Development | Revision Notes | CBSE | Chapter 1 | Economics | Class 10
- Promises of Development : Development promises different goals for different people. What may be development for one may not be development for the other.
- Development : Development means development in the economic, social, political and administrative spheres in the country.
- Economic Development : Economic Development is a process whereby the real per capita income of an economy increases over a long period of time.
- National Income : The sum total of all the goods and services produced within a country during a period of one year plus net income from abroad is called national income.
- Per Capita Income : The total national income divided by the total population is called per capital income.
- Economic Decision Making : Activity of making choices in different situations is called an economic decision making.
- Sustainable Development : Sustainable development means that the development in present should not compromise on the needs of the future generation and it should take place without damaging the environment.
- Infant Mortality Rate : This indicates the numbers of children that die before the age of one year as a proportion of 1000 live children born in that particular year.
- Literacy Rate : This is the measures of proportion of literate population in the 7 and above age group.
- Net Attendence Ratio : This is the total number of children of age group 6-10 attending school as a percentage of total number of children in the same age group.
- Renewable Resources : Renewable resources are those which can be replenished by nature as in the case of crops and plants.
- Non-renewable Resources : Non-renewable resources are those which will get exhausted after years of uses, in this case we have a fixed stock on earth which can not be replenished.
- Human Development Index : It measures the average achievements in basic three dimensions of human development i.e. long and healthy life, knowledge and decent standard of living.
- Longevity : A long and healthy life as measured in terms of life expectancy years.
- How do compare different countries or states : Different countries or states can be compared on the basis of their income or per capita income infant mortality ratio, literacy rate, net attendence ratio etc.
- Average Income : It is a per capita income. Average are useful for comparison of different countries or states, they also hide disparities.
- Public Facilities : Public Facilities are more important for development than increase in per capita income. For example, the average person in Punjab has more income than the average person in Kerala but lags behind in public facilities.
- Human Development Report : It is published by UNDP which compares countries based on the educational levels of the people, their health status and per capita income.
