which factors determine a country's economic development class 10

The purpose of this paper is to find out the factors that hinder the development of economic activities in this region.,This If policy makers decide to limit emissions of carbon dioxide, motor CBSE Class 10 Social Science Understanding Economic Development is a brilliant section of your Social Science syllabus. This section is entirely based on economics and the terms related to the economic development of a country. Economic Development 1. Natural resources include the resources produced by nature on land or underground. When there is a change in these, it influences the social life. New York, like other cities, has indeed fallen on hard times. Factors That Determine a Nation's Standard of Living . (c) it is derived from volcanic origin. New Zealand (7.307) 9. The other 20 countries are at lower levels of economic development. Labor force that is searching for a job but without one is called unemployed. Thanks 2. star. (b) The average income in a country is the income of only employed people. The higher export rate will bring in more profits and ensure that the economy is consistently growing. The solutions for Chapter 1 of Understanding Economic Development are given below. One of the most important and a simple measure of economic development among them is per capita income. B. (a) Average income of the country means the total income of the country. NCERT Solutions for Class 10 Maths of a nation in terms of three important variables, namelylongevity, knowledge and standard of living, that determine the quality of life. economic development, the process whereby simple, low-income national economies are transformed into modern industrial economies. Socio-economic class, also known as socioeconomic status and often abbreviated as SES, refers to how other factors, namely occupation and education, are combined with wealth and income to rank a person relative to others in society. Answer (d) All the above.

Similar questions. Literacy levels of China have risen dramatically over the past 20 years and now stand at 95%. Soil formed by intense leaching is. The quality and quantity of available human resource can directly affect the growth of an economy. Another major indicator of economic performance of a country is its rate of employment (Klasen & Lamanna, 2009). It helps to increase per capita income and the national output of the country. Countries located in North Africa, in the Sahara and Sahel regions, face significant challenges including high temperatures, desertification and a lack of fresh water. Students should also check NCERT Solutions for Class 10 for other subjects. In an essay of at least two well-developed paragraphs, analyze four of the factors that can affect economic development in some countries. Top 10 Economic Factors Affecting Business #1- Interest Rate #2 Exchange Rate #3 -Tax Rate #4 Inflation #5 Labor #6 Demand / Supply #7 Wages #8 Law and Policies #9 Government Activity #10 Recession Economic Factors Affecting Development #1 Education and Training #2 Natural Resources #3 Power and Energy Resources Social and economic equality. In David Ricardos theory, for instance, technological differences between countries determine comparative advantage. Which of the following factor is not related to economic development? Q 8. NCERT Solutions for Class 11 Indian Economic Development; Class 10. Resources beneath land or underground resources include oil, natural gas, metals, and non-metallic minerals. Levels of development are dependent on Question 10: Write a paragraph on your notion of what should India do, or achieve, to become a developed country. Conditions in Foreign Trade: The classical theory of trade has been used by Purchasing power parities are a method used to measure and compare the economic data of other countries expressed Despite the possession of considerable natural, financial and human resources, the Middle East and North Africa (MENA) region suffers low economic growth rates, high unemployment rates, high poverty rates and high illiteracy rates. Human Development Index - HDI: The Human Development Index (HDI) was developed by the United Nations as a metric to assess the social and economic development levels of countries.

The problem with using one economic criterion for differentiating developing countries from developed countries is that it ignores several other factors that can determine a countrys development status. 37 Full PDFs related to this paper. (i) Supply of Natural Resources: ADVERTISEMENTS: The quantity and quality of natural resources play a vital role in the economic development of a country. Factor # 1. Economic System A system that sets rules for how people decide what goods and services to produce and how they are exchanged. Resource and Development World Class 10 Extra Questions and Answer Geography Chapter 1 Higher Order Thinking Skills (HOTS) Questions Resources are the basic requirements for countrys economic development. Economic Overview. Results: Less than adequate FHL occurred Conclusion. Viewed in terms of the differences and similarities factor in the education system, there are several key factors that lead to social changes that affect the change in the existing educational system in all countries. Landes (1998) says the "ideal growth and development society" would have "a relatively large middle class" (pp. Answer: Economic development is a process whereby an economys real national income increases over a long period of time. Development of a country can generally be determined by (i) its per capita income (ii) its average literacy level (iii) health status of its people (iv) all development economics considers how to promote economic growth in such countries by improving factors like health, education, working conditions, domestic and international policies and market conditions. These factors include: 1. In CBSE Notes Class 10 Economics Chapter 1, you will make a beginning in understanding the topic Development. In higher classes, you learn further about development issues. Here in this chapter, you will find answers to many questions such as; what should a country be like? The average number of years a person is expected to live in a specific country. Economic growth of less-developed economies is key to closing the gap between rich and poor countries. jd3sp4o0y and 4 more users found this answer helpful. The most important is consumer spending, which makes up 68% of the U.S. economy. Question 9: From the text, find out the per capita income level of middle-income countries as per World Development Reports. Capital formation: It means investing in transport, irrigation, roads, electricity, technology etc. Supply of Land and Other Natural Resources 2. Development of a country can generally be determined by the following factors (i) Per capita income: It is the average income generated by each person in a given group of people. star. Pick out the correct meaning listed below to define average income. If the human resource of a country is well skilled and trained then the output would also be of high quality. Read Paper. Question 2. 217-18). Here in this chapter, you will find answers to many questions such as; what should a country be like? The four supply factors are natural resources, capital goods, human It is investing labour and capital in innovation so that it can sustain its economic growth and reduce the risk involved in having a narrow economic base. (c) The average income is the same as per capita income. Better education facilities for their children. hendikeps2 and 348 more users found this answer helpful. A short summary of this paper. New York Times, Editorial, Mao's Great Leap to Famine, December 15, 2010. Industrial progress is an important indicator of the economic development of a country. A Chinese mandarin and British country squire may each have enjoyed a standard of living which was closer to the other than it resembled that of their nation's peasantry. 1.3K answers. It is a narrower term as compared to economic development. Legal, regulatory, and policy framework; 4. This is due to efficient health care systems, minimized corruption, high employment, and an overall higher standard of living compared to other parts of the world. This will be achieved through a series of seven-year National Strategies for Transformation (NST1), underpinned by sectoral strategies focused on achieving the Sustainable Development Goals. Answer: Sri Lanka: $ 9779, India: $ 5497, Pakistan: $ 4866. have social and economic dimensions worthy of research and analysis (3). It can greatly affect the economic growth of a country. Marxism is a methodology that advocates for the struggling class, the proletariat against capitalists, unlike the economic determinism that allows those who are economically empowered to use their financial status to establish political rule over the working class.

