual
lyto
fin
ish
th
e w
ork
bu
t th
e in
pu
to
fea
chw
ork
erca
nn
ot
be
kn
ow
n
•F
ree
gif
t o
f n
atu
re•
Pri
mar
y f
acto
r o
f p
rod
uct
ion
•In
des
tru
ctib
le•
Exc
essi
ve
use
red
uce
s p
rod
uct
ivit
y•
Per
fect
ly i
nel
asti
c su
pp
ly a
s su
pp
lyo
f la
nd
is
fixe
d•
Het
ero
gen
ou
s Pro
du
ctio
nis
spli
tu
pin
tod
iffe
ren
tp
art
sa
nd
each
par
t is
per
form
ed b
yd
iffe
ren
tw
ork
ers
wh
oar
e sp
ecia
lize
d i
n i
t.
Pro
du
ctio
no
fp
art
icu
lar
go
od
sis
focu
sed
ata
pla
ce(s
tate
or
nat
ion
) an
d w
ork
ers
wh
oar
esp
ecia
lize
din
the
pro
du
ctio
no
fth
ose
go
od
sar
efo
un
dat
ap
arti
cula
rp
lace
,e
.g.,
Jute
ind
ust
ryin
Ko
lkat
a.
Pro
du
ctio
nis
div
ided
into
va
rio
us
succ
ess
ive
sta
ge
san
dd
iffe
ren
tw
ork
ers
wit
hd
iffe
ren
t ab
ilit
ies
per
form
at
dif
fere
nt
stag
es.
Typ
es
Bea
rs t
he
risk
reg
ard
ing
:•
Un
cert
ain
itie
s at
tach
ed t
o p
rod
uct
ion
, in
ves
tmen
t,d
eman
d f
or
pro
fits
•R
isk
of
tech
no
log
ical
ob
sole
scen
ce•
Ris
k o
f ch
ang
es i
n g
ov
ern
men
t p
oli
cies
Dep
end
s u
po
n a
bil
ity
to
sav
e, w
illi
ng
nes
s to
sav
ean
d o
pp
ort
un
ity
to
sav
e w
hic
h f
urt
her
dep
end
s o
n :
•P
rofi
t o
f p
ub
lic
sect
or
ente
rpri
ses
•Tr
ade
con
dit
ion
s•
So
cial
cu
sto
ms
•G
ov
ern
men
t P
oli
cies
•P
eace
an
d s
ecu
rity
•F
arsi
gh
ted
nes
s o
f p
eop
le
•E
nsu
re t
hat
eac
h f
acto
r o
f p
rod
uct
ion
is p
rop
erly
rem
un
erat
ed•
En
sure
th
e p
rop
er u
tili
zati
on
of
reso
urc
es a
nd
eff
ecti
ve
con
trib
uti
on
of
thes
e re
sou
rces
•P
rop
erly
uti
lizes
the
lab
ou
rfo
rce
•P
lay
sth
ero
leo
fin
no
vat
or
•G
ener
ates
emp
loy
men
t•
Gen
erat
esco
mp
etit
ion
inth
eec
on
om
y•
Mo
bili
zes
idle
sav
ing
of
the
pu
blic
(cap
ital
form
atio
n)
Fac
tor
Aff
ecti
ng
:•
Qu
alit
ies
of
lan
d,e
.g.,
flat
and
lev
elle
dla
nd
wil
lbe
mo
rep
rod
uct
ive
•M
ean
so
fir
rig
atio
n,
e.g
.,d
rip
irri
gat
ion
,sp
rin
kle
rir
rig
ati
on
me
tho
d(m
od
ern
)w
ill
incr
ea
sep
rod
uct
ivit
y•
Pro
per
use
ofl
and
,e.g
.,fe
rtil
ela
nd
mu
stb
eu
sed
for
agri
cult
ure
and
bar
ren
lan
dfo
rco
nst
ruct
ion
of
ho
use
s.•
Lo
cati
on
,e.
g.,
lan
dn
ear
wat
erre
sou
rces
wil
lb
em
ore
pro
du
ctiv
e•
Inv
estm
ent
on
lan
d,
e.g
.,in
ves
tmen
tin
mo
der
neq
uip
men
ts.
Lan
d(A
llp
hy
sica
lla
nd
mat
eria
l res
ourc
esp
rov
ided
by
nat
ure
asfr
eegi
ft)
•To
fo
rm s
ou
nd
in
fras
tru
ctu
re•
Fo
r o
pti
mu
m u
se o
f n
atu
ral
reso
urc
es•
Fo
r o
pti
mu
m u
se o
f h
um
an c
apit
al•
To i
mp
rov
e te
chn
olo
gy
•F
or
agri
cult
ura
l an
d i
nd
ust
rial
dev
elo
pm
ent
•F
or
hig
h r
ate
of
eco
no
mic
gro
wth
•P
assi
ve
fact
or
of
pro
du
ctio
nas
it
is r
esu
lt o
f la
bo
ur
•P
rod
uct
ive
fact
or
•V
alu
e o
f it
go
es o
n d
epre
ciat
ing
•S
up
ply
of
it v
arie
s o
ver
tim
e•
Yie
lds
rev
enu
e
Cap
ital
(All
tho
seg
oo
ds
wh
ich
are
use
dfo
rp
rod
uct
ion
of
oth
erg
ood
s)
Typ
es
•A
ble
en
trep
ren
eurs
•O
pti
on
s o
f in
ves
tmen
t•
Ban
kin
g f
acil
itie
s
Dis
trib
uti
ve
fun
ctio
ns
Functions
Adva
ntage
s
(En
terp
ren
eur)
(per
son
wh
o c
arri
es t
he
risk
of
bu
sin
ess
and
co
-ord
inat
esth
e ac
tiv
itie
s o
f al
l th
eo
ther
fac
tors
of
pro
du
ctio
n)
(Div
isio
n o
f la
bo
ur)
(Div
idin
g t
he
wo
rk i
n p
arts
and
ass
ign
ing
eac
h p
art
acco
rdin
g t
o a
bil
ity
&ap
titu
de
of
wo
rks)
Pro
du
ctio
nis
spli
tin
tod
iffe
ren
tp
arts
and
all
par
t ru
n s
imu
ltan
eou
sly
•M
on
oto
ny
of
wo
rk•
Lo
ss o
f cr
eati
vit
y•
Lac
k o
f re
spo
nsi
bil
ity
•E
xces
siv
e in
terd
epen
den
ce{•
Co
nce
ivin
g t
he
idea
of
bu
sin
ess
•E
stim
atio
n o
f d
etai
ls i
s o
f b
usi
nes
san
d i
mp
lem
enta
tio
n o
f th
e sa
me
•C
o-o
rdin
atio
n f
or
sup
erv
isio
r(r
egar
din
g o
ther
fac
tors
of
pro
du
ctio
n &
res
ou
rces
)•
Inn
ov
atio
n
{
•Q
uan
tita
tiv
e m
easu
re o
f th
e p
hy
sica
lp
rod
uct
ive
cap
acit
y.•
Use
d f
or
pro
du
ctio
n•
E.g
., m
ach
iner
y, p
lan
t, e
tc.
