Chapter 3

NCERT
Class 10
Economics
Solutions
1. Fill the following table : Why did they need credit?

Question:

Fill the following table :

Salim Swapna
Why did they need credit?
What was the risk?
What was the outcome?

Answer:

Salim Swapna
Why did they need credit? To procure raw material and meet other expenses To meet the expenses of farming.
What was the risk? If he did not provide the shoes within a month, the order received by him would be considered
terminated.
The crop could have been ruined.
What was the outcome? He made a good profit by supplying 3,000 pairs of shoes on time. Due to the failure of the crop, Swapna got trapped in the debt trap due to not being able to repay the loan on time. He had to sell a part of his land to pay off the loan.

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