Transcript for:
Understanding India's Economic Sectors

foreign good evening and welcome to your very own by juice 9th and 10th grade Channel I'm your teacher Aishwarya and in this particular class we are going to be learning about the chapter sectors of Indian economy and most importantly we are going to be looking at the complete chapter explanation in this video at one go so I hope all of you here are excited for today's class and very quickly students I hope that my audio my video and my screen and whatever I'm writing on my screen is visible to all of you if it is students please do give me a quick thumbs up to let me know that we are good to go yes good evening to all the students who are here live I can see op Legend student Ash I can see AV dhruv or harshit comfy studies the bianchu ansh is also here my dear dear Junior student Ange you know I'm taking economics for your senior so please tomorrow when I'll be coming live you can ask me doubts with respect to biology right so students as we all know we are going to be looking at your second chapter in economics we've already finished development and development is a very easy chapter similarly let me tell you in economics your sectors of Indian economy is also easy peasy chapter okay and let me tell you this is an extremely scoring chapter also because there are good number of questions that will come in your examination especially if you see your assertion reason questions and long format question will also come from sectors of Indian economy so as you all know my aim is to make sure that in the next one not I try my best right in the next one or I will make it a point that I wind up this particular class but before you get started with the class students please make sure you have your notebooks you have your textbooks open with you now over a period of time I have also understood that sometimes maybe when I come only with a PPT with important points in it you struggle to understand where all are the important points in your textbook which is why today in this particular class I also have Snippets from your textbook especially your rationalized textbook so that you can underline the important pointers as and when we go about it right and yes I do know that this particular live stream is happening a little late in case we want to have dinner please eat dinner right I never stop you from having lunch I mean dinner so please in case we are hungry please please please make sure that you eat dinner right this is a one shot to all of my students it is a one shot a full chapter explanation so are we ready for today's class yes are we all ready very quickly make sure that all of you do not forget to hit the com like button on this video do not forget to hit the Subscribe button in case if you're thinking twice whether to subscribe you can watch the class and then you decide for yourself right hi Josh awesome that is what I need now of course students for a period of time any of you have been telling me ma'am we don't know when what class is happening we are feeling a little bit lost the lectures are all happening at different different times so I do know that a lot of you have been struggling with this which is why we have a timetable right we have a timetable in motion now I told this to your Juniors but seniors especially class 10 students Focus as you can see yesterday you had math class today you had physics class with saurabh sir now one slight thing is that Tuesdays and Wednesday Tuesday will be a little jam-packed for you because you have social science as well right now of course tomorrow I will be coming live with Biology then you have chemistry followed by mathematics so the next two to three weeks maybe we are going to be following this now understand one important thing it means that at 10 7 PM you will have a class this could not only just be a live class but sometimes we will also be putting up some pre-recorded videos right sometimes instead of spending one hour just teaching the same thing and extending it sometimes we realize that it could be shorter videos also so now of course we will also be looking into some pre-recorded revision tomorrow for Bio we are doing control and coordinate Asian top 15 most important questions and we will be winding up control coordination right so students tomorrow but today we will look at 10th SST right so are we all ready in case we want to take a screenshot you can take a screenshot and for grade eight we will be making sure that we will put it up yes our detailed lectures and one shot the same thing yes one shots are basically your chapter explanations full chapter explanations that are there hello lohit hello yes yes all are ready let's get started now as we all know we are going to be talking about sectors of Indian economy right so before I get into telling you about economy I mean the sectors that are there how the sectors contribute what is the relationship amongst those sectors right why is it important for us to even bother about these sectors Adam I'm sitting at home and studying how is this all this relevant to me right so this is why we're gonna start off with understanding about what is economy in the first place now before I actually tell you what is an economy I want to ask you this is a very tricky question when I was in you know 10th I quite did not understand it properly which is why I want you guys I'm being very honest right I want you guys to take a minute and think about what you understand as economy or when you hear this word economy what comes into your mind what whatever it may be take a minute and try to reflect right happy birthday to peace in life I wish you the very best right but to understand okay uh pavni says my money okay pami says income I can see money somebody's telling me my finance okay Finance how the country is developing standard of living very good very good GDP yes GDP of course which we will study today we will do GDP right so of course as we all know GDP is in my mind my money how it is getting circulated very good Market wow very good Market that is there okay Market means not uh maybe talk about share markets right okay very good very good yes okay awesome right so as we all know demand Supply production yes Ramesh Babu taking a small piece from your first chapter in grade nine that is your what the story of village palampur where we learned about production right using resources exactly so economy is again this is a definition for you guys economy in general has a complex definition but we don't need to go to the complexities of it we will go into the simplicities of it right so here an economy is a large pool of activities right so there are a large pool of activities that happen within a country which is related to your production like we learned in our lower grades which is related to consumption so if you want to produce mobile phones I am using my mobile phone I am consuming it I am a consumer right and which is also related to exchange of goods and services what I am sending outside my country what I'm getting inside my country right not only within the country right even across States we know that there's a lot of exchange that happens so definitely if you talk about it economy is a pool of activities that happen that are related so whatever you have told it is all accumulation of it right that is related to production consumption and exchange of goods right so this right here is very very important to understand now you understand that when it comes to production of something consumption of maybe let's say consuming some products right or for exchange to happen from your lower grades right maybe you've not learned it in economics per se but how many if you remember that in geography right you all remember the agriculture chapter right and in agriculture you learned about how there are some activities yes how many of you remember from agriculture we learned about some economic activities yes we learned about it in grade eight right now this particular thing is going to be imported right so we see that those economic activities are categorized into different groups or they are categorized into different sectors Now what is my basis of doing this we see that there are certain characteristics I am considering in order to do my classification right so what would be my classification I can classify them in multiple ways and yes you can use this as notes I can classify them either based on how I'm based on production right how I am producing it right or on What stages of production it is that is one aspect then the nature of employment that is going to be there which we will discuss and then of course on the ownership of assets who owns what right so nature of production very good student Ash right attention you focus on me right you know where I am from no you listen to me and then of course we have nature of employment and ownership of assets right so these are the three ways in which we are going to be paying attention or these are the three categories we are going going to discuss starting from something we already know right so what do we from something we learned about that is going to be nature of production so just like how all of you have told me right just like how all of you have told me nature of production is something that we have learned in agriculture chapter just like in our lower grades where we see that there is something called as primary activities secondary activities and tertiary activities I will be taking your doubt you asked me ma'am what is nature of employment I will tell you right we will go it step by step I have started only at 15 minutes back so jaldi jaldi don't worry we have not missed much right now primary secondary and tertiary right is going to be very simple and easy to understand because we've learned in our lower grades right so when we talk about this primary activity secondary activities and tertiary activities right so you can understand this on the basis of the example that you see right here