Welcome to our comprehensive guide on “Economics Class 10 Chapter 1.” If you are a student gearing up to ace your economics studies or an eager learner seeking a deeper understanding of fundamental economic concepts, you’ve come to the right place.

In this article, we delve into the intricacies of Class 10 Economics Chapter 1, unlocking its valuable insights and practical applications. Economics plays a pivotal role in shaping the world around us, influencing decision-making, resource allocation, and overall societal well-being.

Join us as we demystify economic concepts, equip you with valuable knowledge, and empower you to make informed decisions in both academic and real-world scenarios. Let’s embark on this rewarding exploration of Economics Class 10 Chapter 1!

NCERT Economics Class 10 Chapter 1 Solution Explained

1. Development of a country can generally be determined by

1. its per capita income
2. its average literacy level
3. health status of its people
4. all of the above

Answer: d. all of the above

2. Which of the following neighbouring countries has better performance in terms of human development than India?

1. Bangladesh
2. Sri Lanka
3. Nepal
4. Pakistan

Answer: b. Sri Lanka

3. Assume there are four families in a country. The average per capita income of these families is Rs. 5000. If the income of three families is Rs. 4,000, Rs. 7,000 and Rs. 3,000, respectively, what is the income of the fourth family?

1. Rs. 7,500
2. Rs. 3,000
3. Rs. 2,000
4. Rs. 6,000

Answer: d. Rs. 6,000

(4000+7000+3000+x) ÷ 4 = 5000

14000+x = 5000 × 4

x = 20000-14000

x = 6000

4. What is the main criterion used by the World Bank in classifying different countries? What are the limitations of this criterion, if any?

The World Bank employs per capita income as a classification method for various countries. Per capita income is derived by dividing the total income of a country by its population. According to the World Bank, countries with a per capita income of US$955 or below for the year 2017 are classified as low-income countries.

However, this criterion has certain limitations:

1. Ignoring Key Factors: The classification solely relies on per capita income and overlooks critical indicators such as literacy rate, infant mortality rate, and healthcare facilities, which are crucial for assessing a country’s overall development and well-being.

2. Neglecting Income Inequality: The World Bank’s classification fails to consider information regarding the unequal distribution of income within a country. Inequality can significantly impact the socio-economic conditions of its citizens, influencing overall development.

3. Limited Scope: The per capita income criterion does not encompass the broader complexities of an economy and may not fully reflect a country’s development status. Economic development is influenced by numerous interconnected factors that extend beyond income levels alone.

To gain a comprehensive understanding of a country’s development, it is essential to consider a more inclusive approach that takes into account multiple indicators and factors affecting the well-being of its population.

5. In what respects is the criterion used by the UNDP for measuring development different from the one used by the World Bank?

The UNDP (United Nations Development Programme) employs a distinct criterion compared to the World Bank for country comparisons. Unlike the World Bank, which primarily uses per capita income to measure development, the UNDP takes a more comprehensive approach.

UNDP’s criterion considers three key indicators to assess development:

1. Educational Level: The educational level of the people within a country is a crucial factor in determining development. Education empowers individuals, enhances their skills, and contributes to overall human development.

2. Health Status: The health status of a population is another vital aspect of development. Factors such as life expectancy, infant mortality rate, and access to healthcare services play a significant role in assessing a country’s well-being.

3. Per Capita Income: While UNDP considers per capita income like the World Bank, it also integrates it with education and health indicators for a more holistic evaluation of development.

This approach by UNDP offers a more comprehensive and nuanced perspective on development, taking into account multiple dimensions that impact the quality of life and well-being of a country’s citizens. By considering education, health, and income together, UNDP’s criterion provides a more inclusive understanding of a country’s development status.

6. Why do we use averages? Are there any limitations to their use? Illustrate with your own examples related to development.

Calculating averages is a useful method for estimating and comparing different aspects across countries with varying populations. However, there are limitations to relying solely on averages, as they may not provide a complete picture of the income disparities within a country or state.

