Economics - Mr. Shailendra Singh Rawat

Chapter 1 - Development

Developed economics: These are those economic which are characterized by high level of per capita income and high standard of living. Developing Economic: Those economics which are passing through the stages of growth and development. In such economics significance of agriculture tends to decline whereas the industrial sector grows sharply.

Economy: It is a sum total of all the economic activities like production, consumption distribution, exchange etc. National income: It is the total value of all the goods and services produced within a country plus the net income from abroad during a year. Underdeveloped economics: Under developed economics are the economics which are characterized by low level of per capita income and miserable standard of living. Literacy Rate: Literacy rate measures the proportion of literate population in the 7 and above age group.

Public Distribution System (PDS) or Ration Shops: PDS ensures availability of essential commodities like wheat, rice, sugar etc. to the consumers through the network of outlets or fair price shops. It checks the forces of supply and demand. The prices are fixed by the government. Sustainable Economic Development: It means that development should take place without damaging the environment, and development in the present should not compromise with the needs of the future generations.

Q .1 . What is infant Mortality Rate?

Ans. It indicates the number of children that die before the age of one year as a proportion of 1000 live children born in that particular year.

Q . 2.Mention any four characteristics of development?

Ans.

1. Different people have different development goals.
2. What may be development for one may not be development for the other. It may be destructive for other.
3. Income is the most important component of development, but along with income, people also seek equal treatment, good health, peace, literacy, etc.
4. For development, people look at mix goals.

Q . 3.What is national development? What are the aspects covered under the national development?

Ans.

1. Under national development, the government decides what would be a fair and just path for all.
2. Under national development, only those programmes and policies are implemented which would benefit a large number of people.
3. Under national development, it is very important to decide about the conflicts and their solutions.
4. Under national development, we have to think whether there is a better way of doing things.

Q . 3.What contributes to the human development?

Ans.There are many economic as well as non-economic factors which contribute to the human development.

1. Living a long and health life.
2. To have education, information and knowledge.
3. Enjoying a decent standard of living.
4. Enjoying basic fundamental rights like freedom, security, education etc.
5. To have equality and enjoyment of human rights.