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Economics · 2024 · 4 marks
Employment: Growth, Informalisation and Other IssuesParticipation of People in Employment4 marksUnderstandshort answer
CBSE 2024 · Region 3 · Set 2 · Q32
(a)Define worker – population ratio and describe its usefulness.(ii)State the meaning of ‘Disguised Unemployment’.State and elaborate whether the following statements are true or false, with valid arguments :(i)In the recent past, the Government of India has taken crucial steps, like Jan-Dhan Yojana, for efficient allocation of financial resources.(ii)Cooperatives play a vital role in the credit availability in rural India.
(a)
Define worker – population ratio and describe its usefulness.
(ii)
State the meaning of ‘Disguised Unemployment’.
State and elaborate whether the following statements are true or false, with valid arguments :
(i)
In the recent past, the Government of India has taken crucial steps, like Jan-Dhan Yojana, for efficient allocation of financial resources.
(ii)
Cooperatives play a vital role in the credit availability in rural India.
Marking-scheme solution
(i)
Worker Population Ratio is defined as the total number of workers in a country divided by population. It is represented in percentage.
Worker Population Ratio is an indicator which is used for analysing the employment situation in the country. This ratio is useful in knowing the proportion of population that is actively contributing to the production of goods and services of a country. Higher the worker population ratio, higher the engagement of people in economic activities and vice versa.
(ii)
Disguised unemployment refers to a situation when the person seems to be employed but is not contributing to the output i.e., the marginal productivity of labour is zero.
(i)
True. The Government of India has implemented schemes like Jan-Dhan Yojana, which has promoted thrift habits and efficient allocation of financial resources. The formal banking system has been benefitted by mobilization of a substantial amount under this yojana.
(ii)
True. Cooperatives play a pivotal role in the availability of credit in rural India. They offer accessible financial services to farmers, small businesses, and individuals, bridging gaps left by formal banking institutions. With lower transaction costs, resource pooling and risk-sharing, they provide vital credit support, empowering rural communities and fostering economic growth.
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CBSE Class 12 Economics past-paper question from the 2024board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.