now here what do you see you see that there is a cow then we see that there is milk production then you see that there is a milk packet right so this is the easiest way of understanding so now of course a very important example which is given in your textbook is again based on Cotton cotton yarn and of course we see that then that let's say cotton garments are there or let's say shops are there right so first and foremost from cotton right where will I get my cotton I will get it it's a natural product right so we see that the activities which are related to agriculture Dairy farming mining forestry all of this it comes under the category of primary sector now what do I mean by this so we know that many products right many products they are either we see that whether it be uh your food based products plant-based products whatever it is the raw materials for that right we see the raw materials that are there are normally plant or animal based or normally we take minerals so we see that natural resources here are exploited now we can use it directly or at times we also know that we can take it indirectly right we I mean indirectly in the sense we take the climatic conditions also which are natural resources so in this particular case if you see if I want to start right so imagine I want to start my shop okay and I'm going to call it aishu garments yes so I want to start my shop which is called as aishu garments now here I will tell I will give you 100 cotton you know Kurtis and cotton tops and everything right so now of course as we all know I am selling 100 cotton which means I need my cotton plant right I need my cotton plant in the first place to make those garments now where will I get it from I need to know that I have to cultivate it at a large scale right so this right here is I can get it by practicing agriculture so in this particular case we see that if I am going to depend on this we see that this right here comes under the primary category right which is which are activities related to exploitation now exploitation normally we think of it as a bad word right but exploitation as in you are overusing is what we will normally give it as an analogy but your think of it as using it completely right if I'm buying cotton I'm using it completely yes and this see that they are extracting it from natural resource primary sector that is there now we also know that from The primary sector we can get raw materials but agricultural related base also gives us food right so this is also another very important thing so are we clear with primary sector we see that the primary sector is also called as agricultural Agriculture and related sectors that are there Phoenix but I am going to explain that right just give me five minutes if you don't listen to me then Pura kapura then you will get lost in between right I'm going to tell you that next of course in my journey of opening issue garments right I have cotton here but of course I cannot just make cotton and then sell that cotton as it is and say hey you know what this is cotton flour you put it that is a dress for you no I need to produce my garments no so it means that I may have to convert some amount of this cotton into maybe I need to make it into maybe a shirt or a T-shirt and for all of this I require you know cotton threads or I require cotton yarn that is there right or cotton threads so here I need to con convert it into another form right so this right here is what we call as a secondary sector if you want to talk you go outside the class and talk right why are you talking in my class and disturbing others I only I'm not stopping you from talking I would want to but you pay attention to me you know I'm also sitting here and talking and explaining you listen to me or you talk somewhere else and you come back and listen to me data but don't disturb others okay so now of course right so let me tell you one thing as we all know we see that there needs to be a conversion right we see that there needs to be a transformation of natural products and then you need to transform it through other or you need to convert it into a different form right so that is what happens in the industrial sector or through manufacturing right so similarly when you convert you may cotton into yarn right or when you get sugar from sugarcane these are all some examples right and we see that this is associated with different Industries so the first thing that comes to your mind is going to be factories or your cottage industries now finally right finally as we all know we have the tertiary sector now your tertiary sector is not like one two and three see understand that if this is your primary sector and this is your secondary sector it is not that it is a linear flow where your tertiary sector comes third right now this is a common misconception students have right as you all know this right here is going to be the tertiary sector that is there now your tertiary sector supports your primary as well as secondary in producing those goods right so if a farmer for example when a farmer requires or he is going to produce cotton right it's not like oh yeah I'm producing cotton that is enough for me he might require maybe some money to you know buy uh fertilizers right he might require some money to buy some pesticides he might require some money to buy seeds right then along with that after the crop is grown farmer might require fire to maybe have a maybe a tractor or maybe a truck to take his cotton to the shops right so in all of these cases we see that the tertiary sector that is there includes Transportation communication and services that is there right so yes tertiary sector could be said as a link between your primary and secondary yes and we see here that it supports these two sectors so these are activities that do not directly produce any Goods but rather they aid or they support that production process right and we see that they provide services so all of these are examples now examples of tertiary sector include transport it includes storage it requires communication and it banking right these are all some examples yes and these are involved in generating those these are involved in generating those production like you know whatever we discussed so far for primary and secondary but understand that Services need not always be involved in generating goods and service right it could be indirect also for example right let's assume teaching yes you ask me ma'am teacher why is it that teacher is teacher in tertiary sector or secondary sector I am in teaching right so I am a teacher I am providing you a service where I am teaching you economics right and tomorrow with this knowledge you might either get involved in primary or secondary sector or you yourself will get involved in a tertiary sector you might become a banker you might become maybe you know um entrepreneur or whatever it is right so here it is a service that is coming in similarly if you look at Radio Barbers your cobblers your washermen your Maids these are all they're not involved in producing a good but rather they make your life easy right they're providing you a service yes which is why in this particular case we see that this right here is a service sector right now is there an interdependent relationship between these uh sectors Gira is asking me of course there is an interdependent right so we know that if there is a primary sector right if primary sector is there it's not that seeds alone is going to do the job for the farmer for The primary sector to produce act you know to practice Agriculture and produce agricultural related products they require maybe pesticides and they may require fertilizers which are manufactured at a large scale by the secondary sector they may require tractors they may require some you know they may require maybe some instruments and devices from the tertiary sector so in this particular case they are all interdependent on each other for production of goods and services right so are we all clear are we all clear yes they need to tell me very nice that you're an anime fan right so far I'll be clear this question on interdependence right now interdependence May what you can do you can do explain this with an example right you can explain this with an example of the cotton example that is given to you right ABY for cotton that you need for production of cotton you require maybe some fertilizers chemicals which will be produced at a large scale by the factories right and similarly if you want to transport your primary products you require this yes but chemicals are directly manufactured in the factory so where is the primary sector in this process exactly my point right so sometimes in some case again don't think of it as a linear thing that is where the mistake is coming and I know that many of you are thinking it is linear right raw material has to come from here then it will go to manufacturing right and then it is going to go into tertiary right that is a linear example that you are thinking about now what I'm trying to say it is not linear it is that each of it is interdependent on one another right that means it could be vice versa also marketing is the service marketing is a service right so what is the definition of primary sector primary sector is a sector which utilizes natural resources and to uh go back to that only primary sector is an really is responsible or it is a sector which includes all the activities that are related to extracting natural sector right yes ma'am secondary sector again okay doctor comes under tertiary right selling fruits directly could be an example of primary very good right I'll give you this with an example okay this is going to be easy how many of you love samosas very quickly how many of you are fans of samosas how many of you are fans of samosas I'm sure that all of you will be fans right beautiful crunchy Samosa that is going to be there right how many of you have made samosas with your mom how many of you have actually made the