•M
on
etar
y v
alu
e o
f th
e n
et a
sset
s fr
om
the
inv
estm
ent
by
sto
ck h
old
ers
as w
ell
as r
atai
ned
ear
nin
gs
2 | Oswaal ICsE Mind Maps, economics, Class-X
( 2 )
To know about more useful books for class-10 click here
Chap
ter
- 2
Dema
nd a
nd E
lasticity
of
Dema
nd
Dem
and
and
Ela
stic
ity
of D
ema
nd
Mea
ningR
esp
on
siv
enes
so
fth
eory
of
dem
and
in
res
po
nse
to
ch
ang
ein
in
com
e.
Res
po
nsi
ven
ess
of
dem
and
in
res
po
nse
to
ch
ang
e in
pri
ce o
f re
late
d g
oo
ds
(su
bst
itu
te/c
om
ple
men
tary
)R
esp
on
siv
enes
s o
f d
eman
d i
n r
esp
on
se t
och
ang
e in
pri
ce o
f co
mm
od
ity.
Per
cen
tag
e C
han
ge
in Q
uan
tity
Dem
and
——
——
——
——
——
——
——
——
——
Per
cen
tag
e ch
ang
e in
Pri
ceE
=d
Per
cen
tag
e ch
ang
e in
dem
and
is l
ess
than
per
cen
tag
e ch
ang
e in
pri
ce.(
ep<
1)
Sm
all
chan
ge
in p
rice
cau
ses
maj
or
or
infi
nit
ech
ang
e in
dem
and
.
(ep
=)
�N
och
ang
ein
de
ma
nd
wit
hch
ang
e in
pri
ce.
Per
cen
tag
e ch
ang
e in
dem
and
is e
qu
al t
op
erce
nta
ge
chan
ge
in p
rice
.
Per
cen
tag
ech
ang
ein
dem
and
is m
ore
th
anp
erc
en
tag
ech
an
ge
in p
rice
.(ep
>1)
•N
atu
re o
f co
mm
od
ity
•P
rop
ort
ion
of
tota
lex
pen
dit
ure
in
vo
lved
•A
vai
lab
ilit
y o
f su
bst
itu
tes
•M
ult
ipu
rpo
se u
se o
f g
oo
ds
•P
rice
lev
el•
Dis
trib
uti
on
of
inco
me
•H
abit
, tas
tes
and
cust
om
s•
Po
ssib
ilit
ies
of
po
stp
on
emen
to
f co
nsu
mp
tio
n
Demand
Ref
ers
tov
ario
us
qu
anti
ties
of
aco
mm
od
ity
wh
ich
con
sum
er
pu
rch
ase
at a
giv
en p
rice
an
dat
a g
iven
tim
e.
Ref
ers
to v
ario
us
qu
anti
ties
of
a co
mm
od
ity
wh
ich
aco
nsu
mer
pu
rch
ase
atd
iffe
ren
tin
com
e le
vel
s.
Occ
urs
as
the
resu
lt o
f ch
ang
es i
n p
rice
of
rela
ted
go
od
s (s
ub
stit
ute
/co
mp
lem
enta
ry).
Dem
and
for
go
od
sw
hic
har
ed
eman
ded
tog
eth
er t
o s
atis
fy s
ame
wan
t, e
.g.,
pet
rol
and
car,
pen
an
din
k, e
tc.
Dem
and
for
go
od
s w
hic
h h
ave
alte
rnat
ive
use
s, e
.g.,
coal
, cu
red
oil
, etc
.
Cre
ated
by
in
crea
se i
n d
eman
do
f a
par
ticu
lar
pro
du
ct,
e.g
.,in
crea
sein
dem
and
of
war
mcl
oth
ing
rai
ses/
cre
ated
the
dem
and
of
yar
n.
•P
rice
of
the
pro
du
ct•
Inco
me
of
the
con
sum
er•
Pri
ce o
f re
late
dg
oo
ds
•C
on
sum
er's
tas
te a
nd
pre
fere
nce
s•
Eco
no
mic
co
nd
itio
ns
•G
ov
ern
men
t p
oli
cies
Tab
ula
rp
rese
nta
tio
nsh
ow
ing
var
iou
sq
uan
titi
eso
fa
com
mo
dit
yth
ata
con
sum
er i
s w
illi
ng
an
dab
le t
o b
uy
at
var
iou
sle
vel
so
fp
rice
,d
uri
ng
ag
iven
per
iod
of
tim
e.
Tab
ula
rp
rese
nta
tio
no
fv
ario
us
qu
anti
ties
that
all
con
sum
ers
are
wil
lin
g t
o b
uy
at
var
iou
s p
rice
lev
els
du
rin
g a
giv
en p
erio
do
f ti
me.
Gra
ph
ica
lp
rese
nta
tio
no
fv
ar
iou
sq
ua
nt i
t ie
sd
eman
ded
by
an
in
div
idu
alc
on
su
me
ra
td
iffe
ren
tp
rice
s
Gra
ph
ical
pre
sen
tati
on
of
com
bin
edd
eman
ds
of
dif
fere
nt
ind
ivid
ual
con
sum
ers
atd
iffe
ren
tp
rice
s.
Fal
l in
qu
anti
ty d
eman
ded
du
e to
ris
e in
pri
ce Ris
e in
qu
anti
ty d
eman
ded
du
eto
fal
l in
pri
ce.
•P
rice
so
fth
ere
late
dg
oo
ds
rem
ain
the
sam
e.•
Th
e in
com
e o
f co
nsu
mer
s re
mai
ns
un
chan
ged
.•
Tast
e an
dp
refe
ren
ces
rem
ain
un
chan
ged
.
•In
feri
or
Go
od
s•
E.g
., co
arse
cer
eals
lik
e jo
war
, baj
ra, e
tc.
