# Revision Sheet – Economics (Class 9)
## Chapter 1: The Story of Palampur
* Palampur: Hypothetical village in western UP, \~450 families.
* Main occupation: Farming (75% depend on it).
* **Organisation of Production**: Land, Labour, Physical Capital, Human Capital.
* **Farming**:
* Land fixed since 1960.
* Multiple cropping + modern farming (HYV seeds, fertilisers, pesticides, irrigation, tractors).
* Main crops: Wheat, rice, sugarcane, potatoes.
* **Land distribution**:
* Large farmers >10 hectares.
* Small farmers <2 hectares.
* Many landless (mainly Dalits).
* **Labour**: Small farmers use family labour, large hire labourers (low wages, seasonal).
* **Capital**:
* Large use own savings.
* Small borrow → debt trap.
* Overuse of chemicals & water → environmental issues.
* **Non-farming activities**: Dairy, small industries, shops, transport (limited).
* **Key Idea**: Land limited, modern farming raises output but needs more capital and creates inequality. Diversification to non-farm work is essential.
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## Chapter 2: People as Resource
* **People as Resource**: Population = asset when educated, skilled, healthy → Human Capital.
* **Human Capital Formation**: Education + Health = productivity & income. Example: Japan.
* **Story of Sakal & Vilas**:
* Sakal: Educated, healthy, got job, prosperous.
* Vilas: No education, poor health, odd jobs, poverty.
* **Economic Activities**:
* Primary: Farming, fishing, forestry, mining.
* Secondary: Manufacturing, construction.
* Tertiary: Trade, transport, banking, education, healthcare.
* Market (for profit) vs Non-market (self-use).
* **Quality of Population**:
* Education: Literacy up from 18% (1951) to 74% (2011). Govt schemes: SSA, Mid-Day Meal, RMSA.
* Health: Life expectancy 69+, infant mortality reduced. Problems remain (malnutrition, weak infrastructure).
* **Unemployment**:
* Seasonal (farm work only certain months).
* Disguised (extra workers not needed).
* Educated (qualified but no jobs).
* Rural: seasonal & disguised; Urban: educated unemployment.
* **Effects**: Wastage of resources, low standard of living, poverty, frustration.
* **Key Idea**: Investment in education & health converts population into productive human capital → drives economic growth.
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