samosa yes very few I have not made Samosa right so I'm going to pretty much wing it in terms of how samosas are going to be made I have not made it I have a terrible cook by the way I can't cook at all some few things here and there I might be able to you know basic survival skills I have in terms of cooking right so now if I want to make Samosa what do what all things do I need right what is my recipe list for Samosa my recipe list for Samosa is going to include Aloo yummy yummy Aloo yes it will include some masalas or some spices right and I'm gonna write spices then I will also require some flour right I will require flour then of course what else do I need I need oil right then of course apart from that I might require one kadai right I need one kadai to fry it I need gas right I need to have gas as well basic roughness that I have made now where am I let's back trace this right let's go and let's Back start back tracing it now when I want to make my samosas I know that my Aloo and maybe my spices right my spices that are there they are produced in the agricultural Farms so this is here is produced by your primary sector right so this right here is produced by your primary sector yes and it is directly sold by The primary sector no they are directly given but now if I want to get maybe masalas right let's take Masala as an example oil oil and flour yes your Masala basically is a powder right it is a powder of different spices that are there right so we see that this right here is made up of different spices all the different spices are powdered and it has to get processed then you get Masala oil also it's not like oil directly comes from the plant whether it's your sunflower seeds right or whether it is going to be uh ground nut oil whatever you want to use at my house they use sunflower oil so I'm writing sunflower and your flour that is there no not full it is flour wheat flour that also comes from wheat right now in all these cases we see that there is a raw material and we see that they need to be directly right they need to go into some processing some manufacturing so the second aspect of it this list of things come from your secondary sector now you also have your kadai you have your gas and everything now your are made of aluminum you get it from mineral sources right so here directly you have your secondary source getting involved right and in the end right in the end what will happen if you have to get all of this to make your Samosa you will go to a shop right somebody has to transport this to the shop somebody has to bring it to the city right and then of course to make all of this those people require money which is why we see that your tertiary sector is coming and tying it all together so if my Farmer needs to make Aloo and spices he needs to purchase things right then of course if they need to process and open a manufacturing industry they require loans right they require transport and we will learn more about it in manufacturing Industries right and then of course in the end all of this is going to tie it together so are we all clear how exactly they are interdependent it is not linear you get it right it is not a linear one but rather it is an interdependence that we observe here right are we good vegetable vendors very good vendors in themselves for this particular thing comes as a servicer YouTuber service service sector YouTuber is a service sector I'm also partial YouTuber right doctor is not secondary Bachelor doctor is a service right doctors is a service good take care let's proceed one hour is my aim one R is my aim right I do watch but let's keep all those questions in the end right all right uh now now randomly you are asking me I'm the Taylor cobbler everything see if your cobbler comes your tailor will come everything will come in this category also take care now we will move on to a very important part in your textbook see I hope you have your textbook I told you know I'm gonna have Snippets from your textbook now this is a very very important part of the chapter because if you understand this that rest of it is very easy okay there's not there's nothing much complicated about this chapter to be honest this only requires some understanding now how do you know right now you have primary sector secondary sector tertiary sector all of them including economic activities that contribute to the economy of the country okay now you imagine right I made let's do some analogies okay so now you imagine I made ten thousand I got 10 000 kg of Aloo right I got 10 000 kg of Aloo and then of course I may be let's assume that we used Arlo to make Aloo parathas or something right so then of course imagine I say that I made ten thousand Aloo parathas right now how will I compare how how will I evaluate right you evaluate exactly how will I place the number is 10 000 kg of or lose and ten thousand kgs of Aloo parathas the same or different there's a lot more effort that goes into it right it also goes a lot of other effort goes into making Aloo parathas the amount of time and effort and everything you cannot really compare and contrast effort going here effort going there number wise it's going to be a little difficult right and this I gave you a very generic example now you think about a maybe broader example right or maybe a more expensive example let's take so for example Maybe I'm thinking yes now you imagine there are 10 000 maybe kgs of aluminum which was extracted right and this aluminum may be or let's say that at the same time all this aluminum was used to make maybe huge factories so can I say that the amount 10 000 aluminum can I compare 10 000 aluminum with 10 000 machines that I am making maybe machines for my manufacturing industry I cannot it's not a fair basis so the number game is not something which is ideal in order to evaluate how much we have done right the number is not something which is ideal for us which is why the value right so the value is important right I don't know the page number of the textbook but it has a heading it is in the initial Pages which says how do we count the various goods and services and know how much each sector has contributed right how do we know each sector has contributed so here they have given us a beautiful example no because day to day basis in different sectors thousands of goods are produced but you will think that maybe right they have given us how can we add up cars computers and Nails it will not make sense you cannot compare Furniture car and nail they are all very very different which is why we see that instead of counting number the value of goods is very very important right so this value is what we are going to understand now let's go back to my Samosa example yes we are going to go back to my Samosa example in your textbook they have given biscuit I think I'll actually take the biscuit example itself right so in your biscuit example now again the analogy I use is very linear towards biscuit only okay now your biscuit example that is there your biscuit that is there is made up of wheat flour right it is made up of wheat flour now in our household we have wheat so let me write this here you have primary sector here which produces wheat right and we see that some amount of wheat is sold directly while some amount of wheat is gone to the secondary sector which is made into wheat flour right so we see that some amount of it has gone into the secondary sector so that we are able to make wheat flour are we all clear let's use numbers to make it easy imagine if I had 100 kgs of wheat flour 90 kgs I sold 10 kgs I sent it to secondary sector to make wheat flour now from here I will sell 5 kgs right 5 kgs I will sell directly as a wheat flour but I I will maybe send 5 kgs to the Biscuit Company so that they will use it right so they will use it in the biscuit company now the same wheat right same wheat you have some wheat getting sold directly while some wheat which is undergoing a transformation so when I am going to calculate right what was the turnover from this sector we see that there are two aspects right how can wheat grains can be sold in some cases I'm giving you a hypothetical example right wheat grains can be sold yes now here I want you to tell me should I consider value I will explain should I consider the entire 100 kgs which was produced in my primary sector or will I consider only 90 kgs and then remain maybe considered consider the 10 kg separately what will you do if I have to tell you how much wheat grains did The primary sector do you try to do it yourself see you trying to do it yourself don't read the textbook or anything whatever comes in your mind you try to answer Samia says Mom primary sector made 100 kg so you have to consider that 100 kg right so this right here is also going to you're like Mom that only makes sense but what will happen is that if you consider that 100 kg as it is no what will happen there is one 10 kg here right this 10 kg is a part of this 100 kg similarly this 5 kg that I'm including in my biscuit is a part of this 10 kg So eventually what is happening is there could be duplicates that will get there right so when I say oh I made 100 kgs nobody will realize that actually 10 kgs is part of that other product other wheat flour that I made so here there could be a discrepancy right so there could be a discrepancy which is why what happens is that here we will consider only 90 kgs okay whatever I'm saying directly I will consider 90 kgs here but then you will tell me ma'am how how can you disregard that 10 kg the value the worth that we are associating with it no if say it is for 50 rupees that 10 kg was for 50 rupees hypothetically or 500 rupees in the market how can you disregard that 500 rupees it's very important that's never getting disregarded but rather that 10 kg is getting counted here when in my secondary sector similarly whatever 5 kg I'm giving to the biscuit company that is getting con the value or the worth is getting Associated here right discrepancy means