•L
uxu
ry G
oo
ds
•E
.g.,
Dia
mo
nd
, Lu
xury
car
s, e
tc.
•U
niq
ue
com
mo
dit
y h
avin
g p
rest
ige
val
ue
•E
.g.,
rare
wo
rks
of
art
Psy
cho
log
ical
ph
eno
men
on
to
hav
e a
go
od
or
pro
du
ct b
ecau
se o
ther
s h
ave
it.
•F
ash
ion
rel
ated
go
od
s•
Fea
r o
f sh
ort
age
•S
pec
ula
tiv
e ac
tiv
itie
s•
Fu
ture
ch
ang
es i
n p
rice
`1
`2
`3
`4
10 K
g
8 K
g
6 K
g
5 K
g
Pri
ceA
's D
eman
d
1 2 3 4
56
11
45
9
34
7
23
5
Pri
ce (
)`A
's D
eman
d (
kg
)B
's D
eman
d (
kg
)M
ark
et D
eman
d (
kg
)
Law
of
Dem
and
:(o
ther
thin
gs
bei
ng
equ
al,
ther
eis
inv
erse
rela
tio
nsh
ipb
etw
een
pri
ceo
fco
mm
od
ity
an
dit
sq
uan
tity
dem
and
ed)
Incr
ease
in
Dem
and
(In
crea
sein
dem
and
du
eto
chan
ge
infa
cto
rso
ther
than
ow
np
rice
of c
om
mo
dit
y)
Dec
reas
e in
Dem
and
(Dec
reas
eo
rfa
llin
dem
and
du
eto
chan
ge
infa
cto
rso
ther
than
ow
np
rice
of c
om
mo
dit
y)
Ela
stic
ity
of
Dem
and
:(R
es
po
ns
ive
ne
ss
of
dem
and
inre
spo
nse
toch
ang
esin
fact
ors
lik
ep
rice
,in
com
e,et
c.)
Qu
anti
typrice
X
Y
D
O
e=
1p
D
QX
Y
D
price
OQ
uan
tity
P1
P2
P3
(e=
0)
p
(e=
0)
p
Qu
anti
ty D
eman
ded
(un
its)
X
Y
D
D
price
OQ
1Q
2
P1
P2
Qu
anti
ty
e<
1p
uan
tity
price
X
Y
D
O
e=
p�
Qu
anti
ty D
eman
ded
x
X
O
DAD
D
DM
Dis
fla
tter
M
than
Dan
dD
AD
Qu
anti
ty D
eman
ded
x
y
D
D
O
x
y
O
Incr
ease
Q1
2
Dec
reas
e
D1D
D2
Qu
anti
ty D
eman
ded
x
y
D
D
(price)
(price)(price)
(price)
OP P1
1
Qu
anti
ty D
eman
ded
x
y
D
D
price () ` OP
1
P1
X
Y
D
D
price
OQ
1Q
2
P1
P2
Qu
anti
ty
e<
1p
e=
1p
Cross
Price Electricity
Oswaal ICsE Mind Maps, economics, Class-X | 3
( 3 )
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Chap
ter
- 3
Supp
ly a
nd E
lasticity
of
Supp
ly
Su
pp
ly a
nd
Ela
stic
ity
of
Su
pp
ly
•C
ost
of
pro
du
ctio
n•
Tim
e•
Av
aila
bil
ity
an
d p
rice
of
fact
or
inp
uts
•R
isk
tak
ing
•E
xpec
tati
on
of
futu
re p
rice
•Te
chn
iqu
es o
f ch
ang
es i
n p
rod
uct
ion
•N
atu
ral
con
stra
ints
Su
pp
ly c
han
ges
are
imm
easu
rab
lew
ith
slig
ht
or
no
chan
ge
in p
rice
Per
cen
tag
e ch
ang
e in
qu
anti
tysu
pp
lied
iseq
ual
top
erce
nta
ge
chan
ge
in p
rice
No
chan
ge
inq
uan
tity
sup
pli
ed w
ith
ch
ang
esin
pri
ce.
Pe
rce
nta
ge
cha
ng
ein
qu
anti
ty s
up
pli
ed i
s le
ssth
anp
erce
nta
ge
chan
ge
in p
rice
.
Per
cen
tag
ech
ang
ein
qu
anti
tysu
pp
lied
ism
ore
th
an p
erce
nta
ge
chan
ge
in p
rice
.
•P
rice
of
com
mo
dit
y•
Pri
ce o
f re
late
d g
oo
ds
•P
rice
of
fact
or
inp
uts
•G
oal
of
firm
, e.g
., p
rofi
t m
axim
izat
ion
or
sale
s m
axim
izat
ion
•E
xpec
ted
ch
ang
e in
pri
ce•
Go
ver
nm
ent
po
lici
es, e
.g.,
taxa
tio
n p
oli
cy•
Nu
mb
er o
f fi
rms
in t
he
mar
ket
•Ta
bu
lati
on
of
var
iou
sq
uan
titi
es t
hat
a f
irm
wil
l su
pp
ly a
t d
iffe
ren
tp
rice
du
rin
g g
iven
per
iod
of
tim
e.
•Ta
bu
lati
on
of
com
bin
ed s
up
ply
of
all
firm
in
a m
ark
et
•C
han
ge
inq
uan
tity
sup
pli
edd
ue
to c
han
ges
in
fac
tors
oth
erth
an o
wn
pri
ce
Ch
ang
e in
qu
anti
tysu
pp
lie
dd
ue
toch
ang
ein
pri
ceo
fco
mm
od
ity
Gra
ph
ical
pre
sen
tati
on
sho
win
gth
eq
uan
titi
essu
pp
lied
by
all
the
firm
sta
ken
to
get
her
in
a m
ark
et a
t v
ario
us
pri
ces. G
rap
hic
alp
rese
nta
tio
no
fv
ario
us
qu
anti
ties
of
aco
mm
od
ity
th
at a
fir
m i
s w
illi
ng
to
sal
e at
dif
fere
nt
pri
ces
at a
giv
en n
per
iod
of
tim
e.
