Unit-7 Our Economic Activities
7) Why do we deposit money in banks?
Give any two reasons. We deposit money in a bank to create savings and earn interest on it. A demand deposit is made for funds you can withdraw anytime. A time deposit is a long-term investment.
7) What is the tourism industry?
The tourist industry is a service-oriented industry that provides tourism-related services like lodging, flooding, etc. by establishing modern restaurants, guest houses, lodges, hotels, etc.
7) What is foreign employment?
The employment opportunity which was accessed by the people of one country in another country (foreign) for earning their living can be defined as foreign employment.
7) What is meant by woman empowerment?
Women’s empowerment can be defined as promoting women’s sense of self-worth, their ability to determine their own choices, and their right to influence social change for themselves and others.
7) Which symbols are used to represent lake and bridge in a map?
A pond a symbol is used to represent a lake on a map and a straight line with the bent curve is used to represent a bridge
What is the active population?
Active population is the group of the population that is economically active and can be involved in any income-generating activity
What is meant by capital?
Capital is a broad term that can describe anything that confers value or benefit to its owners, such as a factory and its machinery, intellectual property like patents, or the financial assets of a business or an individual.
Which is the first bank of Nepal? when was it established?
Nepal Bank Limited, The first bank of Nepal was established on November 15, 1937 A.D
What is the main cause of Nepal’s trade deficit?
The major causes of Nepal’s increasing trade deficit are landlockedness, low export and high import, low-quality goods, improper trade policy, higher cost of production, lack of publicity and advertisement, low production, slow industrial development, lack of trade diversification, etc.
It is good or bad to go foreign country for employment?
Mention your view Such industries provide job opportunities in the country. People who went overseas to work can learn different skills and technologies which can be beneficial for the development of our own country. Foreign employment reduces the unemployment problem of a country.
What is meant by black marketing?
The black market is any market where the exchange of goods and services takes place to facilitate the transaction of illegal goods or to avoid government oversight and taxes, or both.
How is the price of goods determined?
Write any one process of it. The price of a product is determined by the law of supply and demand. Consumers have a desire to acquire a product, and producers manufacture a supply to meet this demand. The equilibrium market price of a good is the price at which quantity supplied equals quantity demanded.
What is an active population? Write its age group.
The active population is the group of the population that is economically active and can be involved in any income-generating activity. In general, the population of age group 15-59 is considered economically active. But it does not mean that all the people in this age group are economically active.
Write anyone measure to minimize the deficit in foreign trade. They are: ● Enhance industrial bases.
● Promote export-oriented goods.
● Give appropriate incentives to exports.
● Improve the quality of goods. Adopt proper trade policies.
● Enhance training and skills
Give an introduction to the development bank.
A development financial institution, also known as a development bank or development finance company, is a financial institution that provides risk capital for economic development projects on a non-commercial basis.
Write any 2 advantages of comparative.
● Limited Liability,
● Service Motive,
● Democratic Management,
● Low Cost of Operations,
● Internal Financing,
● Income Tax Exemption.
7.)Write down any two advantages of cooperative
Ans:- Any two advantages of cooperative are:-
a.) There are equal voting rights for members.
b.) Liability for members is limited.
7.) What is currency?
Ans:- At present, money is being generally accepted or in use, which is known as currency.
Set 18 and 25
7.) Write the full form of ‘ATM’
Ans:- The full form of ‘ATM’ is Automated Teller Machine.
7.)Write any two reasons for Nepali citizens going for foreign employment.
Ans:- Any two reasons for Nepali citizens going for foreign employment are:- a.) Limited employment opportunities
7.) What is latitude? Write in one sentence.
Ans:- Latitude is a measurement on a globe or map of location north or south of the Equator. Set 21
7.) Write down any two goods exported from Nepal.
Ans:- Any two goods exported from Nepal are:-
7.) Write a difference between internal and external trade.
Ans:- Difference between internal and external trade are:-
a.) The trading that takes place within the country is called internal trade. b.) There is only one form of currency that is used for internal trading. External trade:-
a.)The trading of goods and services with other countries in the international market is called external trade.
b.) There are different forms of currencies which are used in external trading. . set 23
7.) What is meant by the tourism industry?