mismatch so technically when you think about it we see that they're every good or service that is produced or sold has to be counted I am not saying no whatever we produce has to be counted right but it only makes sense to count the final good or service right so there is something called as intermediate and final so what we learned about no there were those intermediates like wheat flour so wheat is an intermediate for wheat flour wheat flour is an intermediate for your biscuit yes so we see that intermediate and services and goods that are there are basically used for further production or processing right we see that they are used for further production intermediate they are in between they are not final right but at the same time right at the same time the final good that is there is what is directly reaching me if I am buying vegetables from a vendor that vegetable is the final good if I'm buying Samosa Samosa is the final good our Luca price is already Incorporated in the Samosa that I am paying for right so are we clear with intermediate and final yes or no are we clear I wonder yes or no because this is a very very important concept to understand right are we all clear yes I will not stop you no once again definitely right so I will go back to the textbook so that I will explain this right with the help of your textbook I hope you are underlining the important pointers that I have marked so let's take the example here in your textbook itself yes I don't know if my highlighter will work oh awesome it works so now of course we see that a farmer who sells wheat to a Flour Mill he sells it for 20 kgs okay now the milk grinds the wheat and sells the flour to a Biscuit Company for 25 kgs right let's write this down farmer gave it to mil for how much he gave it for 20 kgs right Mill gave it to Biscuit Company for rupees 25 kgs right and here of course we see after that no what do we see biscuit company uses sugar oil that flour and makes packets of biscuit and it sells it for 80 rupees that means 20 rupees per packet yes now here what is reaching me at the end of it am I getting you know what is reaching me I am getting my biscuit at the end of it I don't care about where it came from I am getting my biscuit so here my biscuit is the final good that is there right so here we see that it only makes sense for the final good because if you think about it this 80 rupees that I am paying right that 80 rupees includes the 20 rupees includes this 25 rupees and in the end all of that is already included yes so we see that all the flour the mill and for the flower the sugar oil they are all intermediate Goods right right they are all intermediate goods for my final product which is the biscuit right so why only final goods are counted because in this case the flour is an intermediate I am not getting the flour I am getting a biscuit so my flour is a raw material or it is an intermediate right and the value of my final good that is my biscuit includes all of it it includes the flour it includes the sugar it includes the oil right and we see that I am getting it at the end of it are we clear this is the example which is mentioned I gave you an analogy of samosas right are you clear about this are you getting a rough idea now I've explained it once again I hope we are clear or everybody's like Mom everything is going above my head right how much kg of wheat in primary sector that depends right so if more amount is directly being used right so imagine right I'm using wheat flour the consumers use more wheat flour than wheat grains then we see that they will give it to wheat flour at a certain rate right yes ma'am intermediate is required absolutely intermediate is required see if intermediate goods are not there how you will get final good right how will you get the final good so you think of it in this manner if you are a farmer right if you are a farmer okay I would say I'll explain this because I know that uh this is very very important in terms of your GDP otherwise you will tell me my GDP is not there Mom in the example you told wheat grains may be given to factories for making wheat yes it will be there so that is your intermediate product that is coming right now you have wheat wheat flour and you have biscuit right now two options are there right two options your wheat that my Farmer is doing is a part of my primary sector if my wheat grains are sold directly right if they are sold directly to the consumer who is the consumer consumer is the person who will use the grains as it is if I decide to make wheat Ka maybe porridge right I am using the wheat grains as it is it is not changing its form so here if it it is reaching me as it is then we say that this is part of the primary sector so your vegetables and all come under that category similarly if I sell it to maybe a mill right I sell it to a mill so that what they will do they will change the form of the wheat understand that wheat are in grains now wheat grains are becoming wheat flour and if this wheat flour is then sold and it reaches the consumer then it is the final product in this particular case right but imagine if I say tell this wheat to maybe a biscuit Factory it will again change the form of the wheat and give it to me in the form of biscuit and this biscuit is what I am getting and it is sold and it is reaching the consumer so are you getting the concept of what is a final product right are you getting the concept of final good that is there yes now you're getting an idea exactly so basically whatever you will use as it is right that is the final good that is reaching you wherever there is an intermediate coming in or wherever there's going to be a change of form that is going to be an intermediate good so here what they're trying to tell us right biscuit is final but if you're using biscuit as a base for cake then your biscuit becomes the base so understand that there's gonna be different right so in the end value of goods and services so you were asking me ma'am what is this value value is calculated in terms of money right PESA PESA and only the PESA or the value of the final good is considered and final goods are those which are directly consumed right so depends on the way we use wheat exactly so that's what this point says final goods are directly consumed or used right and the intermediate that is there is what is used for the production right that is used for the production of final good and the value that you associate with it right the value that you are going to associate with each sector so this much money primary sector produce this much money secondary sector produce this much money tertiary sector produced that is the sectoral value that you will do right and of course the total monetary money right so we see that the value of final goods and services that you produce in a year right for a country is what we call as GDP right gross domestic product yes okay yes ganga deep I think you are a very interesting question I will answer that right so ganga deep is asking me ma'am if we cook vegetable then that is final good no not that vegetable is produced after direct Harvest I mean gagandeep see you are buying the vegetable what you do with the vegetable at the end of it is your choice I am the consumer I am buying it now if I cook the vegetable and then I sell it right I am selling it then it's a different story what I do after buying if I buy a laptop and then I decide to keep it as it is and I don't use it nobody will be like oh GDP is getting affected consumer is endeep I hope you are clear vedant I know I'm there in both but I hope that you are convinced right yes it also depends on the consumer of the cell consensus of the seller whether it wants to sell as wheat grains or wheat factories or so again not just consensus of the person selling it right it's also where person makes profit if I know that I am going to make more money selling it to the factory like for example with wheat grades the number of people who will use wheat flour versus to wheat grains is largely different there are many people who use wheat flour more than wheat grains so I would rather sell it right so that I make more money so I hope you are clear right GDP is a concept which is there in grade nine also exactly very good restaurant is an example mam grain used for cooking is final or intermediate directly if you get your rice grains as it is right with the husk and everything that would be a way of cooking directly my Ambit sector would you watch a tree grow or a negro that is a very good very good question tree grow why would you watch a tree grow like for botanists and all that hurricane comes in tertiary right yes we eat salt directly then that value is counted in GDP yes but that will come in the primary sectoral value and this gross domestic product that is there is calculated or it measures is measured by the central Statistics office right are you all clear are you all clear with what is GDP because after this we have to learn some more important things right that is to understand how each sector has been changing over a period of time this particular part question says only will come next part is very important shall we proceed shall we proceed to understanding the shift in sectors right you will find out and tell me Phoenix this year the GDP was there right I have explained it three times I request you to go back and watch it again right whatever you are not able to understand you can go back and watch it you will be help it will be helping you out right pesticides getting produced will be secondary because pesticides are produced from chemicals then it is sold to Farmers right so the selling bit of it is tertiary but it is kind of selling it to the primary sector I hope you are clear so now the graphs that are there right very good that you've gone and found this out now the graphs that are there no in the textbook is very important because you can get graph based books so figure number graph one which talks about GDP or