1 2 3 4
4 5 6 7
Pri
ce (
)`S
up
ply
1 2 3 4
45
9
56
11
67
13
78
15
Pri
ce (
)
B's
Su
pp
lyM
ark
et S
up
ply
jA
's S
up
ply
uan
tity
su
pp
lied
XS
Y Price O
e=
s�
QS
up
ply
X
S
Y Price O
e=
0s
X
Y
Price
O
e<
1s
12
34
56
60 50 40 30 20
S1
Qu
anti
ty s
up
pli
ed
Per
cen
tag
e ch
ang
e in
Qu
anti
ty S
up
pli
ed
Per
cen
tag
e C
han
ge
in P
rice
=
� Q Q×
100
� P P
=
� Q � P×
P Q
E.= s
x
y Price OQ
uan
tity
Su
pp
lied
(Un
its)
S1
S1
S2
X
Y
Price
O
e<
1s
12
34
56
60 50 40 30 20
Qu
anti
ty s
up
pli
ed
S1
e<
1s
e=
1s
e<1 s
e<
1s
e >1s
Law
of
Su
pp
ly
•S
up
ply
•
•
•
X
Y Price () ` OQ
uan
tity
Su
pp
lied
(Un
its)
S
S
60 50 40 30 20
12
34
56
S
S
0Y
X
Qu
anti
ty S
up
pli
ed (
k.g
.)
Price () `
X
Y
O
S2
P
Incr
ease
in s
up
ply
Dec
reas
ein
su
pp
ly
Qu
anti
ty S
up
pli
ed (
in u
nit
s )
SS
1
S2
SS
1
Q2
1
GE
Price () `
X
Y
O
Exp
ansi
on
in s
up
ply
Qu
anti
ty S
up
pli
ed (
in u
nit
s )
Q2
1
P1
P P2
C
A
S
Co
ntr
acti
on
in s
up
ply
•
Price () `
Qu
anti
tyo
fco
mm
od
ity
that
asu
pp
lier
isw
illi
ng
to
sel
l in
th
e m
ark
et a
t a
giv
en p
rice
and
in
th
e g
iven
per
iod
of
tim
ee
=s�
(Cet
eris
Par
ibu
s,su
pp
lyin
crea
ses
wit
hri
sein
pri
ce a
nd
dec
reas
es w
ith
fall
in
pri
ce)
4 | Oswaal ICsE Mind Maps, economics, Class-X
( 4 )
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Chap
ter
- 4
Mar
ket
Ma
rket
Meaning
An
act
ual
or
no
min
al p
lace
wh
ere
bu
yer
san
dse
ller
sca
nm
eet
toen
gag
e in
eco
no
mic
tra
nsa
ctio
n
•F
ew s
elle
rs•
Mo
no
po
ly p
ow
er•
Inte
rdep
end
ence
am
on
g f
irm
s•
Ind
eter
min
ate
dem
and
cu
rve
•E
xist
ence
of
sell
ing
co
st•
Lac
k o
f u
nif
orm
ity
•P
rice
rig
idit
y•
No
n p
rice
co
mp
etit
ion
, an
db
arri
ers
to e
ntr
y o
f fi
rms
Oli
go
po
ly(A
uto
mo
bil
ein
du
stry
, cem
ent
ind
ust
ry, a
irli
nes
ind
ust
ry)
•L
arg
e n
um
ber
of
firm
s•
Pro
du
ct d
iffe
ren
tiat
ion
•F
ree
entr
y a
nd
exi
t o
f fi
rms
•S
elli
ng
co
st•
No
n-p
rice
co
mp
etit
ion
•L
ack
of
per
fect
kn
ow
led
ge
Mon
opol
ist
ic(R
estaurants,
Har
dw
are
shops Gro
cery
shop)
•S
ing
le s
elle
r an
d l
arg
e n
um
ber
of
bu
yer
s•
Fir
m a
nd
in
du
stry
are
sy
no
ny
mo
us
•N
o c
lose
su
bsi
tute
s•
Clo
sed
en
try
of
new
fir
m•
Neg
ativ
ely
slo
ped
AR
an
d M
R c
urv
es•
Pri
ce d
iscr
imin
atio
n p
oss
ible
•F
ull
co
ntr
ol
ov
er s
up
ply
of
go
od
s an
dab
no
rmal
pro
fit
in l
on
g r
un
•L
arg
e n
um
ber
of
bu
yer
s an
d s
elle
rs•
Ho
mo
gen
eou
s p
rod
uct
•F
ree
entr
y a
nd
exi
t•
Per
fect
kn
ow
led
ge
•P
erfe
ct m
ob
ilit
y o
f fa
cto
rs o
f p
rod
uct
ion
•A
bse
nce
of
tran
spo
rtat
ion
co
st•
No
sel
lin
g c
ost
•U
nif
orm
pri
ces
and
•H
ori
zon
tal
aver
age
and
mar
gin
alre
ven
ue
curv
es
Types
Imper
fect
competitio
n
Monopoly(In
dian
Rai
lway
)
Oswaal ICsE Mind Maps, economics, Class-X | 5
( 5 )
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Chap
ter
- 5
Mone
y
Money
•A
cts
as a
n i
nte
rmed
iary
fo
r th
e ex
chan
ge
of
go
od
san
d s
erv
ices
•T
his
fu
nct
ion
has
rem
ov
ed t
he
dif
ficu
lty
of
do
ub
leco
inci
den
t o
f w
ants
in
th
e b
arte
r sy
stem
.•
Act
s as
sta
nd
ard
of
val
ue
or
un
it o
f ac
cou
nt
•R
emo
ved
th
e d
iffi
cult
y o
f la
ck o
f co
mm
on
mea
sure
of
val
ue.
•S
erv
ices
as
a st
and
ard
of
deb
t o
r fu
ture
pay
men
ts b
ecau
seit
s v
alu
e re
mai
ns
stab
le o
ver
tim
e•
Rem
ov
ed t
he
dif
ficu
lty
of
lack
of
stan
dar
d o
f d
efer
red
pay
men
ts
•D
ue
to n
on
per
ish
able
nat
ure
, it
serv
es a
s st
ore
of
val
ue
•R
emo
ved
th
e d
iffi
cult
y i
n s
tori
ng
wea
lth
•L
ack
of
do
ub
le c
oin
cid
ence
of
wan
ts•
Lac
k o
f co
mm
on
mea
sure
of
val
ue
•L
ack
of
stan
dar
d o
f d
efer
red
pay
men
ts•
Dif
ficu
lty
in
sto
rin
g w
ealt
h•
Ind
ivis
ibil
ity
of
go
od
s
Bo
ws
and
arr
ow
s, g
old
,co
pp
er, f
oo
d g
rain
s, e
tc
•A
ny
thin
g w
hic
h i
s d
ecla
red
by
sta
teas
mo
ney
.•
Mo
ney
wh
ich
has
leg
al s
anct
ion
by
th
eg
ov
ern
men
t b
ehin
d i
t, i
s ca
lled
leg
alte
nd
er o
r le
gal
ten
der
mo
ney
OC
oin
of
go
ld, s
ilv
er, c
op
per
Pap
er n
ote
s o
r B
ank
no
tes
•C
heq
ues
, Ban
k d
raft
s, e
tc.
