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Mindmap: Lifelines of National Economy | Social Studies (SST) Class 10

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FAQs on Mindmap: Lifelines of National Economy - Social Studies (SST) Class 10

1. What are the major lifelines of a national economy?
Ans. The major lifelines of a national economy are transportation, communication, and trade networks. These lifelines ensure the smooth flow of goods, services, and information within a country, contributing to its economic development.
2. How does transportation contribute to the national economy?
Ans. Transportation plays a crucial role in the national economy by facilitating the movement of people, goods, and raw materials. It connects different regions within a country, enabling trade, tourism, and employment opportunities. Efficient transportation systems reduce costs, improve accessibility, and stimulate economic growth.
3. What is the significance of communication in the national economy?
Ans. Communication is vital for the national economy as it enables the exchange of information and ideas between individuals, businesses, and government entities. It supports efficient decision-making, coordination, and collaboration, leading to increased productivity, innovation, and economic competitiveness.
4. How does trade contribute to the national economy?
Ans. Trade is a crucial lifeline of the national economy as it involves the buying and selling of goods and services within a country and with other nations. It promotes economic growth, employment, and specialization. Trade allows countries to access resources and products they lack domestically, leading to higher standards of living and overall prosperity.
5. What are the challenges faced by the lifelines of the national economy?
Ans. The lifelines of the national economy face challenges such as inadequate infrastructure, congestion, technological advancements, and environmental concerns. Insufficient investment in transportation and communication systems can hinder economic development. Additionally, maintaining a balance between economic growth and sustainability is crucial to address environmental issues associated with transportation and trade networks.
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