contribution of each sector to the GDP is given to us yes now you understand Ravi Bacha please don't spam why you're doing all this you pay attention right pay attention in class now of course these graphs are important because as you see it's talking about how each sector I told you about a sectoral value you know the value that each sector or how much each sector your primary or secondary tertiary how it has contributed to each of it so here you see there is a graph it says this is a contribution in 1973-74 then you have another contribution which is 2013 and 14. so what do You observe from here is that over a period of time right your blue represents your primary sector your red represents secondary your green represents tertiary okay now important thing to understand right important thing to understand is that agriculture was the major contributor way back in 1973 but over a period of time right over a period of time we see that there has been a gradual shift now the gradual shift has not been primary to tertiary but rather there was a shift from primary to secondary secondary to tertiary now earlier in the days when way back in 1973 74 new farming methods were involved many people were employed in the agricultural sector but over a period of time we saw that the industrial sector started to take up right we see that the industry so people although they were working in the agricultural sector lot of manufacturing industry started getting set up yes in some cases people were forced into it also that's a different story but people who earlier worked in farms and everything started moving into factories and Factory workers right and we saw that eventually more amount of goods and more amount of goods were produced at much cheaper rates now eventually we saw that from secondary sector right we saw that it started shifting into the tertiary sector right now it started shifting into tertiary sector now the question on importance or why has there been a sudden shift into tertiary sector or why has there been a sudden change in the GDP contribution or from the tertiary sector this right here is very very important right students please star mark this yes that question was a very good question but I would request you when I take a pause after explaining this I would like to discuss that question right very very important so now this one Rising importance of tertiary sector in the production will come as why has there been a shift right why has there been a shift to tertiary sector and students this will come as a long answer question for five marks or three marks if any of you had UT where this chapter was there I'm telling you you will tell me yes ma'am it has come for someone out there this question would have come because it's a very common pyq right this is a very very common P byq that is there from this particular chapter so I hope you have your textbooks open because now we're gonna discuss a little bit about importance or why there has been a shift to tertiary sector so firstly we see that there has been an increase in services like your educational Society your educational institutions come I knew it right so now we see that there has been a shift increase in services in general so more number of hospitals have come into the picture more number of Educational Services right we see there is police stations Municipal corporations transport bank and everything right and they are considered as basic Services if they are considered as basic services that means that more number of people will be getting involved into this right more number of people will start going into this that means that the contribution of tertiary sector has become more so there has been a rise in the basic Services now secondly we know that there has been development in the agricultural industry right so if there has been a development in the agricultural industry there has also been development in trade transport storage and all of that so over a period of time since there was already development in these two sectors there was more Demand right there was more demand for the tertiary Services also yes now along with that over a period of time we saw that for people in general the amount of money they started making right that also started increasing which meant that more number of people wanted to go out you wanted to go to malls shopping go for a holiday you know maybe have private hospitals so now of course whenever there's a vacation you want to go out right you don't just want to go and play in the park you maybe want to go visit some fancy place yes so all of this is also because of the rise in income and last but not the least there has been a lot of new sectors based on information and Technology right so here you and I are able to connect because of the rise in the information technology sector right we have platforms like YouTube that is allowing us to connect with each other so why has there been a shift because of these four pointers and students please mark this in your textbook because it's going to be very very important right yes so bam it's saying that if there has been increase in employment in tertiary sector there has been reduction in primary sector very good question you will think that right you will think that over a reason of time we saw that contribution remember I did not tell you that people getting employed contribution of the GDP right contribution of the tertiary sector to the GDP is high right that is what I'm saying percentage of contribution is height why because of these reasons rise in basic sectors development of primary and secondary sector rise in income and exposure of Information Technology but I did not tell you employment right I did not tell you employment wise you will naturally think that if so much Services sector is providing that means that or if it has this much contribution in the GDP that means that many people are still or that many people are working in the service sector you are largely mistaken because we see that despite all this right the service sector is not growing equally well we see that firstly we of also observe at one end there are limited number of services which because these Services require a lot of skill and education and in this particular case there's a very small percentage of people who are actually skilled and who are able to do this and secondly a large percentage of services are shopkeepers repair people transport conductors and everything right so we see that only a part of the sector is actually growing in importance and employment wise if you notice this graph only 31 percent right your 18 has become 31 but even now The primary sector is the largest employer why is the primary sector the largest employer we have discussed because it requires skilled workers right so we require skilled workers we require educated people and many of them are still in the primary sector which means that many people are in primary sector but primary sector is not giving a large percentage of contribution in the GDP look at these two graphs very clearly okay look at these two graphs very clearly here is percentage of how much each sector is contributing right so we see that in this particular case this graph should have been slightly bigger right here we see that tertiary sector contributes to a large percentage of GDP but employment wise right employment wise I'm sorry employment wise this is the graph where your primary sector is still the largest employer of people right so that is the difference between the two graphs are we clear very good very good yes so first and foremost even though tertiary sector was able to do this right it could not create enough job opportunities right so we see that it could not create a lot of job opportunities and because of that what happened it started resulting in disguised under employment right or disguised unemployment okay let's look at this with the example in the textbook okay now in your textbook let's have a look they have given about Lakshmi right a farmer called as Lakshmi who owns about two acres of an irrigated land that means she has no facilities of irrigation and she has a very small point of land right now of course he's only growing crops like Johor and arhar yes now what happens all five members of our family are working on that small piece of land yes and eventually we see that they have nowhere else to go for work which is why we see that even though they are working so many people are not needed to do that work right which is why we see that this is the situation of underemployment and this kind of underemployment which is hidden as a contrast to someone who has a job but does not have much to do is what we call as disguised unemployment are we clear what is disguised unemployment it means that even though they are employed very good AV people appear to be employed but they're actually unemployed so I ideally to take this class I'm enough but you imagine I bring some 56 people and I make them take the class one by one by one right so this of course as we all know right of course same chapter I'm dividing and doing it not needed right more people are working on it than required so ideally what will happen her income gets affected so imagine in that family of five people imagine if two of them would have gone and worked maybe for some other very big farmer or maybe they would have gone and worked in a factory then two people would have worked on the farming land two people would have worked in a factory one person would have worked for maybe a very big farmer and they would have generated more income but now because they are not doing it they are you know not having enough income that is getting getting generated right so which is why we see that this is not just in the rural space right even in the urban space we see that there are you know there are painters plumbers repair jobs and many others doing odd jobs now in their case if their job is also not regular it's not like every day you need a plumber in your