•A
lso
kn
ow
as
Cre
dit
Mo
ney
.
Deb
it a
nd
Cre
dit
car
ds
Bart
er
Sy
ste
m:
(Dir
ect
exch
ang
e o
f g
oo
ds
agai
nst
go
od
s w
ith
ou
t u
seo
f m
on
ey)
of Money
6 | Oswaal ICsE Mind Maps, economics, Class-X
( 6 )
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Chap
ter
- 6
Bank
ing
Ba
nkin
g
•Ta
kin
go
ver
the
ow
ner
ship
and
man
agem
ent
of
com
mer
cial
ban
ks
by
go
ver
nm
ent
•In
1969
,fo
urt
een
lead
ing
com
mer
cial
ban
ks
wer
en
atio
nal
ised
•In
1986
,6m
ore
ban
ks
wer
en
atio
nal
ised
(Th
rou
gh
) :
•C
ash
cre
dit
s•
Ov
erd
raft
s•
Lo
ans
•D
isco
un
tin
g o
f B
ill
of
Exc
han
ge
•C
oll
ecti
on
of
Ch
equ
es,
Div
iden
ds,
Inte
rest
,et
c.•
Pa
ym
en
to
fS
ub
scri
pti
on
,R
en
t,In
sura
nce
pre
miu
m,e
tc.
•S
ale
and
pu
rch
ase
ofS
ecu
riti
es•
Act
ing
asE
xecu
tor,
Tru
stee
,A
tto
rney
,et
c.•
Pre
par
atio
no
fIn
com
eTa
xre
turn
•Ta
ke
dep
osi
ts f
rom
pu
bli
c th
rou
gh
sav
ing
ban
k a
cco
un
t (P
rim
ary
Dep
osi
t)•
Kee
p s
om
e p
art
of
mo
ney
as
rese
rve
and
len
ds
mo
ney
to
oth
er c
ust
om
er b
yd
epo
siti
ng
lo
an a
mo
un
t in
his
cu
rren
tac
cou
nt
(Der
ivat
ive
Dep
osi
t)•
Kee
p s
om
e p
art
of
Der
ivat
ive
Dep
osi
tsas
res
erv
e an
d l
end
oth
er p
art
by
cre
atin
gan
oth
er d
eriv
ativ
e d
epo
sit
•T
his
pro
cess
go
es u
nti
l to
tal
amo
un
t is
dis
trib
ute
d a
s lo
ans
Mo
no
po
lyo
fis
sue
cu
rr
en
cy
no
teo
fv
ario
us
den
om
inat
ion
sex
cep
t o
ne
rup
ee n
ote
•K
eep
sac
cou
nts
of
all
Go
ver
nm
ent
Ban
ks
•M
anag
esg
ov
ern
men
ttre
asu
ries
•G
ives
loan
sto
go
ver
nm
ent
•B
uy
and
sell
sse
curi
ties
on
beh
alf
ofg
ov
ern
men
t•
Act
asad
vis
or
toth
eg
ov
ern
men
t
Pro
vid
es f
inan
cial
ass
ista
nce
to
com
mer
cial
ban
ks
inti
mes
of
emer
gen
cy
Ad
vis
es g
ov
ern
men
t to
tak
ea
pp
rop
ria
tem
easu
res
for
mak
ing
bal
ance
of
pay
men
tfa
vo
ura
ble
Off
se
tth
em
utu
al
cla
ims
of
com
me
rcia
lb
ank
on
on
ean
oth
er(s
ettl
emen
t o
f ac
cou
nts
)
•R
ate
at w
hic
h C
entr
al B
ank
giv
es l
oan
s to
co
mm
erci
al b
ank
s•
Ban
k R
ate
Co
st o
f��
Bo
rro
win
gD
eman
d f
or
��lo
ans
and
cre
dit
s.
•B
uy
ing
an
d s
elli
ng
of
go
vt.
sec
uri
ties
ino
pen
mar
ket
•Se
llin
g o
f se
curi
ties
bu
yer
pay
to
�C
entr
al b
ank
by
dra
win
g c
heq
ues
Cas
h�
rese
rve
rati
oC
red
it g
ran
tin
g c
apac
ity
���
Mo
ney
su
pp
ly•
Pu
rch
ase
of
secu
riti
esC
RR
���
Cre
dit
gra
nti
ng
cap
acit
yu
sed
in s
low
do
wn
�p
has
e
•A
fix
ed p
erce
nta
ge
of
dep
osi
t w
hic
hco
mm
erci
al b
ank
s o
ug
ht
to k
eep
wit
hC
entr
al B
ank
s
•C
RR
Cre
dit
gra
nti
ng
cap
acit
yM
on
ey��
��su
pp
ly�
•C
RR
Cre
dit
gra
nti
ng
cap
acit
yM
on
ey��
��su
pp
ly�
•A
fix
ed p
erce
nta
ge
of
cash
bal
ance
s an
d o
ther
asse
ts w
hic
h c
om
mer
cial
ban
k o
ug
ht
to k
eep
wit
h t
hem
•S
LR
Cre
dit
gra
nti
ng
cap
acit
yM
on
ey s
up
ply
����
�•
SL
RC
red
it g
ran
tin
g c
apac
ity
Mo
ney
su
pp
ly��
���
Fix
atio
no
fm
axim
um
lim
ito
flo
ans
or
cred
itth
at c
an b
e g
iven
by
co
mm
erci
al b
ank
s o
n t
he
sto
cks
of
sele
cted
co
mm
od
itie
s
•D
iffe
ren
ce b
etw
een
th
e m
ark
et v
alu
e o
f se
curi
tyo
ffer
ed f
or
loan
an
d t
he
amo
un
t o
f lo
an o
ffer
ed•
Du
rin
g i
nfl
atio
n, M
arg
in R
equ
irem
ent
are
incr
ease
d•
Du
rin
g d
efla
tio
n, M
arg
in R
equ
irem
ent
are
dec
reas
ed•
Sh
ow
s in
crea
se i
n a
mo
un
t o
r ra
te•
Sh
ow
s d
ecre
ase
in a
mo
un
t o
r ra
te
(Th
rou
gh
) :
•F
ixed
Dep
osi
t A
cco
un
t•
Cu
rren
t D
epo
sit
Acc
ou
nt
•S
avin
g D
epo
