Unit-1
Full Form of GNP
Gross National Produce/Product
Baby Sitting is an economic activity of which sector?
The tertiary sector as it is a service.
Mixed
World war-1 was fought between?
Central powers: Germany, Austria-Hungary, Turkey
VS
Allies: France, Russia, Italy, Japan, the USA
GDP: Measures production inside of a country, no matter who makes it. It is location specific.
GNP: Value of all goods and services made by a country's residents and businesses, regardless of production location. It is citizenship specific.
State any two disadvantages of Crypto currency.
1. Understanding cryptocurrency takes time and effort.
2. Cryptocurrencies can be an extremely volatile investment.
What are non-state actors?
Individuals or Organizations that have powerful economic, political or social power and are able to influence at a national and at times international level but do not belong to or ally themselves to any particular country or State.
State any two characteristics of hard power
1. It is military and economic power
2. It is tangible and easy to measure.
List any three advantages of free market economy.
1. Freedom of choice
2. Motive of self-interest
3. Competition
What is liberalization, privatization and globalization with respect to India's LPG policy of 1990?
Liberalization: Indian Government decides to be more liberal in allowing businesses to start and operate independently.
Privatization: Private companies were allowed to start and operate as per their requirements. This opened up the economy to private companies and MNCs to start operations in India.
Globalization: India’s economy is now more integrated with world economies through MNCs.
State the names of any 3 organizations of the United Nations.
1. General Assembly
2. The International Court of Justice.
3. The Secretariat
State any three dimensions of national security.
1. Physical Security
2. Territorial Integrity
3. Socio-Political Security
4. Moral and Spiritual Consensus
Using the white-board and marker, provide a considerable explanation of the circular flow of income.
Teachers to take call.
Explain the difference between IMF and World bank.
IMF: It is an organization working for fostering global monetary cooperation, secure financial stability, facilitate international trade, promoting high employment, and sustainable economic growth.
World bank: It is an international financial institution that provides leveraged loans and technical assistance to poor countries. Its staged GOAL is ‘REDUCING POVERTY’.
For more, refer to slide No. 252 on Curricle!
Provide a brief Summary of Russia-Ukraine war.
Teacher to take call.
Explain the concept of collective security with two examples.
Teacher to take the call.
Students to refer to session-13.