Class 10 Social Part 3 (B) Economics Chapter 2 Economic Development
Are you searching for SEBA Class 10 Social Part 3 (B) Economics Chapter 2 Economic Development? If yes, then you are in the right place. This article provides complete notes, textbook solutions, important questions and answers, and exam-oriented study materials for Class 10 students.
This chapter explains the meaning, objectives, and importance of Economic Development in improving the quality of life of people. Students will learn about economic growth, human development, sustainable development, per capita income, national income, poverty, unemployment, and the various factors that contribute to the development of a country. The chapter also highlights the role of education, health, technology, and infrastructure in achieving long-term economic progress.
All notes and solutions are written in simple and easy-to-understand English, making it easier for students to understand the concepts and prepare effectively for examinations. These study materials are highly useful for revision, class tests, annual examinations, and the HSLC board examination.
Part-III (B) Economics
Economic Development
Selected Questions &Answers
Very Short Answer Type Questions (Mark-1)
1. When was NITI Aayog formed? Who is the Chairperson of NITI Aayog? HSLC ’17, ’20
Ans: NITI Aayog was formed on 1 January 2015, replacing the Planning Commission of India. The Chairperson of this body is the Prime Minister.
2. What determines the national income of a country?
Ans: Economic development determines the national income of a country.
3. When was the first Human Development Report published?
Ans: In 1990.
4. When was NITI Aayog formed?
Ans: In 2015.
5. Where was the first meeting of NITI Aayog held?
Ans: In Delhi.
6. When did India’s first Five-Year Plan begin?
Ans: In 1951.
7. What is the main cause of the poverty cycle?
Ans: Lack of capital investment is the main cause of the poverty cycle.
8. What is the Green Revolution?
Ans: The increase in agricultural production through the use of modern technology is called the Green Revolution.
9. What is economic planning? HSLC ’22
Ans: Economic planning refers to the control and direction of a country’s economy by a central authority to achieve specific goals within a fixed period.
10. Explain in one sentence:
(a) Globalization
Ans: Globalization means establishing a connection between the economy of a country and the economies of other countries of the world.
(b) Economic development
Ans: Economic development refers to the proper utilization of natural resources, development of industries, fulfillment of basic needs, improvement in the standard of living, and change in social outlook.
(c) Liberalization
Ans: Liberalization means the relaxation of government control over the economic system of a country.
(d) Privatization
Ans: Privatization means transferring institutions under government control and management to the private sector.
(e) One Main Feature of Democratic Planning. HSLC ’22
Ans: In democratic planning, representatives of the people are involved from the grassroots level.
Short Answer Type Questions (Marks-2)
1. What is meant by “Expansion of Collective Choice”?
Ans: “Expansion of Collective Choice” means human development. It refers to determining collective preferences based on the likes and dislikes of individuals. Economic development focuses mainly on income, whereas human development emphasizes the expansion of collective choices. Therefore, expansion of collective choice indicates human development.
2. Write three main objectives of India’s Five-Year Plans.
Ans: The three main objectives are:
(a) Eradication of poverty
(b) Increase in employment
(c) Acceleration of the rate of economic development
3. Mention two main differences between economic growth and economic development. HSLC ’18
Ans: The two differences are:
(a) Economic growth refers to an increase in national income and per capita income, whereas economic development indicates overall improvement in the well-being of people.
(b) Economic growth focuses on quantitative aspects, whereas economic development emphasizes broader social and qualitative improvements.
4. What are the three indicators of Human Development Index? Which organization publishes the Human Development Report? HSLC ’18, ’20
Ans: The three indicators of human development are:
(a) Life expectancy
(b) Education
(c) Standard of living. The United Nations Development Programme publishes the Human Development Report.
Essay-type Question-Answers
1. Write one main difference between the first phase (1951–1991) and the second phase (1991 onwards) of planned economic development in India. HSLC ’18
Ans: During the period from 1950–51 to 1990–91, the public sector played a dominant role in India’s economic development, while the private sector had a secondary role. From the beginning of Five-Year Plans, India adopted a mixed economy, but the importance of the private sector was comparatively less. In the first phase (1951–1991), the main objectives were:
(a) Achieving self-reliance
(b) Establishing social justice
(c) Accelerating economic growth
(d) Emphasis on modern technology
However, due to droughts and foreign wars, economic development was not satisfactory. The average growth rate of national income during this period was about 3.5%. The Green Revolution began in the mid-1960s, leading to some increase in agricultural production. In the second phase (1991 onwards), major changes occurred. Liberalization, privatization, and globalization gained importance, reducing the role of the public sector. The main reasons for this shift were:
(a) Increase in government expenditure over revenue leading to fiscal deficit
(b) Inflation caused by limited production affecting weaker sections(c) Decline in foreign capital inflow and outflow of capital from India