house when you have a problem you will call a plumber right which is why what we all see we observe that after one point even the service sector right they may spend a lot of time if you look at vegetable vendors off late with services like you know online shopping and everything coming in how many of us actually go out and buy those vegetables from vendors on the road or how many of us actually probably go out and maybe you know go out and buy it from a shop normally we keep sitting and we you know doing do it on our phone so that way what happens even their job gets affected right which is why we see here that this guy's unemployment is one of the reasons underpaid workers and lack of better job opportunities right so that is one very important thing to remember now before I go into the next topic have we understood this because importance or why has there been a shift to tertiary sector and why is it that even though the tertiary sector has shifted the opportunities for employment is left right yes ma'am if you said that that has been primary to SEC countries have developed see countries getting developed contribution to GDP is one way of you know measuring economic growth but also creating equivalent job opportunities is very important because else what will happen even though that has been there there's also going to be inflation and many other things that come into the picture right please don't spam right please don't spam I request you Montessori sector has created job opportunities but I think population has rise so rapidly that yes exactly comfy studies that could also be a very important reason thank you so much divyanshu yes ma'am unemployment and underemployment are the same no unemployment means no job right underemployment means that underemployment I think I use by mistake right our under employment is a different context altogether ma'am they don't get enough income why work in agriculture very good if if all Farmers decide I'm not getting money in agriculture I should leave and go who's going to do agriculture think about it that way it's not like farmers just let go of Agriculture and go behind money after a point we require that right no food who's going to eat food exactly so very very important so which is why creating job opportunities or in making sure that see which we will learn in the latter half of it it's going to be very very important right they are not awarded enough as well okay so now let's understand a little bit more right let's understand why is GDP important I've just explained GDP helps you measure the economic growth that is there right yes not skilled see you cannot say that agriculture does not require any skill you need to have some understanding right you gotta have some understanding of it so basically disguised unemployment I'm just going to do it one and once again disguised unemployment right or going back this guy is unemployment that is there is simply nothing but when many people are doing a job which can be easily done by one person right so because five people are involved in one the output is not going to change five people who have two people work whatever you are going to get out of the two acre land is what you will get at the end of the day right so rather than that what will happen five people are now dependent on the two acre landka income but you imagine if only two people put work on this two people went there two people and when there they're all getting Collective income right yes ma'am but agriculture is also higher than tertiary sector percentage of employment is higher in agriculture sector percentage of contribution to GDP is much lower right yes why in India there is less job oh see you again many factors are there for job market because a job market just does not depend on one aspect there are many reasons right one among the many reasons could also be the population the demand that is there at the moment right what kind of services are needed qualifications yes many aspects that are there as to why and again it's not that there are less jobs right there are sectors wherein job opportunities are are there population is one very important contribution that's a very important factor yes okay so now we will move on right yes that's also a very important thing High competition is also there exactly so shall we move on or do you want to take a two minute water break right can I take a two minute water break and then we're gonna move on to understanding about ways to generate employment question to answer right ma'am if there's a lot of job opportunities right if there are job opportunities if Less jobs are there what do we do yes so I'm gonna give you a two minute water breaks for you and for me right and we will come back and we will learn about more of it right yes okay two minutes and I will be back foreign foreign I hope you had a good break I was just sitting down there and drinking some water are we back are we back with Josh are we back with energy I realized I told you oh but not and I'm just halfway through the chapter right yes okay are we ready all right okay this has very high weightage okay this chapter is very very important so I hope all of you are clear secondly one more thing that I would like to tell all of you here is that the question student Ash asked about what is the full form of JDP or JDP can be defined as the total value of if the word final goods and service goods and services is not there then the answer is wrong you could have multiple combinations so goods and services that are there is going to be very very important so final goods and services is the answer yes okay Mom oh thank you so much I also believe that right so I know because I know some of you especially for students watching this after much later after the live stream this live stream has happened very late in the night right that's why I'm constantly telling students to have dinner and everything so that is why you see unemployment see again unemployment is that unemployment versus underemployment you see it's based on seasonality it's based on larger macro economic factors right so again it keeps shifting I would say right okay underpaid means people are not paid as much as they should be earning right so that is what we mean by underpaid so now that we know that there is a shift in even though there's a shift in a contribution of GDP there are still employment issues so how are the ways in which I can generate more employment this is going to be very very important for all of you to understand right so from the above discussions this is what we have understood so firstly right in this case underemployment in in this case right underemployment is what we learned random person now I'll make this a little clear so that you are clear this guy is the unemployment is an example of underemployment right so unemployment means no job let's think of it as this no job but underemployment means that a person right a person who has a job is not contributing enough or he is not even though he's employed for the work he is not doing enough so when a person like in the case of Lakshmi and her family when we looked at it that is disguised unemployment right that means that even though they have work it's as good as they have no work right that is what we mean by this so going back we see that even though we observe that underemployment continues what can we do we can see that in the first case we can see that Lakshmi owns unnitated land so we can see that we can she can reach out right to get from Banks especially to get loads right so she will be able to reach out to banks in order to get loans now similarly we see that one is that is one way where she reaches out alone then she irrigates her land and then she is able to prosper right so that means that more number of people are able to go and along with that we see that that way more produce will come and the remaining members of our family can maybe you know work in her own field or some of them can go and they can maybe work in other places right thereby reducing the chances of underemployment now imagine right imagine that she produces much more than before yes she will then end up selling some also from that also she will be able to make money and along with that we can see that moving on like having truck drivers contributing to services that is one more way in which yes so we see that this activity can provide employment not just to Farmers but Services also right so the government investing money in transport and storage yes government investing money in transport and storage and crops will help the rural areas become better now along with this one very important thing to understand is opening cold storages for Farmers right so storage spaces need to be well developed so that farmers can store their produce and thereby whenever they need to you know sell it they will be able to sell it right and we also see that there will be people required to maintain such places so that will also generate employment yes so over a period of time we see that institutions like the Niti ayog have been working actively towards creating close to 20 lakh jobs right so that people can be unemployed I mean people can be employed yes so quickly to recall we see that people can reach out to Banks to take cheap loans for Farmers generating employment and construction of dams in rural roads and storage facilities then we see that investing in basic services like Transportation communication all of this would encourage encouraging non-farming activities as well right so to promote tourism and everything Cottage tourism I.T sectors all of this will contribute and creating jobs in healthcare and education sectors so going back I think I missed out one point which I did not explain properly then would create 20 lakh job opportunities in the education sector alone right education sector alone pay they are going to create 20 lakh job opportunities which is why this is something you need to remember very very importantly