Economics Assignment X 2024 Understanding Economic Development

Chapter 1 Development

1. Mention the viewpoints leading to the concept of development. 3

2. What is meant by the term ‘Development’? 1
3. Which other subjects beside economics, help to answer the questions related to development. 2
4. What is Imperative for the desire for change? 2
5. What is the way to achieve the hopes and possibilities? 1
6. Understand the idea from the table 1.1 that different people have different goals. 5
7. Explain critically to understand, ‘Do all persons have same notion of development’? 3
8. Is it possible to have conflict in the context of two people? 1
9. Explain the conflict with two examples. 2
10. Summarize the concept of development based on your understanding. 2
11. What people actually require in the context of development, beside Income? 3
12. Justify the importance of other goals beside the income. 5
13. Explain the Image displayed on page 5. 2
14. Discuss: ‘What cannot be measured is important or not’ with example. 3
15. Explain, ‘For development, people look at mix of goals’ in the context of development. 5
16. Discuss ‘let’s work these out’ on page 6. 5
17. Can we find similarity regarding the idea of development of nation? 1
18. If not, then which questions should form the base for National Development? 5
19. Discuss ‘let’s work these out’ on page 7. 5
20. Discuss: ‘If development mean different things, how come some countries are generally called
Developed/Underdeveloped’. 3
21. Explain with examples to understand how do we choose the criteria to compare
different elements? 5
22. Does this study have any relevance to the concept of development? 2
23. Which is most important attribute to compare countries? 1
24. Explain the base for taking income as an important attribute to compare the countries. 5
25. What is total income of the country? 3
26. Why total income cannot be taken as an important attribute to compare countries? 3
27. What is taken as an important to compare the nations? 1
28. How is the per capita income calculated? 3
29. Discuss: ‘While averages are useful for comparison, they also hide disparities’. 5
30. Give three examples where an average is used for comparing situations. 3
Average income of two countries, average speed of two vehicles over a distance, average height
of the students in two different classes of the school.
31. Besides size of per capita income, what other property of income is important in comparing
two or more societies? 1
Equitable distribution of income in the country.
32. Suppose records show that the average income in a country has been increasing over a
period of time. From this, can we conclude that all sections of the economy have become better? 3
No, we cannot conclude that all sections of the economy have become better from the records
showing the increase in average income over a period of time. An example is the current situation
in India. While the average income has increased over the years, the service sector has increased
over the years. But agriculture sector is having virtually no growth.

1 | 10 P a g e
Economics Assignment X 2024 Understanding Economic Development

Chapter 1 Development

33. Write your notion of what should India do, or achieve, to become a developed country?
 Strive for Highly developed economy.
 Have advanced infrastructure facilities like better roads, transport, I.T. etc.
 Higher per capita income to match developed nations’.
 A higher standard of living with enough food to feed the poor.
 Service sector should provide more wealth than agriculture and industrial sector.
34. Compare table 1.3 with table 1.4 on page 10 to compare the outcome of the relationship between
income and other criteria. 5
35. Explain in detail: ‘Money in your pocket cannot buy all the things’. 5
36. Think of other examples where collective provision of goods and services is cheaper than
individual provision. 3
In factories, in mining and in manufacturing etc. where an activity is carried out on a mass scale.
37. Does availability of good health and educational facilities depend only on amount of money spent
by the government on these facilities? What other factors could be relevant?
No, it does not depend on amount of money spent. It also depends on the capabilities of the doctors
and qualities of the medicines in the case of health facilities. In education, the quality of teacher
is important.
38. In Tamil Nadu, 75 percent of the people living in rural areas use a ration shop, whereas in
Jharkhand only 8 percent of rural people do so. Where would people be better off and why? 3
Health and nutritional status of the people depends upon the availability of cheap and reasonable
quality food grains, sugar and other items from the PDS system. So, in Kerala, the people will be
better off, since more people there use the facilities provided by the PDS system.
39. Explain the criterion used by the UNDP in the Human Development Report to
compare countries. 5
40. Go through the table 1.6 on page 13 to analyze the data provided. 5
41. Do you think there are certain other aspects that should be considered in measuring
human development? 5
Yes, there are certain aspects that should be considered in measuring human development.
Some of them are as follows:
1. Physical growth and motor development
2. Cognitive (Intellectual) development
3. Emotional development
4. Social development
5. Moral development
42. Explain: ‘We have not inherited the world from our forefathers – we have borrowed it from
our children.’ 5
43. Explain the concept of ‘sustainability of development.’ 3
44. Go through Example 1 on page 14 to draw out the conclusions. 3
45. Go through Example 1 on page 14 to draw out the conclusions. 3
46. Explain: ‘Consequences of environmental degradation do not respect national or
state boundaries. 5
47. Explain: ‘The question of development or progress is perennial.’ 5

