Here's a concise note covering key topics in Class 10th economics:
1. *Introduction to Economics*:
- Economics is the study of how individuals, households, businesses, and governments allocate resources to satisfy their needs and wants.
- It is divided into two main branches: microeconom...
➢ The betterment of anything is called development. It promise different people, different
goals.
What development promises
Different people may have different goals .
What may be development for one may not be development for the other. It may even be
destructive or creative for the other.
Income and Other Goals
Two types of Goals.
i) Materialistic goals = That can be brought by money. Example - Home, Car clothes fridge etc.
ⅱ) Non-Materialistic goals = That can't be bought by money. Example - Equality. Freedom, Love
Respect etc.
• Money is not enough for development infact for proper development people wok at on both
materialistic goals as well as non-materialistic goals.
• Money in your packet cannot buy all the goods and services that you may need to live well.
National Development
➢ Different people could have different notions towards national development as well as
conflicting
➢ The ability of the country to improve the living Standards of its citizens is called national
development.
How to Compare different countries or states?
,• More the income more the development
• Par Capita Income (Average Income)
• The average income earned per person in a specified year.
• Total Income = Par Capita Income
Total Population
• World Development Report (2017).
• Countries with per capita income of US $ 12056 per annum and above are called rich
countries.
• Countries with per capita income of US $ 355 less are called poor countries.
• Per capita Income of India is US $ 1820 per annum.
• India comes in the category of low middle income.
• The rich countries are generally called developed Countries (except countries of Middle East
and certain other small countries).
Income and Other Criteria
➢ Infant Mortality Rate = It indicate the number of children that die before the age of 1 you as
proportional of thousand live children born in that particular year.
➢ Literacy Rate = The proportion of literate population In the age group of 7 and above .
➢ Net Attendance Ratio = The total number of children of age group 14 and 15 years attending
school as a percentage of total children in the same age group.
➢ FOR EXAMPLE ;-
STATE PER CAPITA INFANT LITERACY NET
INCOME MORTALITY RATE ATTENDENCE
RATE RATIO
Haryana 1,80,174 30 82 61
Kerala 1,63,475 10 94 83
Bihar 34,409 35 62 43
Public Facilities = Public Facilities are these basic facilities which are provided to all citizens
by the government for their well being and overall development.
Body Mass Index (BMI) = Body mass Index is the criteria which used to find out whether a
person is nourished, under nourished, or overweighted..
How to find mass Index?
• Formula = Weight (kg)
Height (m)^
• Less than 185 = Undernourished
• More than 25 = Over weighted
• Betwen18-25 = Nourished
, United Nation Development Programme
BY
Human Development Report
➢ Comparing countries board an income, education and health
Sustainability of Development = It involves finding ways for continuous development
without the risk of running out of resources or causing damage to environment.
Sustainability of development would involve more efficient use of our existing resources,
finding fresh reserves of resource.
HUMAN DEVELOPMENT INDEX (HDI)
Country Gross Life Mean year HDI Rank
National expectancy of in the
Income of birth schooling world
(GNI) Per of people (2018)
Capita aged 25
Income and above
(2011 PPP
$)
Sri Lanka 12,707 77 10.6 73
India 6,681 69.7 6.5 130
Myanmar 4,961 67.3 5.0 148
Pakistan 5,005 67.3 5.2 154
Nepal 3,457 70.8 5.0 143
Bangladesh 4,976 72.6 6.2 134
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