1. Distinguish between open unemployment and disguised unemployment. [3]

2. What is meant by secondary sector? Explain it by giving examples. [3]

3. Kerala, with lower per capita income has a better human development ranking than Haryana. Hence, per capita income is not a useful criterion at all and should not be used to compare states. Do you agree? Discuss. [3]

4. How far it is correct to say that the modern currency is without any use of its own as a commodity? Give reasons to support your answer?

5. Give an account of different sources of credit in rural India. [3]

6. Why developed countries want developing countries to liberalize their trade and investment? What do you think should the developing countries demand in return? [3]

7. How is stability in jobs for the workers affected due to globalization creating a requirement for good quality products and an expanding market?

8. Explain with an example how the opening up of foreign trade results in connecting the markets of different countries. . [3]

9. “I promise to pay the bearer the sum of ten Rupees”. Where is this statement written and what do you understand from this statement? [3]

10. Distinguish between the public and the private sector. [3]