Ans:- The tourism industry is the total of all businesses that directly provide goods or services to facilitate business, pleasure, and leisure activities away from the home environment.
7.) What do you mean by foreign trade?
Ans:- Foreign trade is the mutual exchange of services or goods between international regions and borders.
7.) Write any two importances of the tourism industry.
Ans:- Any two importances of the tourism industry are:-
a.) Create employment opportunities.
b.) Development of small and cottage industries.
7.) Differentiate between domestic and external trade in a sentence.
Ans:- Domestic trade can never involve more than one country, but international trade always involves two or more countries. Domestic trade, to a large extent, involves the use of mainly local currency in trading, whereas international trade involves the use of foreign currency.
7)Write the full form of ATM.
The full form of ATM is an automated tailor machine
7)why do tourists come to Nepal? write any 2 reasons
The 2 reasons are
1)Nepal is the best destination for adventures activities like bungee jump, paragliding, etc. 2)They visit Nepal to learn the culture
7)What is currency?
=It is defined as a system of money in general use in a particular country. set 31
7) Define a bank.
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans.
7)Write any 2 advantages of foreign trade.
1) Increased revenues.
7)Write any 2 ways that can end corruption.
a) Expose corrupt activities and risks that may otherwise remain hidden.
b) Keep the public sector honest, transparent, and accountable.
7 )Write any one of the electronic banking systems prevalent in Nepal.
ATM- Automatic Teller machine :
Used for the cash withdrawal from ATM-Booth and transfer of the money from one account to another.
Debit/Credit Card :
Used for the transaction of money in POS, ATM, etc.
7) Write any two advantages of co-operatives
a)there are equal voting rights for members.
b)this structure encourages member contribution and shared responsibility.
7)Mention 2 advantages of tourism in Nepal.
- Source of Foreign Exchange Earnings
- )Exchange of Art
7)What is the main cause for Nepalese to go for foreign employment?
The reasons behind migration are almost the same in Nepal as in other parts of the world. Poverty, limited employment opportunities, deteriorating agricultural productivity, and armed conflict are some of the motives behind international labor migration.
7)What is the full form of WTO?
The full form of WTO is World Trade Organization.
7) What is meant by unemployment?
= The term unemployment refers to a situation when a person who is actively searching for employment is unable to find work.
Set-114. What is a bank? Describe any four functions of a bank.
● A bank is a place where a financial institution accepts deposits from the public and creates a demand deposit while simultaneously making loans ● Any four functions of a bank are:
● Accepting deposits
● Granting loans
● Discounting of bills
● undertaking safe custody of valuables
List out any six importance of the tourism industry in Nepal.
Any six importance of tourism industry in Nepal are:
● Foreign currencies are very important for the country and tourism is the main source of foreign currency in Nepal
● Tourism helps to develop the physical infrastructure of the nation to provide proper accommodation
● It increases the PMI rate of Nepal
● Source of Foreign Exchange Earnings
● Boosts the revenue of the economy
● Creates job opportunities
Make a list of main goods Nepal exports and imports
Exporting is sending goods from one country to the other. Here, Nepal mainly exports goods such as carpets, beverages, textiles, tea, plastic bags e.t.c.Its main export partners include India, the US, Bangladesh, and Germany. Nepal mainly imports fuel, apparel, gold, iron and steel, machinery, and equipment.
Nepal also imports many goods as Nepal mainly imports oil, gold, iron and steel, clothes, pharmaceutical products, cement, electronic appliances, food, and vehicles.
What is the importance of currency in our daily life?
● Currency is often defined in terms of the three functions or services that it provides. Money serves as a medium of exchange, as a store of value, and as a unit of account. Medium of exchange. Currency plays an important role in one’s life like at people’s jobs, and even in education. Currency’s most important function is as a medium of exchange to facilitate transactions
Mention any 4 importance of banks.
A bank is a place where a financial institution accepts deposits from the public and creates a demand deposit while simultaneously making loans
The 4 most important banking services
● checking and savings accounts
● loan and mortgage services
● providing Credit and Debit Cards
● Overdraft services.
What is the present state of employment in Nepal?