right now ncrt reading is not something you will require you have to read ncrt but like I said I've put these screenshots not because I want to read out of it so that you may a point of all the important things that we are discussing side by side right so these are ways in which you can generate employment students take a screenshot right now because this part right here will come for five marks easily or this can come for three marks these are sure short topics from which you will get questions and I have put ncrt Snippets off topics from which you will get your short questions otherwise I'll come to the full NCR tune you know why do I need PPT I've lost energy to stop the spammers today I'm really sorry I'm I'm very tired so I'm not stopping them so other ways of course is you have mg mg Negra right so I don't know how to say the thing without it but you have mg n-r-e-g-a which stands for the Mahatma Gandhi National rural employment guarantee act which ensures that especially for people who suffer from poverty right so they will provide job opportunities for them where they will say 100 days of work daily wage worker or something they will be able to provide government say right and from here they will make sure that allowances are also paid as per government they don't get exploited by these private workers and they don't you know get enough money the government will also make sure that they will provide proper wages and in case if they are not able to provide job we see that they will be the government they will provide some unemployment allowance so if the government is failing to provide work to them then they will make sure that the government in itself is going to provide it right so another way when you thought important thing is my Negra right mgnrega is very important to remember 100 days of guaranteed work so very quick questions to my students when more people are working together on the same task than required while productivity and income Remains the Same what do we call it seasonal unemployment employment uh cyclical employee unemployment you clearly see that that's not the option hot disguised unemployment very good all of you very good in this particular case the correct answer here is option number D and with this I have finished three fourth of the chapter three fourth of the chapter is over now you are left to the last two topics which is nature of employment and ownership of asset now this again is also very very important because in nature of employment you understand that based on the nature of employment you can say that sectors can be organized and unorganized and many of the time question in your board exam will come as three sure short questions okay one in three will come what what are the benefits of organized sector right they'll ask you what are the benefits of organized sector or they will ask you what is the difference between organized and unorganized sector or they will ask how can we protect the unorganized sector these are three short questions one and three will come it will either come in your midterm exam it'll either come in your pre-board or it will come in your unit test I 100 sure your teacher is going to find it and give it to you so please please please please put a star Mark okay now we will go on to it Amal I would have been teaching I missed your doubt you tell me what it is again but not now you tell me in five minutes because I'm going to teach this part right so now of course let's quickly move on to understanding about nature of employment that means that if I am an employer right or if based on my employment I could be in an organized sector or I could be in a non-organized sector right now teachers that are there come under the category right teachers that are there come under the category of organized sector this is very easy organized sectors are organized because they come under the dormant I mean I simply said that but yeah they are organized or they are called as organized because they are controlled by the government that means that their work is assured that means there are certain laws which are laid out by the government that has to be followed various laws like your minimum wages act your payment and gratuity act you have shops and establishment act so many acts out there which has to be followed by the company right and we see that job security is there fixed number of working hours are there that means that there will you would have heard no there are nine to five jobs that means they have to come and they have to you know log in at nine o'clock or they have to log out at Fiverr and log out at five o'clock so what what do you say fixed working hours are there not like they have to sit 15 hours like that nothing of that sort they have fixed working hours yes seven to eight hours there are safe working conditions provided right basic facilities like water you know toilets everything will be provided and of course there are various benefits also paid leaves will be there medical allowances will be there Provident funds would be given gratuity money pension money all of this would be provided right PF is your Provident fund that would be cut from the salary and it would go directly yes so in this particular aspect we see that the organized sector has various benefits right all the rules see now it's not that it is the it is government companies or government organizations it could be government organizations it could be private but they are all following rules and regulations of the government right then you have unorganized sector now in unorganized sectors are basically scattered yeah sorry maternity leaves are also here sorry I missed that maternity leaves for women when women become pregnant and they bear a child they can take a maternity leave which is a paid leave again right you're paid maternity leave comes under paidly yes then we have unorganized sector unorganized by the name only you know they are scattered so they are not directly under the control of the government and we see that labor laws are not followed in such cases so here we see that there would be lower wages and no paid leaves so if you think about it your shopkeepers right your shopkeepers your vegetable vendors okay vegetable vendors daily wage workers they are all examples of your unorganized sector so tomorrow right tomorrow as you see imagine tomorrow I decide okay I don't want to teach anymore I will become a shopkeeper and sit I know now that I have paid leaves I can take if I'm not feeling well I can take a day off I can stay at home I can take care of myself right I can do all of that because I have the facility here but tomorrow if I decide to become shopkeeper and I'm sick and I don't want to open my shop then at that point I will only be affected No so at this point we see that this right here is going to be very very difficult and comfy studies it's okay you can come back and watch the video no problem ticket which is why who works in the unorganized sectors three categories in rural areas it includes your landless agricultural laborers right so people who don't own a Land they become your landless laborers small farmers artesians in urban areas it's your casual workers your rack because right people who work as maids and along with that your street vendors are there right and majority of them normally work as in the lower communities that we observe ma'am conditions could be worse absolutely right especially if you're a daily wage worker and everything right because life is a little difficult for women in general right because they don't have that ability to take off right so which is why we see here that there needs to be protection against the unorganized sector or protection to the unorganized sector workers now how to protect is what is there in your textbook right so very quickly let's go through the important pointers now first and foremost understand that the organized sector jobs are more sought after but eventually we see that even we observe that over a period of time right we see that over a period of time in the unorganized sectors we see that they pay a very low salary and they are job their jobs are basically they are not paid properly which is why it is important right these Vector uh let me go to the one that is there yes so because they are exploited right we see that they can be protected where in the case of rural areas no in the case of rural areas the farmers are provided with some subsidized money or subsidized agricultural inputs that means that your pesticides thus uh whatever your tools or maybe whatever uh what do you say your pesticides your fertilizers all of that will be sold at a relatively lesser money right then of course we see that cheap loans can be availed by small scale say Industries so that they are able to take care of themselves and labor laws must be implemented right so labor laws need to be implemented so going back because I'm not able to find the broad pointers right in rural areas they have highlighted unorganized sector comprises of these guys which is why these Farmers need to be supported through adequate facility with timely delivery of seeds agricultural import credit and storage facilities in urban areas right we see that in urban areas the sector comprises of small scale workers casual workers which is why we need to make sure that in this case all the small scale Industries need support of the government for getting the raw material and we also see that in this particular case the labor laws right we need to make sure that the labor laws are implemented but if the company does not give overtime can it be said that it is an unorganized sector no you cannot say that because if overtime is not ideally overtime as a policy but if overtime is not paid out as money they will give as they will be followed right or they will be given as compensatory offs so we see that that is also something that we observe laws are there in Constitution why are they not followed exactly our Point laws must