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Development explores the concept of progress and improvement in various sectors, emphasizing sustainable and inclusive growth for societal well-being.
DEVELOPMENT - Quick Look Revision Guide
Your 1-page summary of the most exam-relevant takeaways from Understanding Economic Development.
This compact guide covers 20 must-know concepts from DEVELOPMENT aligned with Class X preparation for Social Science. Ideal for last-minute revision or daily review.
Complete study summary
Essential formulas, key terms, and important concepts for quick reference and revision.
Key Points
Define Development with an example.
Development refers to the progress in economic, social, and political aspects of a country. For example, better education and healthcare facilities signify development.
Different people have different developmental goals.
People's aspirations vary based on their needs and circumstances. A farmer may want better irrigation, while a student may desire quality education.
Income is a common but incomplete measure of development.
While higher income can lead to better living standards, it doesn't guarantee non-material aspects like freedom or security.
Per Capita Income = Total Income / Total Population.
This formula helps compare economic status of countries by averaging income per person, highlighting disparities.
High-income countries are called developed countries.
Countries with per capita income above $49,300 (as of 2019) are classified as developed, like the USA.
India is a low middle-income country.
With a per capita income of $6700 in 2019, India struggles with income inequality and development challenges.
Public facilities are crucial for development.
Access to healthcare, education, and clean water improves quality of life beyond what income can buy.
Kerala excels in health and education despite lower income.
Kerala's high literacy rate and low infant mortality show development isn't solely income-dependent.
Human Development Index (HDI) measures overall development.
HDI considers life expectancy, education, and per capita income to rank countries holistically.
Sustainability ensures future generations' needs are met.
Overusing resources like groundwater can lead to scarcity, emphasizing the need for sustainable practices.
Non-renewable resources like crude oil are finite.
With reserves lasting ~50 years, alternative energy sources are vital for long-term development.
Infant Mortality Rate (IMR) reflects healthcare quality.
Lower IMR, like Kerala's 7 per 1000, indicates better healthcare access and nutrition.
Literacy Rate measures educational access.
Higher literacy, as in Kerala (94%), correlates with better employment opportunities and societal progress.
Net Attendance Ratio shows school participation.
A high ratio indicates effective education policies and societal value placed on schooling.
Gender equality is a key developmental goal.
Equal opportunities for women in education and work enhance societal development and dignity.
Collective provision of goods can be more efficient.
Public schools and hospitals serve many at lower costs than individual private solutions.
Development requires democratic participation.
Inclusive decision-making ensures diverse needs are met, fostering equitable progress.
Environmental degradation affects all.
Pollution and resource depletion cross borders, requiring global cooperation for sustainability.
Body Mass Index (BMI) indicates nutritional status.
BMI = Weight (kg) / (Height (m))^2. It helps assess undernutrition or obesity in populations.
Conflicting developmental goals need balancing.
Industrial growth vs. environmental protection requires policies that harmonize both objectives.
Explore the three sectors of the Indian economy - Primary, Secondary, and Tertiary, understanding their roles, challenges, and contributions to national development.
Explore the concepts of money, its role in the economy, and the functioning of credit systems in this chapter.
This chapter explores the impact of globalisation on the Indian economy, including trade, investment, and the integration of markets worldwide.
This chapter educates students about the rights and responsibilities of consumers, the importance of consumer awareness, and the mechanisms for consumer protection in India.