sit
Acc
ou
nt
•R
ecu
rrin
g D
epo
sit
Acc
ou
nt
Mo
ral
pre
ssu
re e
xerc
ised
by
Cen
tral
Ban
ko
n C
om
mer
cial
ban
ks
to b
e :
•R
estr
icti
ve
and
sel
ecti
ve
du
rin
g i
nfl
atio
n•
Lib
eral
du
rin
g d
efla
tio
n
Cen
tral
Ban
k h
as t
he
auth
ori
ty t
o t
ake
stri
ctac
tio
nag
ain
stan
yco
mm
erci
alb
ank
inca
seo
fn
on
-fu
lfil
lmen
to
fd
irec
tio
ns
giv
en b
y C
entr
al B
ank
s
Se
ttin
gu
pm
ore
pri
vat
ese
cto
r b
ank
{
{A
dv
anci
ng
Lo
ans
(MonetaryPolicy)
Oswaal ICsE Mind Maps, economics, Class-X | 7
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Chap
ter
- 7
Demo
netisat
ion
•P
roce
ss o
f st
rip
pin
g a
cu
rren
cy u
nit
fro
m i
ts s
tatu
s as
leg
al t
end
er•
Pre
sen
t cu
rren
cy i
n c
ircu
lati
on
is
pu
lled
off
an
d n
ew c
urr
ency
is
circ
ula
ted
Dem
oneti
sa
tion
Demonetisat
ion
of20
16(`
500
and
`100
0b
ank
)
•P
ush
ed I
nd
ia t
ow
ard
s ca
shle
ss e
con
om
y•
Rai
sed
tax
pay
men
ts•
Bro
ug
ht
an e
nd
to
bla
ck m
on
ey•
Cu
rbed
ter
rori
st f
un
din
g•
Ad
ver
se e
ffec
t o
n g
row
th a
nd
rev
enu
e o
f M
SM
Es
•To
str
ip c
orr
up
tio
n•
To c
urb
co
un
terf
eit
curr
ency
•To
co
mb
at i
nfl
atio
n•
To c
om
bat
tax
ev
asio
n•
To i
ncr
ease
th
e p
erfo
rman
ce o
f ec
on
om
y
•P
arti
al D
emo
net
isat
ion
•To
tal
Dem
on
etis
atio
n
All
no
tes
of
dem
on
etis
atio
n o
f50
0 an
d10
00`
`w
ere
dem
on
etis
ed w
ith
a t
ime
lim
it o
f 50
day
s to
exc
han
ge
dem
on
etis
ed n
ote
s fr
om
ban
ks
and
so
me
esse
nti
al s
erv
ice
sto
res
•A
ll n
ote
s o
f d
eno
min
atio
ns
of
1000
,50
00`
`an
d10
,000
wer
e d
emo
net
ised
wit
h a
tim
e`
lim
it o
f 3
day
s to
exc
han
ge
dem
on
etis
edn
ote
s•
Its
pu
rpo
se w
as t
o c
atch
co
rru
pt
lead
ers
and
off
icia
ls i
n p
red
eces
sor
go
ver
nm
ents
•A
ll n
ote
s o
f d
emo
nin
atio
ns
of
500
and
1000
``
wer
e d
emo
net
ised
wit
h a
tim
e li
mit
of
10d
ays
to e
xch
ang
e d
emo
net
ised
no
tes
•It
s p
urp
ose
was
to
cat
ch t
ax e
vad
ers
On
16/0
1/19
78
8 | Oswaal ICsE Mind Maps, economics, Class-X
( 8 )
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Chap
ter
- 8 P
ublic
Reve
nue
Pu
blic
Rev
enu
e
•In
com
e o
f g
ov
ern
men
t fr
om
all
sou
rces
•E
xam
ple
s; f
ines
, pen
alti
es, t
ax,
gra
nts
, gif
ts, e
tc.
•E
xclu
des
pu
bli
c b
orr
ow
ing
san
d i
nco
me
fro
m s
ale
of
pu
bli
cas
sets
•A
dm
inis
trat
ing
rev
enu
e; F
ee,
Fin
es, P
enal
ties
, etc
.•
Co
mm
erci
al R
even
ue;
Po
stal
char
ges
, To
ll c
har
ges
, etc
.•
Gif
ts a
nd
Gra
nts
Lev
ied
acc
ord
ing
to
th
e ta
xab
leca
pac
ity
of
peo
ple
Co
st o
f co
llec
tin
g t
ax i
s lo
w
Vari
ed
:
•A
cco
rdin
g t
o t
he
nee
ds
of
go
ver
nm
ent
•A
cco
rdin
g t
o t
he
chan
ges
in
inco
me
of
peo
ple
Peo
ple
bec
om
e co
nsc
iou
s fo
rth
eir
rig
hts
So
met
imes
,ta
xp
ayer
sh
ave
top
ay t
he
enti
re a
mo
un
t o
f ta
x in
on
e in
stal
lmen
t.
By
su
bm
itti
ng
fal
se r
etu
rn, s
om
ep
eop
le e
vad
e ta
x
Ge
ne
rall
yim
po
sed
on
ric
h a
nd
exc
lud
eslo
win
com
eg
rou
pp
eop
le.
Rat
eo
fta
xin
crea
ses
up
toto
cert
ain
lim
itan
d a
fter
th
at u
nif
orm
rat
e is
ch
arg
ed a
nd
bec
om
es c
on
stan
t.
Rat
e o
f ta
x d
ecre
ases
as
the
tax
bas
e in
crea
ses
Rat
e o
f ta
x re
mai
ns
con
stan
t an
d t
ax b
ase
chan
ges
Rat
e o
f ta
x in
crea
ses
as t
he
tax
bas
e in
crea
ses
Pai
d i
n s
mal
l in
stal
lmen
ts
As
it i
s in
clu
ded
in
pri
ce o
fco
mm
od
ity
Imp
ose
d o
n l
arg
e v
arie
tyo
f g
oo
ds
Lev
ied
on
in
toxi
can
ts l
ike,
win
e an
d o
piu
m, e
tc.