______________________________

2 | 10 P a g e
 Economics Assignment X 2024 Understanding Economic Development

Chapter 2 Sectors of the Indian Economy

1. Mention the sectoral classification of economy in the context of:

“Nature of Activity”. 3

2. Mention the three types of classifications to explain the economy of the nations. 3

3. Explain the issue of problems caused by changes in the role of sectors. 3

4. Emphasize on the issue of declining importance of agriculture and growing importance of

industry and service. 3

5. Identify the sources of information regarding the data related to economic sectors, GDP etc. 3

6. How do we understand the economic activities of people? 1

7. Explain the activities of Economic sectors in detail. 3x1

8. Explain by going through table 2.1 on page 21 ‘Economic activities, though, are grouped into
three different categories, are highly Interdependent.’ 5

9. How do we count the various goods and services in each sector? 5

10. How do we count the total production of the sector for a particular year? 5

11. Which agency measures the GDP in India and how? 5

12. Explain the historical change in sectors in detail. 3x1

13. What does the comparison between 1973 and 2003 show? What conclusions can we draw from
the comparison from graph 1? 5

14. Analyze the graph 2 on page 25. Why is the tertiary sector becoming so important in India? 5

15. Analyze the graph 3 on page 25 to explain ‘not all of the service sector is growing equally well’ 5

16. Where are most of the people employed? 5

17. Why didn’t a similar shift out of primary sector happen in case of employment? 3

18. Explain the concept of ‘disguised unemployment’ both in rural and urban areas, in detail. 5

19. Why should we be worried about underemployment? 3

As the earning capacity of the person is reduced, resulting in poor standard of living. Ultimately
This can also lead to poverty.

20. How to create more employment? 10x1

21. Explain NREGA 2005 as right to work, in detail. 5

3 | 10 P a g e
 Economics Assignment X 2024 Understanding Economic Development

Chapter 2 Sectors of the Indian Economy

22. Explain the economic sectors in the context how:

“People are Employed”. 5

23. What are the condition of work under organized and unorganized sectors? 5

24. Explain organized and unorganized sectors with respect to follow the rules and regulations. 5

25. Do you agree that agriculture is an organized sector activity? Why? 5

Yes. Agriculture in India is an activity of the unorganised sector.
 Most of the workers working in agriculture are ill paid.
 Agriculture sector faces the problem of under employment.
 Most of the workers working in agriculture are employed only during harvesting and sowing
season.
 Most of the farmers are dependent on moneylenders and relatives for their loan requirements.
 In agricultural activities, wages paid to the labourers are lesser than the wages set by the
government (as per the Minimum Wage Law).
 Jobs in this sector are not permanent and many times farmer work by themselves or as hired
labourers.
 Farmers do not get any employment benefits such as insurance, medical allowance, etc. that
the workers in an organized sector are entitled to.

26. Explain the organized sector in the context of job provision. 5

27. Why large number of workers lost their jobs since 1990s under organized sector? 5

28. Explain the vulnerable groups to lose jobs in urban areas. 5

29. Explain the vulnerable groups to lose jobs in rural areas. 5

30. Which sections of the society are found in the unorganized sector in majority? 3

31. Explain the economic sectors in the context of:

“who owns the assets and is responsible for the delivery of services”. 5

32. Discuss: “There are several things needed by the society as a whole but which the private sector
will not provide at the reasonable cost.” 5

____________________________

4 | 10 P a g e
 Economics Assignment X 2024 Understanding Economic Development

Chapter 3 Money and Credit

1. Explain three types of transactions made in different ways. 3

2. Why transactions are made in money? 5

3. What is meant by ‘barter’ and explain ‘double coincidence of wants’ as its essential feature? 3

4. How money eliminates the need for double coincidence of wants? ` 5

5. Justify money as a ‘Medium of Exchange’. 5

6. Can you think of some examples of goods/services being exchanged or wages being paid
through barter? 3
Yes, in rural areas generally crops and food-grains are directly exchanged without the use of money.

7. Comment on the introduction of various objects used as money, before coins. 3

8. Explain different types of early coins. 3

9. Name different ways of holding the money. 3

10. Name different types or currency. 2

11. Why are paper notes and currency accepted as a medium of exchange? 3

12. Who issues the currency notes on behalf of central government? 1

13. Explain Indian laws regarding the currency. 5

14. Explain ‘deposit with the bank’ mechanism in detail including the facility of Cheque’. 5

15. Justify demand deposits as a modern form of money. 5

16. How currency and deposits are closely linked to the working of the modern banking system? 3

17. Why are demand deposits considered as money? 3

It is because they can be withdrawn when required and the money withdrawn can be used for
making payments. So, they are also considered as money in the modern economy.

