ECONOMICS CHAPTER 1 NOTES CLASS 10

CHAPTER-1

DEVELOPMENT

1.WHAT DEVELOPMENT PROMISES-DIFFERENT PEOPLE,DIFFERENT GOALS.

• Development promises a real growth by enhancing total income and standard of living of  person.
• Different persons can have different development goals and two,what may be development goal for one may not be development for the other. It may even be destructive for others.

For Eg: A girl expects as much freedom and opportunity as her brother, and that he also shares in the household work. Her brother may not  like this.

2.INCOME AND OTHER GOALS

• People prefer to earn more income for fulfilling their daily requirements of life.
• But, money or material thing  that one can buy with it , is one factor one which life depends. But the quality of our life also depends on non-material thing such as freedom,security and respect for others.

For Eg: A job may give less income but may offer regular employment that enhances the sense of security. But, the another job , however, may offer a high income but no job security and also leave no time for the person working.This would reduce the sense of security and freedom.

• Similarly, for development, people look at a mix of goals.
• Hence, the development goals that people have are not only about better income but also about other important things of life.

3.How to compare different countries or states?

• Usually, we take one or more important characteristics of persons and compare them based on these characteristics.
• For comparing countries ,their income is considered to be one of the most important attributes.
• Countries with higher income are more developed than the other with less income.
• So, greater income itself is considered to be an important goal.
• We compare the average income which is the total income of the country divided by its total population. The average income is also called per capita income.    
• Per capita income of the country shows  the standard of living of the citizen of that particular country.

4.NATIONAL DEVELOPMENT

• It is very important to keep in mind that different persons could have different as well as conflicting notions of a country’s development.
•  National development means thinking about fair and just path for all, whether there is a better way of doing things.

5.Public Facilities

• Money with in our pocket cannot buy all the goods and services that we may need to live well.
• Income itself is not a completely adequate indicator of material goods and services that citizens are ale to use.
• Facilities which are provided by the government are considered as public facilities like schools,hospitals,parks,transport,etc.
• Kerala has a low Infant Mortality Rate because it has adequate provision of basic health and educational facilities.

6.Sustainability Development

• Sustainability development refers to development of human with at the same time  sustaining the ability of natural system.
• It is helpful to fulfill the needs of the human being without harming the ability of the future generation.
• Groundwater is an example of renewable resources.These resources are replenished by nature as in case of crops and agriculture.
• Non-renewable resources are those which will get exhausted after years of use. We have a fixed stock on earth which cannot be replenished.