Development It pertains to the growth of an individual, a society, a nation or the entire world. Answer : i The demand for the average size of any readymade garment is the maximum. This is the situation of underemployment, where people are apparently working but all of them are made to work less than their potential. The very first problem encountered by any economy is to decide what goods are to be produced and in what quantities or amount. Q3 :Which average is affected most by the presence of extreme items? It is least affected by the extreme values. This is an important mathematical property of arithmetic mean.
Literacy rate for population above 15 years of age and gross enrollment ratio for the primary, secondary and higher education levels. Hence, sustainability is an important aspect of development. What are the limitations of this criterion, if any? Arithmetic mean is most affected by the presence of extreme items. If natural resources are not sustained, then development will stagnate after a point of time. Why is the issue of sustainability important for development? It is one of the prime demerits of the arithmetic mean. Factors of production are privately owned. Countries with higher incomes are considered more developed than those with less income.
It establishes a relationship between the income and population of a country. Anwer: Whenever we need to analyse a big sample size, it is difficult to analyse individual data. The developmental goals that people have are not only about better income but also about other important things in life. Answer We use averages because they are useful for comparing differing quantities of the same category. For each of the items given in Table 1. Kerala, with lower per capita income has a better human development ranking than Punjab because, human development ranking is determined using a combination of factors such as health, education, and income.
St Page No: 16 Exercises 1. False This statement is false as mean is not a positional average, rather the statement holds true for median and mode. Some people might be richer while other people are very poorer in that country. Answer: People of Kerala get better nutrition than the people of Madhya Pradesh. These are some ways by which we can create more employment. Microeconomics helps in solving the three central problems of an economy. All developmental goals are co-related.
So, this does not imply that per capita income is not useful. Development is measured on the basis of four indices:? This does not show distribution of thing between people. Answer: Per Capita Income is the main criterion used by the World Bank in classifying different countries. . Answer Per Capita Income is the main criterion used by the World Bank in classifying different countries.
So, we need to find some alternate fuel; like gobar gas for rural India. All of this shows the level of environmental degradation. For an example, if a country has very high per capita income then we can't say that citizen living in that country are very rich because we are not knowing about the distribution of wealth in that country. Why do we use averages? Once it is decided, what to produce, the next decision is to estimate the amount or quantity of the production. How is this statement relevant to the discussion of development? Infant Mortality Rate It is the number of children that die before attaining one year of age as a proportion of 1000 live births in a year. For example, to compute the per capita income of a country, averages have to be used because there are differences in the incomes of diverse people. Moreover, the median value can be estimated even in case of incomplete statistical series.
Life Expectancy at birth denotes, as the name suggests, average expected length of life of a person at the time of birth. The average production is best calculated by arithmetic mean. Compares countries on the basis of education levels, health status and per capita income in order to gauge their development. Countries with higher incomes are considered more developed than those with less income. The World Bank uses per capita income as the criterion for measuring development and comparing states.
It uses the method of general equilibrium, i. This does not show distribution of thing between people. This is one of the mathematical properties of arithmetic mean. Rather, per capita income is one of the development factors and can not be neglected. It is also the study of demand and supply and how their interaction determines prices of various goods and services. These activities, by themselves, do not produce a good but they are an aid or a support for the production process. The average per capita income of these families is Rs 5000.
How is this statement relevant to the discussion of development? If we go on exploiting our natural resources indiscriminately, then nothing would be left for the future generation. The Nationalist Movement in Indo — China Main focus on the chapter is the nature of French colonialism in Indo — China, the phases of struggle against the French — the ideas of Phan Dinh Phung, Phan Boi Chau, Nguyen Ae Quoc. Underemployment can be also seen in tertiary Sector. The objective behind selecting such mechanism is to reduce inequality of income, to reduce poverty and to add to the social welfare and standard of living of people. The World Bank uses per capita income as the criterion for measuring development and comparing states. They decide what to produce, while the role of a government is limited to maintaining law and order in the nation. It ranks 177 countries of the world on the basis of three indicators:? This decision rest on the present economic conditions and also that the selected technique shall not only reduce the cost of production but also add to the social and economic welfare.