No
t p
aid
dir
ectl
y b
y p
eop
le, s
o d
on
'tcr
eate
civ
ic c
on
scio
usn
ess
Co
st o
f co
llec
tio
n o
fta
x is
qu
ite
hea
vy
GS
T (
Go
od
s &
Ser
vic
e Ta
x),
Exc
ise
du
ty, e
tc.
Inco
me
Tax,
Wea
lth
Tax
, Co
rpo
rate
Tax
An
in
dir
ect
tax
lev
ied
on
the
sale
of
go
od
san
dse
rvic
es
rep
laci
ng
the
mu
ltip
lein
dir
ect
taxe
sw
ith
on
e ta
x
•T o
rep
lace
mo
st i
nd
irec
t ta
xes
wit
h o
ne
tax
•To
im
pro
ve
tax
coll
ecti
on
by
bu
ild
ing
atr
ansp
aren
t an
d c
orr
up
tio
n f
ree
tax
adm
inis
trat
ion
•S
imp
lici
ty i
n t
ax s
tru
ctu
re•
Wid
e co
ver
age
•U
nif
orm
tax
rat
e
Mea
nin
g
Bu
rden
is
mo
re o
n p
oo
rs t
han
ric
hR
even
ue
fro
min
dir
ect
taxe
sca
n't
be
esti
mat
ed a
ccu
rate
ly
Tax
bu
rden
can
't b
e sh
ifte
d s
o n
ot
po
pu
lar
amo
ng
peo
ple
Consc
iousness
Oswaal ICsE Mind Maps, economics, Class-X | 9
( 9 )
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Chap
ter
- 9
Publ
ic E
xpen
ditu
re
Pu
blic
Ex
pen
dit
ure
•B
alan
ced
reg
ion
alg
row
th,
i.e.
,ex
pen
dit
ure
on
dev
elo
pm
ento
fbac
kw
ard
area
•D
evel
op
men
to
fag
ricu
ltu
rean
din
du
stry
•E
xplo
itat
ion
and
dev
elo
pm
ent
of
min
eral
reso
urc
es•
Mai
nta
inin
gla
wan
do
rder
,i.
e.,
inte
rnal
and
exte
rnal
secu
rity
•P
rom
oti
ng
bas
ican
dk
eyin
du
stri
es,
e.g
.,co
tto
nin
du
stry
•E
xpen
dit
ure
incr
ease
db
yp
ub
lic
auth
ori
ties
(cen
tral
,sta
tean
dlo
calb
od
ies)
•To
pro
mo
teg
row
than
dd
evel
op
men
tin
the
eco
no
my
•F
or
ow
nm
ain
ten
ance
•E
xam
ple
s:ex
pen
dit
ure
on
def
ence
,ed
uca
tio
n,
law
and
ord
er,e
tc.
E.g
., ex
pen
dit
ure
on
mo
der
nis
atio
no
fd
efen
ceeq
uip
men
to
far
my,
nav
y a
nd
air
forc
e.
E.g
., ex
pen
dit
ure
in
res
pec
t o
fp
oli
ce,
tax,
adm
inis
trat
ion
,o
fp
ub
lic
sect
or
ente
rpri
ses,
etc
.
E.g
., ex
pen
dit
ure
in
hea
lth
edu
cati
on
, etc
.
E.g
.,e
xp
en
dit
ure
on
wat
er s
up
ply
, ed
uca
tio
n,
elec
tric
ity,
etc
.
Incr
ease
inp
ub
lic
and
pri
vat
ed
ebt
lead
s to
in
crea
se i
n i
nte
rest
pay
men
ts
•D
evel
op
men
t w
ork
, e.g
., 5
yea
rs p
lan
•In
crea
se i
n N
atio
nal
In
com
e•
Incr
ease
in
Pri
ce L
evel
•E
xpen
ses
are
mad
eo
nel
ecti
on
san
db
y-e
lect
ion
s
•To
ach
iev
eg
oo
dw
ill
of
the
pu
bli
c,ex
pen
ses
are
mad
eto
pro
vid
ev
arie
tyo
fse
rvic
esan
dfa
cili
ties
toth
ep
ub
lic
e.g
., ex
pen
dit
ure
on
tax
co
llec
tio
n,
inte
rest
pay
men
t, s
ub
sid
es, e
tc.
e.g
.,ex
pen
dit
ure
on
pu
rch
ase
of
lan
d, m
ach
iner
y, s
har
es, r
epay
men
to
f lo
ans,
etc
.
Cap
ital
exp
end
itu
re(w
hic
hin
crea
seth
e assets
and
dec
reas
eth
elia
bilit
yof
th
e govt)
10 | Oswaal ICsE Mind Maps, economics, Class-X
( 10 )
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Chap
ter
- 10
Pub
lic
Debt
Pu
blic
Deb
t
•L
oan
so
fGo
ver
nm
ent
•O
wes
toit
ssu
bje
cts
•O
wes
ton
atio
nal
so
foth
erco
un
try
•In
tere
stan
dp
rin
cip
leam
ou
nt
hav
eto
pai
db
ack
wit
hg
iven
per
iod
of
tim
eb
yG
ov
ern
men
t•
May
be
info
rmo
fbo
nd
san
dse
curi
ties
•S
ho
rt-t
erm
flo
atin
g d
ebt
•Te
mp
ora
ry m
easu
re t
o m
eet
curr
ent
nee
d
•L
on
g-t
erm
Deb
t•
Incl
ud
es s
ecu
riti
es m
ark
etab
lein
sto
ck e
xch
ang
e•
Inte
rest
is
pai
de.
g.,
con
ver
tib
le b
on
ds,
etc
.
•In
tere
st i
s p
aid
reg
ula
rly
•M
atu
rity
dat
e is
no
t fi
xed
Go
ver
nm
ent
pay
s it
off
afte
ra
spec
ifie
dd
ate
•G
ov
ern
me
nt
bo
rro
win
gs
fro
min
div
idu
alan
din
stit
uti
on
slo
cate
dw
ith
inth
eco
un
try.
•M
ayb
ev
olu
nta
ryo
rco
mp
uls
ory
.
•C
om
mer
cial
Ban
ks,
e.g
., P
un
jab
Nat
ion
al B
ank
s, C
anar
a B
ank
•S
elli
ng
of
Go
ver
nm
ent
secu
riti
es,
e.g
., G
ov
ern
men
t B
on
ds
•R
BI•
Lo
ans
and
ad
van
ces
fro
m f
ore
ign
go
ver
nm
ents
an
d f
ore
ign
in
stit
uti
on
s•
IMF,
Wo
rld
Ban
k a
nd
In
tern
atio
nal
Fin
anci
al I
nst
itu
tio
ns
•Ta
ken
fo
r d
evel
op
men
t•
Yie
lds
inco
me
•E
.g.,
bo
rro
win
gs
for
con
stru
ctio
no
f b
rid
ges
, dam
s, e
tc.