be implemented we are not saying make law we are saying implement the law because even the law is there in the Constitution they are not following it right so that is what we are trying to highlight here right that implementation should be clear yes okay so now if you get a five mark question you need to write minimum Five Points right five important points must be written Amal okay so with the students quick question which among the following statements are true regarding the organ unorganized sector it includes a large number of people who are employed on their own employment is not secure people can be asked to leave without any reason or is it all of the above right yes just give me one minute okay very good all of you very good the correct answer is all of the above because in an unorganized sector we know that large number of people are employed on their own where it's not secure and we know that they can be employed at no time right what about security there is no security for an unorganized sector yes ma'am PFC in simple words I'm not going to complicate it right in simple words I'll tell you that PF is Provident fund which is a select or a specific amount of money that gets deducted right it is issued by the government that this much amount of money should get deducted in the salary so that later on as a pension you I mean later on much later you can utilize that money yes so that is what is Provident fund employed on their own you could say if I'm a vendor I'm employed on my own right so an organized sector is employed on their own right ma'am can people working in an organized sector file a complaint against the employer for ill treatment they can right but normally we see that the there is a long pathway see to if a daily wage worker claims that you know see again that is where you have the authority and the fact that you don't have enough Authority even though the laborers complain firstly many daily wage laborers don't even know that they have labor laws and protection against them so many of them are not aware even if they go and complain against their employer there are times when these guys would say that that never happened and they may you know maybe use their power and authority which is why that is where your implementation right of your laws making sure that you make a point that you build a kind of holistic system comes into the big it comes into the picture my teaching method is very catchy this is the first time I'm hearing thank you Soulful dreamer this is the first time I'm hearing this mom in fact most mcqs it is all of the above huh yeah last but not the least is going to be sectors of economy or categorization of sectors based on ownership of assets right now assets that are there are very very easy assets are basically what do you okay how do I Define Assets Now assets that we see here no assets are basically property of salts but not land and stuff but basically what you own right so here in this case based on ownership like who owns these companies you could say we have a public sector and we have a private sector now public sector or companies or organizations which are owned by the government right while we see that private sectors are those which are privately owned if I open I shoe garments that is privately owned by me that means it's in the private sector but here we see that if it's owned by the government like your Hal your BH or bhel if you talk about Railways post office all of this comes under your public sector while your private sector is your Tata seal Reliance all of that is your private sector companies which are there right now the question that they will ask us about is why is there a public sector why can't all of us decide to own things privately and you know just chill right we'll all become entrepreneurs and we don't need a public sector per se what is the need right what is the need for having public sector yes so first and foremost when we talk about private sector organizations right there are many things for which the government has to put money right for example building roads right it's not like the private sector will build roads Bridges and all of that and even if they do they'll charge a lot of money right and of course in order to make sure that there is some amount of money which is maybe things given as a subsidized amount for agriculture all of that there are a lot of what do you say responsibilities that the government has to provide right which the private sector will not do which is why we see here that there is a need because tomorrow if we want to build Bridges roads Railways and improve our new no communication all of this has to be taken up by the government right and for that we see that it will you know it will encourage the public sector will this way what will happen we also observe that the government has to Bear all of that money right so we see that it supports Farmers by providing grains at a fair price and provide support to those poor people it will provide Health Care Facilities education in backward societies and it will deal with problems especially like malnutrition so on and so forth right which is why we see that public sector is necessary because whatever money right or whatever is government owned whatever money and amount value that gets generated there all of that directly goes into the development of the country which is why there is a need for private sector because all of the money that gets raised through the public sector gets or goes into all of this right which is why this particular topic is also going to come for three months why is there a need for public sector yes so that's why we cannot own our own exactly you want put money to go and build Road and all no and even if as a company you do it you will charge a exorbitant amount which is why this right here is going to be imported so with the students in about one and a half hours I would say we have covered it well right the whole chapter is done assets owned by both private and public if their own both private and public there would be distribution of the assets this must percentage Yeah this much percentage here and whatever money comes when the you know that percentage of which is publicly owned that will go into you know your day-to-day thing right yes ma'am does unorganized sector and does unorganized sector under organize your PF like reality where it's only contributed wherein it's only contributed by the worker organized may you have PF so I get PF right so from my salary my PF gets deducted and it goes into my PF account right month on month they will detect my PF account yes so that is very very important to understand ma'am what is the need for such structures sectors which are owned by both that's why your share market and everything comes in Europe and hearing about it right so some privately owned ones which go IPO you would have heard about all of that so you require that right to keep it stable yes theory of consumer Behavior we will do that later but now right very important to understand what we have covered so far is that we've learned about the fact that sectors of Indian economy as nature of production nature of employment ownership of Assets Now based on that we know that based on own nature of production we have primary secondary tertiary that all contributes towards GDP we learned about the contribution of each sector how what is the percentage of employment nature of employment maybe learned about organized and unorganized and in ownership of assets we learned about public and private right so with the students we come to the end now in the end I told you there are important previous year questions from this chapter so students take a screenshot this right here is very very important right this is super important because these are commonly asked questions they will not ask you directly see they'll ask things like tertiary sector is different from the other sector justify the statement with suitable arguments basically are asking you why is the tertiary structure growing over a period of time when compared to your primary and secondary similarly workers are exploited in unorganized sector explain with examples so you have to talk about the disadvantages or the benefits that are not there with unorganized right so this right here is going to be very very important for all of you to do so pyqs is something we will practice in great detail but these are some questions you can expect in your upcoming exams so you have the homework question which is a pyq why does disguised unemployment not help to enhance productivity of a comp of the country two marks for this particular question let me know in the comments of this video right I hope all of you learned a lot in this particular class I try to make it as crisp as possible because see although the chapter is very easy all of you here have a lot of important questions which I cannot leave unaddressed and many of you watching this video much after the live stream would also note right that these would be some questions that pop up in your mind which is why here and we take your preparation very very seriously for your board exams yes which is why please make sure you hit the like button on this video do not forget to hit the Subscribe button on the channel and share this video as much as you can with all of your friends I will be providing the PDF right after this session in the telegram channel so quickly go ahead and hit join our telegram Channel wherein the link is available consumer rights is not there for board exam but it can be asked for project work so again it's not like you can discount that chapter so if all of you students if you found this chapter very helpful if you found my explanation helpful let me know in the comments of this video thank you so much for being a part of today's class and being with me till the very end thank you so much students see you all very soon but up until then take care lots of love and lots and lots of love to you and bye bye