Nepal has secured the top spot in job creation in South Asia, with the employment rate hovering around 68 percent, says the latest World Bank report. This means 32
percent of the country’s working-age population —people aged 15 to 64—is either unemployed or voluntarily inactive—the lowest in South Asia.17
Challenges in Nepal are attributed to the predominance of employment in the informal segments of the Nepali economy with low productivity and earnings, and poor working conditions, resulting in underemployment in the country
How is the price of goods determined in the market? Write with an example.
● The price of a product is determined by the law of supply and demand. Consumers have a desire to acquire a product, and producers manufacture a supply to meet this demand. The equilibrium market price of a good is the price at which quantity supplied equals quantity demanded.
What is the price hike? How does price hikes affect our daily life?
A price hike means the rise of the price of daily necessaries When the cost of something becomes far more expensive than its original price is known as a price hike.
It affects our daily life as Low, medium, and high rates of price hikes attract the daily attention of households and decision-makers differently.
Prepare a dialogue between two friends highlighting the importance of co-operative. First Friend – Hey! Friend, What are you up to?
Second Friend – Exam Stress …
First Friend – (Laugh) How much?
Second Friend – Still left with one Chapter!
First Friend – Can I help You?
Second Friend – Yes, Please Tell me the importance of Cooperatives? First Friend – Ok, Note down
1. It helps to eliminate the role of money lenders as a source of Credit. 2. It provides easy and adequate credit to the farmers.
Second Friend – I am just lacking one more point.
First Friend – Yes sure! Write that Cooperatives help to expand the flow of credit in rural areas.
Second Friend – Thank You!
How and when was NAM established?
NAM(Non-Aligned Movement) was established in 1961 Belgrade, Yugoslavia 1 September 1961 as the Conference of Heads of State or Government of Non-Aligned Countries. It was created and founded during the collapse of the colonial system and
the independence struggles of the peoples of Africa, Asia, Latin America, and other regions of the world and at the height of the Cold War
In what ways is the price of a commodity determined in the market? Write.
As with equity securities, a commodity’s price is determined primarily by the forces of supply and demand for the commodity in the market. If the weather in a certain region is going to affect the supply of a commodity, the price of that commodity will be affected directly.
14. Unemployment problems increasing day by day n Nepal. Mention its causes and solutions. Cases of unemployment in neal are:
● Lack of job opportunities
● Political instability
● Lack of
Some solutions to solve unemployment problems in Nepal are:
● i) Change in industrial technique:
● (ii) Policy regarding seasonal unemployment:
● (iii) Change in the education system:
● (iv) Expansion of Employment exchanges:
● (v) More assistance to self-employed people
14. What is cooperative? Write any four importance of a cooperative.
Involving mutual assistance in working towards a common goal is called cooperative. Importance of cooperative are:
Set 24, Set 29, Set 31
14. what is tourism? Write five importance of tourism industry in Nepal.
Tourism comprises the activities of persons traveling to and staying in places outside their usual environment for not more than one consecutive year (12 months) for leisure, business, or other purposes. The importance of tourism n Nepal are:
● Source of Foreign Exchange
● Increase Jobs
● The base of Cottage Industries
● Exchange of culture and concept
● Increase in government revenue
14. what is foreign trade? Differentiate between internal and external trade.
Foreign trade is the mutual exchange of services or goods between international regions and borders. Differences between internal and eternal trade are:
● Internal trade is the trade that involves buying and selling taking place between two parties that are located within the political and geographical boundaries of a country.
● Internal trade has fewer restrictions.
● External trade is referred to a trade that involves buying and selling of goods between two parties located in different countries or between two different countries.
● External is subjected to many restrictions as it is because two countries, which involve different laws.
14. write any three problems with foreign trade in Nepal and mention its three solutions measures. Some problems of foreign trade in Nepal are:
● Low-quality goods
● Improper trade policy
● High-cost production
Some solutions of them are:
● Making higher quality goods
● Improving trading policies
● Trying to lower-cost production of products
Write any three causes of price hiking in the market and mention any three ways to control it. Some causes of price hiking are:
● Public expenditure increase
● Population growth
14. What is meant by black marketing? Mention any four steps to be carried out to control it.
the black market is any market where the exchange of goods and services takes place to facilitate the transaction of illegal goods or to avoid government oversight and taxes, or both. four ways organizations can prevent PII from becoming black market public record
1. Equip systems with strong user authentication passwords. …
2. Take ownership of encryption keys. …
3. Ensure proper use-policies for dated applications. …
4. Provide employee training on cybersecurity best practices.
14. Write the organs of the UNO and describe briefly two f them.
The United Nations (UN) has six main organs. Five of them — the General Assembly, the Security Council, the Economic and Social Council, the Trusteeship Council and the
Secretariat — are based at UN Headquarters in New York. The sixth, the International Court of Justice, is located at The Hague in the Netherlands.