2. Mention three benefits of economic reforms.
Ans: Economic reforms introduced in 1991 led to:
(a) Reduction in wholesale price index compared to earlier levels
(b) Increase in the rate of economic growth
(c) Increase in foreign exchange reserves with the central bank
3. How have liberalization, privatization, and globalization affected economic reforms in India? HSLC ’17, ’19
Ans: Globalization refers to linking a country’s economy with the economies of other countries. Since 1991–92, India has emphasized globalization, which has led to:
(a) Reduction in wholesale price index
(b) Increase in economic growth rate
(c) Increase in foreign exchange reserves with the Reserve Bank of India
4. Mention three objectives of Assam’s Twelfth Five-Year Plan. HSLC’17
Ans: The three objectives are:
(a) Increasing the rate of development of Assam(b) Reducing poverty and economic inequality through various schemes(c) Solving flood and soil erosion problems using modern technology and scientific management
5. What is economic planning? Mention the period of India’s First Five-Year Plan. HSLC ’18
Ans: Economic planning is the process of directing a country’s economic activities by a central authority to achieve specific goals within a fixed time. The period of India’s First Five-Year Plan was from 1 April 1951 to 31 March 1956.
6. Write a note on human development. HSLC ’19
Ans: Human development refers to the improvement in the quality of life of people through social, economic, and political progress. The indicators of human development are:
(a) Life expectancy
(b) Education
(c) Standard of living
7. What are the main objectives of the Industrial and Investment Policy announced by the Government of Assam in 2014? HSLC ’19
Ans: The main objectives are:
(a) Increasing investment for the development of small and medium industries
(b) Creating a large number of skilled workers
(c) Developing economic activities in both manufacturing and service sectors to increase state domestic product
(d) Increasing per capita income by generating employment opportunities.
Multiple Choice Questions (MCQ)
Q. Due to the Green Revolution in India, which crop benefited the most?
(a) Sugarcane
(b) Rice
(c) Wheat
(d) Maize
Ans: (c)
Q. The monetary value of all goods and services produced in a country in a financial year is called—
(a) Per capita income
(b) National income
(c) Average income
(d) All of these
Ans: (b)
Q. When was the Planning Commission of India established?
(a) March 1950
(b) March 1951
(c) March 1952
(d) March 1953
Ans: (a)
Q. How many levels of human development are there?
(a) Two
(b) Three
(c) Four
(d) Five
Ans: (c)
Q. When was NITI Aayog formed?
(a) 2012
(b) 2013
(c) 2014
(d) 2015
Ans: (d)
Q. The New Industrial Policy of 1991 reserved how many industries for the public sector?
(a) 5 industries
(b) 6 industries
(c) 8 industries
(d) 9 industries
Ans: (c)
Q. How many indicators are there for human development?
(a) 3
(b) 4
(c) 5
(d) 6
Ans: (a)
Q. What is the central focus of human development?
(a) Rajya Sabha
(b) Lok Sabha
(c) State Government
(d) People
Ans: (d)
Q. The increase in agricultural production through modern technology is called the Green Revolution.
(a) True
(b) False
(c) Both (a) and (b)
(d) None
Ans: (a)
Q. One of the indicators of human development is—
(a) Standard of living
(b) Standard of livelihood
(c) Standard of work
(d) None of the above
Ans: (a)
Q. Where was the first meeting of NITI Aayog held?
(a) Mumbai
(b) Chennai
(c) Dubai
(d) Delhi
Ans: (d)
Q. Who is the Chairperson of NITI Aayog?
(a) President
(b) Prime Minister
(c) Speaker of Lok Sabha
(d) Vice-President
Ans: (b)
Q. When was the Cooperative Act passed in India?
(a) 1910
(b) 1911
(c) 1912
(d) 1913
Ans: (c)
Q. When was the North Eastern Development Finance Corporation established?
(a) 1996
(b) 1990
(c) 1993
(d) 1999
Ans: (a)
Q. Which are commercial crops in India?
(a) Rice and jowar
(b) Wheat, maize, and rice
(c) Cotton and sugarcane
(d) Bajra and rice
Ans: (c)
Q. How many levels are there in India’s administrative system?
(a) Two
(b) Three
(c) Four
(d) Five
Ans: (b)
Q. The production sector consisting of government investment andstate-owned enterprises is called—
(a) Private sector
(b) Public sector
(c) None
(d) Government sector
Ans: (b)
Q. The period covered by India’s First Five-Year Plan is— HSLC ’24
(a) 1 April 1951 – 31 March 1956
(b) 1 April 1950 – 31 March 1955
(c) 1 April 1956 – 31 March 1961
(d) 1 April 1961 – 31 March 1963
Ans: (a)
Q. Who is the Chairperson of NITI Aayog formed in 2015? HSLC ’23
(a) President of India
(b) Prime Minister of India
(c) Governor of RBI
(d) Vice-President of India
Ans: (b)
Q. The period covered by a financial year in India is— . HSLC ’23
(a) 1 January to 31 December
(b) 1 February to 31 January
(c) 1 March to 28/29 February
(d) 1 April to 31 March
Ans: (d)