Let’s illustrate this with an example of two countries, A and B, each having 5 people:

In Country A, the incomes of the five individuals are Rs. 23,000, Rs. 22,000, Rs. 23,500, Rs. 28,000, and Rs. 25,000. The average income of Country A would be Rs. 24,300.

In Country B, the incomes of the five individuals are Rs. 1,50,000, Rs. 22,000, Rs. 50,000, Rs. 4,000, and Rs. 2,500. The average income of Country B would be Rs. 45,700.

While the average income of Country B appears higher than that of Country A, it doesn’t account for the significant disparity in income distribution within each country. In Country B, there seems to be a wide variation in incomes, with some individuals earning substantially higher than others. Conversely, Country A appears to have a more evenly distributed income among its population.

This example highlights that relying solely on average income figures may overlook the inequalities in income distribution within countries. To obtain a comprehensive understanding of economic conditions, it is crucial to consider additional factors, such as income distribution and the overall well-being of the population, to gain a more accurate assessment of a country’s economic situation.

7. Kerala, with lower per capita income, has a better human development ranking than Haryana. Hence, per capita income is not a useful criterion at all and should not be used to compare states. Do you agree? Discuss.

Despite having a lower per capita income, Kerala outperforms Haryana in terms of human development ranking. This indicates that per capita income alone is not a comprehensive criterion for comparing states. Kerala’s superior human development ranking can be attributed to factors like higher literacy rates, lower infant mortality rates, and better healthcare facilities compared to Haryana.

Per capita income merely calculates the average income of a state’s population without considering other crucial factors that contribute to overall development. In the case of Kerala and Haryana, the focus on per capita income alone fails to reflect the significant disparities in social indicators and human well-being.

To make accurate and meaningful comparisons between states, it is essential to consider a holistic set of indicators that encompass economic, social, and human development aspects. These include factors such as literacy rates, access to quality healthcare, education facilities, and infant mortality rates, which provide a more comprehensive picture of a state’s overall development and well-being.

8. Find out the present sources of energy that are used by the people in India. What could be the other possibilities fifty years from now?

Currently, people in India primarily rely on sources of energy such as firewood, coal, petroleum, crude oil, and natural gas. However, looking ahead to the next fifty years, there is significant potential for utilizing renewable sources like solar energy and wind energy to fulfill our diverse energy needs. Embracing these sustainable alternatives is crucial as the continued reliance on conventional energy sources could deplete precious natural resources, leaving future generations at a disadvantage. By transitioning towards renewable energy, we can ensure a greener and more sustainable future for all, preserving our planet’s resources for the well-being of generations to come.

9. Why is the issue of sustainability important for development?

Sustainable development is the responsible utilization of natural resources to meet the needs of both present and future generations. The concept of sustainability holds great significance for overall development because the careful management of natural resources ensures their availability for the well-being of future generations. Failing to use resources judiciously may lead to their depletion, hindering the progress and development of a country. Therefore, embracing sustainable practices is essential to ensure a harmonious balance between development and preservation, securing a prosperous and thriving future for all.

10. “The Earth has enough resources to meet the needs of all but not enough to satisfy the greed of even one person.” How is this statement relevant to the discussion of development? Discuss.

Development relies not solely on a country’s economic factors but also on the availability of resources for its people. The saying, “The Earth has enough resources to meet the needs of all but not enough to satisfy the greed of even one person,” is highly pertinent to a country’s development as natural resources are finite. Responsible utilization of these resources is crucial to meet present needs without compromising the needs of future generations. It is incumbent upon society to use resources wisely, prioritizing needs over greed. Failure to do so could lead to the exhaustion of resources, ultimately hampering a country’s development. Embracing sustainable practices ensures a prosperous future for all.

