Conservatism is a way of thinking that seeks to preserve the traditional institutions of power such as monarchy, aristocracy, church and

family.
Conservatism arose as a political ideology after the defeat of Napoleon in 1815. The Treaty of Vienna, which was signed after Napoleons
defeat, sought to establish the old monarchial regimes in the countries captured by Napoleon. Conservative regimes were autocratic and
opposed to the ideas of liberty and equality.
Question 20 ( 3.0 marks)
What is the role of banks in propelling the growth of a nations economy?
Banks are vital organs of a nations economic system. They provide a safe platform for depositing money and also provide interest on the
money deposited by their depositors. This helps increase the financial stability of their customers. Banks also play an important role in
maintaining the liquidity of money. They provide loans to those in need and charge interest on the loan provided. This results in generation of
capital and in turn facilitates the growth of economy.
Question 21 ( 3.0 marks)
What are the major iron-producing regions of India?
India is rich in iron resources. Iron is the backbone of Indias industrial growth. The major iron ore regions in India are as follows:
(i) OrissaJharkhand: Iron is in abundance in the mines located in this region. Some of the important mines include Badampahar, Mayurbhanj
and Keonjhar in Orissa and Singhbhum in Jharkhand.
(ii) ChhattisgarhMaharashtra: The major iron mines in this region include Bailadila and Chandrapur.
(iii) Karnataka: Kudremukh mine is one of the largest iron ore mines in the world.
Question 22 (3.0 marks)
What criteria should be met by a political party in order to be recognized as a national party in India?
National parties are those political parties that have their presence all over India. The Election Commission of India has set some criteria that
have to be fulfilled by a political party before it can be recognized as a national party. A party should win at least 6% of the total votes in Lok
Sabha or state assembly elections in at least four states and win at least four seats in Lok Sabha to be recognized as a national party. There are
six national parties in India. They are BJP, Congress, CPI, CPI (M), BSP and NCP.
Question 23 (3.0 marks)
What were the main features of the Vietnamese economy under the French rule?
The main features of Vietnams economy under the French rule were as follows:
(i) Economy was based on rice cultivation and rubber plantations owned by the French.
(ii) Economy was largely rural.
(iii) Export of rice and rubber garnered huge profits for the French.
(iv) The general population of Vietnam was poor. The standard of living further declined under the French rule.
Question 24 (3.0 marks)
Why is formal sector credit preferred over informal sector credit?
Formal sector credit refers to loans taken from banks and other financial institutions, whereas informal sector credit refers to the loans taken
from private individuals such as moneylenders, landlords etc. Formal sector credit is preferred over informal sector credit because the loans
taken from the formal sector have low rates of interest and fixed terms and conditions. Informal sector credit functions on the whims and
fancies of the moneylenders who charge exorbitant rates of interest from the poor and illiterate farmers.