The general assemble
The UN General Assembly (UNGA) is the main policy-making organ of the Organization. Comprising all Member States, it provides a unique forum for multilateral discussion of the full spectrum of international issues covered by the Charter of the United Nations. Each of the 193 Member States of the United Nations has an equal vote.
The UNGA also makes key decisions for the UN, including:
● appointing the Secretary-General on the recommendation of the Security Council ● electing the non-permanent members of the Security Council
● approving the UN budget
The international court of justice
The International Court of Justice (ICJ) is the principal judicial organ of the United Nations (UN). It was established in June 1945 by the Charter of the United Nations and began work in April 1946.
The seat of the Court is at the Peace Palace in The Hague (Netherlands). Of the six principal organs of the United Nations, it is the only one not located in New York (United States of America).
The Court’s role is to settle, by international law, legal disputes submitted to it by States and to give advisory opinions on legal questions referred to it by authorized United Nations organs and specialized agencies.
The Court is composed of 15 judges, who are elected for terms of office of nine years by the United Nations General Assembly and the Security Council. It is assisted by a Registry, its administrative organ. Its official languages are English and French.
14) What are the objectives of the tourist who come to visit Nepal?
The act of visiting different places with objectives of fun, research, relaxation, or vacation, is known as traveling and people who practice those things are known as tourists. The main objective of the tourist who comes to visit Nepal is to observe the cultural influence or for adventurous activities and so on.
14) What is social harmony?
Write the methods of developing social harmony in society. Social harmony can simply be defined as the process of maintaining love, trust, peace, admiration, respect, and equity among people socially while respecting people’s race, surname, gender, ethnicity, and religion. The method for developing social harmony in a society can be:- Avoiding conflicts Being respectful Trusting, admiring, and loving.
14) Why is the internet necessary in education? Write four advantages.
The Internet can improve the quality of education in many ways. It opens doorways to a wealth of information, knowledge, and educational resources, increasing opportunities for learning in and beyond the classroom. Any four advantages are:-
● Access to more information. …
● Bridge communication gaps. …
● Enjoy virtual field trips. …
● Assignment convenience and flexibility.
14) What do you mean by modern technology and local technology? Explain about one/one modern technology and local technology.
Modern technology is the advancement of old technology with new additions and modifications. Meanwhile, Technology that people use to assist their activities in daily life is called local technology. Local Technology and Modern technology don’t have a vast difference in them as modern technologies are just the better or modified version of local technologies.
The Internet is a vast network that connects computers all over the world. Through the Internet, people can share information and communicate from anywhere with an Internet connection.
A watermill is a structure that uses a water wheel or turbine to drive a mechanical process such as ground flour or lumber production, or metal shaping. Set 38 14) Explain the use of the internet. The Internet is a virtual networking medium that can be connected and used on various devices these days. It enables the users to send, receive, collect, store, update, delete, and many other operations of the data across the world. Some simple uses of the internet have been mentioned below:-
● For Online Booking.
● Cashless Transactions.
● Online Banking & Trading.
● Web Browsing. For Electronic Mail.
● For Job Search.
● Social Networking. For Communication.
14) Write any five ‘ codes of conduct of using the internet.
Any five ‘ codes of conduct of the internet are:-
● Offensive, rude, obscene, or harassing material is strictly forbidden. ● The aforementioned resources are not to be used for political or commercial purposes.
● Inappropriately broadcasting messages to groups or individuals is not allowed. ● Any communication which violates applicable laws and regulations is not allowed on the university’s network or internet connections.
● Ethical standards that apply to the use of computer resources are derived directly from the standards of common sense, decency, and courtesy that apply to the use of any shared resources.