Economics Chapter 1 Development Source Based Questions

Economics Chapter 1 Development Source Based Questions shed light on the economic growth and progress of nations. These questions often revolve around the factors that contribute to or hinder development, such as access to education, healthcare, infrastructure, and technology. They explore the impact of government policies, foreign aid, and trade on economic development. Economics Chapter 1 Development Source Based Questions also analyze the role of institutions, governance, and income inequality in shaping development outcomes. By examining empirical data, statistical indicators, and case studies, economists can unravel the complex dynamics of development, providing valuable insights into the strategies and policies necessary for sustainable and inclusive growth in economies around the world. So let’s begin Economics Chapter 1 Development Source Based Questions.

Economics Chapter 1 Development Source Based Questions

Besides seeking more income, one way or the other, people also seek things like equal treatment, freedom, security, and respect of others. They resent discrimination. All these are important goals. In fact, in some cases, these may be more important than more income or more consumption because material goods are not all that you need to live. Money, or material things that one can buy with it, is one factor on which our life depends. But the quality of our life also depends on non-material things mentioned above. If it is not obvious to you, then just think of the role of your friends in your life. You may desire their friendship. Similarly, there are many things that are not easily measured but they mean a lot to our lives. It is true that if women are engaged in paid work, their dignity in the household and society increases.

Read the above passage and answer the following questions:

1. What are material and non-material goods?                    1.

Ans) Material commodities are physical, observable items like real estate, construction projects, furniture, pens, and the like.

However, non-material products can encompass a variety of invisible and intangible services.

2. Mention any two factors on which quality of life depends other than money?      1.

Ans) The factors on which quality of life depends other than money are”

i)  the presence of friends, family, and relatives

ii) a good atmosphere, Knowledge, safety and security, Respect and dignity.

3. Do you agree that “if women are engaged in paid work, their dignity in the household and society increases.”           2.

Ans) Yes, I agree that that “if women are engaged in paid work, their dignity in the household and society increases.”

Women’s status in the home and society rises if they work for a living.

However, it is also true that more housework would be shared and more women would be accepted of outside employment if there was respect for

women.

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Economics Chapter 1 Development Source Based Questions

For comparing countries, their income is considered to be one of the most important attributes. Countries with higher income are more developed than others with less income. This is based on the understanding that more income means more of all things that human beings need. Whatever people like, and should have, they will be able to get with greater income. So, greater income itself is considered to be one important goal. Now, what is the income of a country? Intuitively, the income of the country is the income of all the residents of the country. This gives us the total income of the country.

However, for comparison between countries, total income is not such an useful measure. Since, countries have different populations, comparing total income will not tell us what an average person is likely to earn. Are people in one country better off than others in a different country? Hence, we compare the average income which is the total income of the country divided by its total population. The average income is also called per capita income. In World Development Reports, brought out by the World Bank, this criterion is used in classifying countries.

Countries with per capita income of US$ 12616 per annum and above in 2012, are called rich countries and those with per capita income of US$ 1035 or less are called low-income countries. India comes in the category of low middle income countries because its per capita income in 2012 was just US$1530 per annum. The rich countries, excluding countries of Middle East and certain other small countries, are generally called developed countries.

Read the above passage and answer the following questions:

1. Do you think that “Countries with higher income are more developed than others with less income.”          1.

Ans) Yes, to some extent I agree with this statement. It is because more income means more of all things that human beings need. Whatever people like, and should have, they will be able to get with greater income.

2. What is the criterion used by the world bank in classifying the countries?             1.

Ans) The average income is also called per capita income is the criterion used by the world bank in classifying the countries.

3. Why are the middle-east countries excluded from the list of developed countries?                      2.

Ans) The Middle East nations are not counted among the developed nations despite having high GNI per capita.

This is because before classifying nations as developed, the World Bank also takes into account other elements including human development, Sex ratio,

Literacy, infrastructure, and economic diversity.

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Economics Chapter 1 Development Source Based Questions

Money in your pocket cannot buy all the goods and services that you may need to live well. So, income by itself is not a completely adequate indicator of material goods and services that citizens are able to use. For example, normally, your money cannot buy you a pollution-free environment or ensure that you get unadulterated medicines, unless you can afford to shift to a community that already has all these things. Money may also not be able to protect you from infectious diseases, unless the whole of your community takes preventive steps.

The problem does not end with Infant Mortality Rate. in Bihar are not attending school beyond Class 8. This means that if you went to school in Bihar more than two-thirds of your class would be missing. Those who could have been in school are not there! If this had happened to you, you would not be able to read what you are reading now. Actually for many of the important things in life the best way, also the cheapest way, is to provide these goods and services collectively. Just think will it be cheaper to have collective security for the whole locality or for each house to have its own security man? What if no one, other than you, in your village or locality is interested in studying? Would you be able to study? Not unless your parents could afford to send you to some private school elsewhere.

Read the above passage and answer the following questions:

1. What is Infant Mortality Rate?          1.

Ans) The number of newborn deaths for every 1,000 live births is known as the infant mortality rate. The infant mortality rate is a significant indicator of the general health of a society in addition to providing us with valuable information on maternal and baby health.

2. Why do you think that in Bihar the Net Attendance Ratio is very poor?                    1.

Ans) Bihar has very poor Net Attendance Ratio because of the following reasons:

i) Poverty

ii) Lack of quality education in government schools.

3. Mention any two things what money in your pocket cannot buy?               2.

Ans) Two things what money in my pocket cannot buy are:

i) pollution-free environment

ii) Good health (protection from infectious diseases)

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Conclusion:

Economics Chapter 1 Development Source Based Questions are important for a number of reasons. First and foremost, they enable us to confirm the accuracy and legitimacy of information. We can evaluate the source’s knowledge, any potential biases, and general credibility by challenging it. Second, Economics Chapter 1 Development Source Based Questions promote critical thinking and a more thorough comprehension of the material. We can find informational gaps, discrepancies, or opposing points of view by analyzing the source. Last but not least, Economics Chapter 1 Development Source Based Questions support ethical research practices and academic integrity. They support proper citations, avoiding plagiarism, and acknowledging others’ contributions.

In conclusion, Economics Chapter 1 Development Source Based Questions are crucial in ensuring that information is gathered and analyzed in a way that is accurate, comprehensive, and ethical.

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