•F
or
no
n d
evel
op
men
t u
ses
•E
.g.,
Fin
anci
ng
war
, co
ntr
oll
ing
epid
emic
s, e
tc.
Gen
eral
ly,
tak
enat
tim
e o
f w
ar o
rcr
ises
Pro
vid
edto
Go
ver
nm
ent
on
vo
lun
tary
bas
is
•G
ov
ern
me
nt
bo
rro
win
gfr
om
ind
ivid
ua
lin
sti
tuti
on
sa
nd
go
ver
nm
ent
of
fore
ign
cou
ntr
y•
Gen
eral
lyv
olu
nta
ryin
nat
ure
Oswaal ICsE Mind Maps, economics, Class-X | 11
( 11 )
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Chap
ter
- 11
Infl
ation
Infl
ati
onC
reep
ing
Wal
kin
g
Ru
nn
ing
Hyp
er
•S
ust
ain
ed r
ise
in p
rice
s•
Pri
ce r
ise
at m
ild
rat
e, i
.e, 2
% t
o 3
%
•P
rice
s ri
se m
od
erat
ely,
i.e
, 3%
to
10%
•W
arn
ing
sig
nal
fo
r g
ov
ern
men
t to
con
tro
l b
efo
re i
t b
eco
mes
wo
rse
•P
rice
s ri
se a
t a
fast
er r
ate,
i.e
., 10
% t
o 2
0%•
War
nin
g s
ign
al f
or
go
ver
nm
ent
ind
icat
ing
the
nee
d t
o c
on
tro
l it
•P
rice
ris
e g
o o
ut
of
con
tro
l•
Rat
e o
f p
rice
ris
e m
ay b
e 20
% t
o 3
0%•
Mo
net
ary
sy
stem
co
llap
se
Others
Eff
ects
•In
crea
se o
f co
st•
Red
uct
ion
in
sav
ing
•W
age
spir
al•
Red
uce
s o
n f
ore
ign
inv
estm
ent
•A
dv
erse
bal
ance
of
pay
men
t
•In
crea
sein
wag
esle
ads
toin
crea
sein
pri
cele
vel
lead
ing
toin
crea
sein
pri
ceo
fev
enb
asic
ne
ce
ssit
ies
(vic
iou
sci
rcle
isfo
rmed
)•
Lea
ds
toco
stp
ush
infl
atio
n
•W
hen
pri
ce r
ise
val
ue
of
mo
ney
incr
ease
•D
ebto
rs g
ain
•C
red
ito
rs l
ose
As
the
pri
ces
rise
, pu
rch
asin
gp
ow
er o
f th
eir
fixe
d i
nco
me
dec
reas
es
Cau
sed
by
exc
ess
dem
and
ov
er t
ota
lsu
pp
ly a
vai
lab
le a
t cu
rren
t p
rice
s
Dem
and
Pu
llIn
flat
ion
•M
isal
loca
tio
n o
f re
sou
rces
an
dd
isru
pte
d p
rice
mec
han
ism
•H
oar
din
g•
En
cou
rag
e sp
ecu
lati
on
•L
ack
of
qu
alit
y c
on
tro
l
Types
Mea
sure
sofInfla
tion
•R
efer
s to
a f
ixed
set
of
con
sum
erp
rod
uct
s an
d s
erv
ices
val
ued
on
an a
nn
ual
bas
is.
BasketofG
oods
•A
n i
nd
ex t
hat
mea
sure
s th
e av
erag
e ch
ang
esin
pri
ces
of
ab
ask
eto
fco
nsu
mer
go
od
s.
•A
nin
dex
that
mea
sure
sth
eav
erag
ech
ang
es i
n p
rice
s o
f w
ho
lesa
le g
oo
ds.
Cau
sed
by
in
crea
se i
nco
st o
f p
rod
uct
ion
12 | Oswaal ICsE Mind Maps, economics, Class-X
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Chap
ter
- 12 C
ons
umer
Awar
enes
s
Consu
mer
wa
reness
A
•L
ack
of
kn
ow
led
ge
•Il
lite
racy
•U
no
rgan
ised
co
nsu
mer
s•
Lim
ited
su
pp
lies
•M
isle
adin
g a
dv
erti
sem
ents
•P
rod
uct
ion
of
spu
rio
us
go
od
s•
Sel
lin
g g
oo
ds
un
der
wei
gh
t an
d m
easu
res
•S
elli
ng
po
or
qu
alit
y g
oo
ds
•S
elli
ng
go
od
s at
hig
her
pri
ce•
Sel
lin
g s
eco
nd
han
d g
oo
ds
as b
ran
d n
ew g
oo
ds
•C
reat
ing
fal
se i
mp
ress
ion
on
con
sum
er t
hro
ug
h s
ales
str
ateg
y
•P
rote
ctio
n a
gai
nst
un
fair
tra
de
pra
ctic
es•
Pro
tect
ion
fro
m d
ecep
tiv
e ad
ver
tisi
ng
•P
rote
ctio
n a
gai
nst
th
e p
rod
uct
s th
at a
reh
azar
do
us
•P
rote
ctio
n a
gai
nst
en
vir
on
men
tal
haz
ard
s
•L
ead
s to
ch
ron
ic h
ealt
h p
rob
lem
se.
g.,
can
cer,
par
aly
sis,
etc
.•
Lac
k o
f n
utr
itio
nal
val
ue
•In
crea
ses
the
imp
uri
ty i
n t
he
foo
d
•E
xces
s d
eman
d f
or
foo
d i
tem
s•
Ign
ora
nce
an
d i
nd
iffe
ren
ce o
fth
e co
nsu
mer
s•
Des
ire
for
qu
ick
gai
ns
by
sel
lers
•In
ten
se c
om
pet
itio
n
Toem
po
wer
the
citi
zen
s,p
rom
ote
tran
spar
ency
an
d a
cco
un
tab
ilit
y i
nth
ew
ork
ing
of
the
go
ver
nm
ent,
con
tain
corr
up
tio
nan
dm
ake
ou
rd
emo
crac
yw
ork
for
the
peo
ple
inth
e re
al s
ense
•R
equ
est
any
in
form
atio
n•
Tak
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