Economics Lesson 1

Understanding Development Perspectives measurement and sustainability

Short Answers:

1What do you mean by development?

● Development refers to the progress in a particular field or particular person.
● Similarly, economic progress of a country is known as economic development.
● However the interpretation of the concept development keeps on changing from
time to time,from person to person. It's meaning gets extended further.

2. What are the indicators of development?

(This image is shared with the module also)

3. NNP is not considered as an usual measure to compare a country's development

with other countries. Why?
a) For comparison between development of countries, total income or the national
income is not a useful measure.
b) Since countries have different populations, comparing total income will not tell us
what an average person is likely to earn.
c) Hence we compare average income which is also called Per Capita Income.

3. Why are human resources considered the foremost resource of any country?
a) Human resources are necessary for the progress of any country.
b) Human resource refers to people who have the manpower which can be utilised
in the production sector.
c) Therefore investment in human resources (education and health ) can give
better rate of returns in the future.
d) Now the economists have realised that investment in human capital is as
important as investment in physical capital.

5. Expand the following: 1. PPP 2. HDI

1. PPP- Purchasing Power Parity.
 2. HDI-;Human Development Index.

6. Expand the following: 1. NNP 2. PCI

1. NNP- Net National Product
2.PCI- Per Capita Income
7. What is 'Solar Power'?
Solar power is the conversion of energy from sunlight into electricity either directly using
Photovoltaic cells or indirectly using concentrated solar power. Solar panels absorb the
sunlight as a source of energy to generate electricity.

Choose the correct answer

Answers​:
1. Ans (a) Both A and R are true . R explains A
2. d) collective abilities of people.
3. b) income
4. c) NNP
5. a) average
6. d) India
7. c) China
8. 8) a) Both A and R are true. R explains A
9. 9. a) Both A and R are true and R explains A
10. a) Gender
11. c) Tamil Nadu
12. d) the number of females per thousand males.
13. c): Sustainable Development
14. c) Paper
15. a) Tamil Nadu
16. c) Non- Renewable
17. d) Carbon dioxide

II ​Fill in the blanks

1. Economic Development
2. Shastri Bhavan, New Delhi
3. Kerala
4. UNDP United Nations Development Programme.
5. Renewable
6. Prof. Amartya Sen.

III ​Match the following:

1.Development - Part of daily life
2. Human resource- Education
3. Solar energy- Renewable resource
4. 1972 - Wild life Protection Act.

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