Underline the various uses of credit in Sonpur in the above passages.

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Chapter 3

NCERT

Class 10

Economics

Solutions

2. Underline the various uses of credit in Sonpur in the above passages.

Question:

Underline the various uses of credit in Sonpur in the above passages.

Answer:

Following are the lines with different uses of loan in the above paragraphs -

(i) According to Shyamal, he needs to borrow every season to cultivate his 1.5 acres of land.

(ii) Arun is one of the people of Sonpur who got a loan from the bank for farming.

(iii) There are several months in a year in which Rama has no work. He has to take out a loan for his daily expenses. He has to take a loan in case of sudden illness or to spend on some function in the family.

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(All Q's of this Chapter solved)

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The following table shows people in a variety of occupations in urban areas. What are the purposes for which the following people might need loans? Fill in the column.

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Why do you think that the share of formal sector credit is higher for the richer households compared to the poorer households?

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Tick the correct answer. (i) Over the years, Rama’s debt (a) will rise.

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Why will Arun have a higher income from cultivation compared to Shyamal?

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Compare the terms of credit for the small farmer, the medium farmer and the landless agricultural worker in Sonpur.

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List the various sources of credit in Sonpur.

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