18. What do the banks do with the deposits which they accept from the public? 5

19. Explain the source of the income of the bank. 2

20. What do you think would happen if all the depositors went to ask for their money at the same time?3
There simply is not enough money in them to pay all the deposits out. Now the bank would make
statements that it was solvent and would keep giving money out to depositors - to do otherwise
would make things get tricky. Banks depend on confidence for people to deposit money in them.
If this fails then it is all over.

5 | 10 P a g e
 Economics Assignment X 2024 Understanding Economic Development

Chapter 3 Money and Credit

21. Explain two different credit situations. 5

22. Explain the terms of credit in detail. 5

23. Why do lenders ask for collateral while lending? 5

If the borrower fails to repay the loan, the lender has the right to sell the asset or collateral to
obtain payment. Reduction of exposure in order to do more business with each other when credit
limits are under pressure. Possibility to achieve regulatory capital savings by transferring or
pledging eligible assets.

24. Read Graph 1 carefully to get an idea of the sources of rural household in India. 7

25. Differentiate between ‘Formal’ and ‘Informal’ sources of credit in detail. 5

26. How Reserve Bank of India supervises the functioning of the banks? 5

27. Who supervises the functioning of the Informal sector? 5

28. What problems people face due to Informal lending? 5

29. Define the term ‘Debt trap’. 1

30. What are the ways to protect the people from the clutches of Informal lenders? 5

31. Explain: “Cheap and affordable credit is crucial for the country’s development”. 3

32. Read Graph 2 carefully to get an idea of the sources of Urban household in India. 4

6 | 10 P a g e
 Economics Assignment X 2024 Understanding Economic Development

Chapter 3 Money and Credit

33. What conclusions can be drawn after comparing graph 1 on page 48 and graph 2 on page 49. 5

34. What are the differences between formal and informal sources of credit? 5

35. Why should credit at reasonable rates be available for all? 5

36. Should there be supervisors, such as the Reserve Bank of India, that looks into the loan activities
of informal lenders? Why would its task be quiet difficult? 5

37. Why do you think that the share of formal sector credit is higher for the richer households
compared to the poorer households? 5

38. Why poor households still depend upon the informal sources of credit? 5

39. Explain how informal lenders cheat the poor? 5

40. Explain the mechanism of Self Help Group in detail. 5

41. Who takes the most important decisions in the self-help groups? 3

42. How is the repayment procedure adopted in Self Help Groups, if someone fails to pay the loan? 3

43. Explain: ‘The SHGs are the building blocks of the organization of the rural poor”. 5

44. Explain the image given on page 51. 3

45. Explain the Grameen bank of Bangladesh. 5

____________________

7 | 10 P a g e
 Economics Assignment X 2024 Understanding Economic Development

Chapter 4 Globalization and the Indian Economy

1. Explain the rapid transformations of market in recent years. 5

2. How the trade before the Multinational Corporation was dotted the scene? 3
3. Explain the multinational corporation in detail. 3
4. Explain how the spreading of production by MNC takes place. 5
5. Explain, “The advantage of spreading out production across the borders to the multinationals
can be truly immense.” 5
6. Under which circumstances, the MNCs set up production? 5
7. Distinguish between investment and foreign investment. 3
8. Explain all the three ways of interlinking production across countries. 3
9. Work out the following:

10. What was the main channel of connecting countries for a long time? 2
11. What are the basic function of the foreign trade? 5
12. Explain the effect of foreign trade with an example. 3

8 | 10 P a g e
 Economics Assignment X 2024 Understanding Economic Development

Chapter 4 Globalization and the Indian Economy

13. Explain the advantages of opening of the trade. 3

14. Work out these:

15. Explain the mechanism of MNCs in detail. 5

16. Explain the process resulting in the close connectedness between the countries in the recent past. 3

17. Which things moves between the countries as a result of Globalization. 5

18. Explain the factors that have enabled globalization. 2.5+2.5

19. What are the advantages of containers for transport of goods? 3

20. By which means information and communication technology has helped globalization? 5

21. Work out:

9 | 10 P a g e
 Economics Assignment X 2024 Understanding Economic Development

Chapter 4 Globalization and the Indian Economy

22. What would happen if Indian government puts tax on import of things? 3

23. Explain the term ‘Trade Barrier’. 3

24. What changes were brought in the starting of 1991? 5

25. What was the impact of the changes those were brought in 1991? 5

26. Explain the term ‘Liberalization’. 3

27. Work out:

28. Explain mechanism of the powerful organizations supporting liberalization of foreign trade
in India. 3

29. Explain the organization that aim to liberalize international trade. 3

30. Explain the biased nature of W.T.O. 3

31. Work out:

10 | 10 P a g e