11. List a few examples of environmental degradation that you may have observed around you.

Numerous instances of environmental degradation are evident in our surroundings, including:

1. Vehicle emissions and excessive fuel consumption leading to pollution
2. Improper disposal of industrial waste in residential areas and water bodies
3. Deforestation activities depleting forest cover
4. Mining operations affecting natural landscapes
5. Soil erosion impacting fertile land
6. Escalating pollution contributing to global warming, glacial melting, and deteriorating atmospheric conditions.

12. For each of the items given in Table 1.6, find out which country is at the top and which is at the bottom.

According to Table 1.6, Sri Lanka secures the top position in all four categories, namely Gross National Income, Life Expectancy at birth, mean years of schooling for individuals aged 25 and above, and HDI rank worldwide. On the other hand, Nepal holds the lowest Gross National Income among the listed countries. Pakistan has the least Life Expectancy at birth and ranks the lowest in HDI rank among the given countries. Finally, Myanmar and Nepal have the lowest mean years of schooling for individuals aged 25 and above.

13. The following table shows the proportion of adults (aged 15-49 years) whose BMI is below normal (BMI <18.5 kg/m²) in India. It is based on a survey of various states for the year 2015-16. Look at the table and answer the following questions.

1. Compare the nutritional level of people in Kerala and Madhya Pradesh.
2. Can you guess why around 40 per cent of people in the country are undernourished even though it is argued that there is enough food in the country? Describe in your own words.

Ans 1. The nutritional level of people in Kerala surpasses that of people in Madhya Pradesh.

Ans 2. The argument supporting the presence of enough food in the country is based on the following reasons:

1. Disparity in PDS Distribution: The Public Distribution System (PDS) faces disparities in the distribution of food grains, leading to unequal access to food among the population.

2. Affordability of Nutritious Food: The poor population in the country may struggle to afford nutritious food, which impacts their overall food security.

3. Educational Backwardness and Unemployment: Educational backwardness and unemployment can lead to financial constraints, making it difficult for people to afford basic necessities like food.

4. Inadequate Ration Distribution: There are issues with the proper distribution of ration at fixed-price stores, hindering access to food for certain sections of the population.

Summery of Economics Class 10 Chapter 1

The summary of Economics Class 10 Chapter 1 provides an insight into the fundamental concepts of development and the importance of resources in a country’s progress. The chapter discusses various criteria used to measure development, such as per capita income, literacy rate, and healthcare facilities. It highlights the limitations of using only per capita income as a measure of development and emphasizes the significance of considering other socio-economic factors. The chapter also explores the concept of sustainable development, which involves using natural resources responsibly for the well-being of present and future generations. It emphasizes the need to strike a balance between economic growth and environmental preservation. Additionally, the chapter touches upon the impact of environmental degradation on the planet, emphasizing the urgency to adopt sustainable practices. Overall, this chapter serves as a foundational understanding of development and its broader implications for society and the environment.

Students will Get In Economics class 10 chapter 1:

1. Diverse development goals: The varied aspirations people have for development.
2. Purchasing power parity (PPP) concept: Understanding the comparative value of currencies.
3. Perspectives on development: Examining different viewpoints on progress.
4. Common indicators and measurement methods: Assessing development through various criteria.
5. Income and other aspirations: Identifying factors like salary and job security as development goals.
6. National development: Analyzing a nation’s ability to enhance its citizens’ living standards, considering per capita income, Gross Domestic Product (GDP), literacy rate, etc.
7. Comparison of countries or states based on per capita income due to population variations.
8. Calculation of per capita income and other criteria.
9. Access to public facilities: Understanding the availability of essential services.
10. Emphasis on sustainable development: Focusing on responsible resource use for future generations.

“Exploring Economic Development” is a crucial component of Class 10 SST Economics. For comprehensive solutions to the entire NCERT Class 10 Social Science syllabus, refer to the provided link.

Read Also:

• Money and Credit Class 10 Solution of NCERT Economics Ch. 3

Frequently Asked Question on Economics Class 10 Chapter 1

Q 1. What is the name of the book of Economics class 10?

Q 2. How many chapters are there in Economics Class 10 CBSE?

Five.

Q 3. How to pass in Economics?