The Class 9 is an important year in a student’s life and Maharashtra State Board Social Science Geography is one of the subjects that require dedication, hard work, and practice. It’s a subject where you can score well if you are well-versed with the concepts, remember the important formulas and solving methods, and have done an ample amount of practice. Worry not! Home Revise is here to make your Class 9 journey even easier. It’s essential for students to have the right study material and notes to prepare for their board examinations, and through Home Revise, you can cover all the fundamental topics in the subject and the complete Maharashtra State Board Class 9 Social Science Geography Book syllabus.
Q (1) Explain the types of economies by filling correct information in the place of questions in the circle.
Answer:
| Capitalist economy | Mixed Economy | Cuba, North Korea |
| Management in private hands | Combines private and state enterprise | Production is for direct use and not for profit |
| Production is based on demand and supply | India, Sweden and United Kingdom | Socialist Economy |
| China, Vietnam | Protects private property and allows a level of economic freedom in the use of capital. But it also allows the government to interfere in economic activities in order to achieve social aims. | Achieving social welfare |
Q (2) Give an explanation:
(1) Economy begins at home.
(2) India’s economy is of mixed type.
(3) On the basis of economies, we can divide countries into three groups.
Answer 1: The economy begins at home means that you need to improve your own economic condition before thinking about changing something for the country or other people. If you are not financially stable then you will never be able to help other people as well, in terms of finance. You can only be able to provide emotional support to them.
Answer 2: India’s economy is considered to be of mixed type because both the public as well as the private exist in the market. Both have the right to operate and there is no hindrance regarding the operations. Together both the sectors help in the growth of the country to boost the economy and bring the desired change. Public and private sectors are the basis of the Indian economy with privatization making a big difference.
Answer 3: The division of countries into three groups according to the economies is known as the three sector theory. They are classified as under:
Q3) Write the following questions in one line:
(1) To which economic factor is the management of individual or family finances related?
(2) From which Greek word is the term ‘Economics’ derived?
(3) In a capitalistic economy, to whom does the ownership and management of means of production belong?
(4) What do you mean by globalisation?
Answer 1: Management of individual or family finances is related to income and expenditure.
Answer 2: The word economics came from the Greek word oikonomia.
Answer 3: In capitalistic economy, the ownership and management of means of production belongs to private individuals.
Answer 4: Globalisation is the process in which people, ideas and goods spread throughout the world, spurring more interaction and integration between the world ’s cultures, governments and economies.