The eighth economic factor that affects tourism is the social factors that have direct effects on the tourism industry. Cultural Factors: The cultural factors also play a role in bringing about social change. Some of them are: The production level of a country The consumption level of a country The quantity and quality of natural resources The quantity and quality of public infrastructure The education of the general public Income and Other Goals. The 50 countries for which we were able to develop a comparable measure of cognitive skill levels include the 30 democracies that have market economies and have been accepted as members of the OECD, most of which are at a relatively high level of economic development. In the period up to the industrial revolution - and, indeed, probably to the middle of the C19th - social class was the key discriminator. 4) Political Stability. Instead, there are many different factors (economic or otherwise) that contribute to and measure how developed an economy is. Definition of Economic and Social Development Development economics considers how to promote economic growth in such countries by improving factors like health, education, working conditions, domestic and international policies and market conditions. This model is inspired by the theories of German sociologist Max Weber (18641920), who 8. Economic development is the process by which emerging economies become advanced economies. economic development of the country is directly linked with student academic performance. Human Capital 4. Community economic development is a branch of local economic development. This section is entirely based on economics and the terms related to the economic development of a country. Entrepreneurial motivation helps in entrepreneurship development. It is an important internal desire and force, which inspires him to take up entrepreneurial works and encourages him to achieve in his goals. Business is affected by different factors which collectively form the business environment. This Economics Class 10 NCERT Chapter 1 PDF has been made available to students online for download. Natural resources can be broadly divided into three categories viz. Ans : Economic development means the rate of production is greater than the rate of increase of population and rate of growth of GDP is high enough to fulfill the basic needs of the people of the country. 1. saving and investment and inflow of foreign capital; (iii) Growth of population; (iv) Technological Progress; and We examine below each of these factors in turn. Natural resources (those which are available as a free gift of nature) include land, water, minerals, fossil-fuel, forest products, wind and solar energy, etc.

Economic and non-economic factors Important economists who have pointed out the existence of economic and non-economic factors and should be noted are Nobel prize winners G.Myrdall and A.Sen, also before them A.Marshall (Hodgson, 2005). Per capita income is generally treated as the indicator of development of a country. Different countries of the world are classified according to their level of social and economic development. In addition to policy changes and trends, environmental trends are worthy of study. 3. A family earning between $32,048 and $53,413 was considered lower-middle class. Question 3. 7. There are six major factors that determine growth with for of them been grouped under supply determinants and the other two are efficiency and demand. Regional development is a complex process that can be analysed in various contexts, including environmental, social and economic factors. Food production, processing, and availability also can affect community-level measures, such as economic growth and social The PDF format has been prepared for it. Low price food grains. (ii) Literacy rate: Literacy rate measures the proportion of literate population in the 7 and above age group. Economic development of a country can be measured by its per capita income, literacy rate, health status, infant mortality rate and life expectancy of persons living in that country. What is the opinion of Prof. Meier and Baldwin about economic development? Full PDF Package Download Full PDF Package. higher capital formation will lead to higher economic development. Factors Affecting Land Use Economic Factors Climate- the amount of rainfall(too little or too much), wind and sunshine. More days of work with better wages.

(d) it is rich in potash. Rwanda now aspires to Middle Income Country status by 2035 and High-Income Country status by 2050. The level of wages also affects consumer spending. In other words, the process by which countries with low living standards become nations with high living standards. For example, let us (consider the system of marriage. Analysis. An increase in the rate of employment indicates an improvement in the standard of living. Many factors combine together to affect the health of individuals and communities. It is obtained by dividing the countrys national income by its population. NCERT Solutions for Class 10 Social Economics Chapter 1 Development Page 16 Q1. Economic historians have pointed out the importance of a large middle class for economic development. How to Compare Different Countries or States? This is based on the understanding that more income means more of all things that human beings need. 12. Following are the various factors which affect economic growth of countries: 1. Variations in the levels of development are naturally observed across countries and regions, but they play a special role in trans-border regions. Economic Development - Todaro and Smith. (b) it is rich in iron compounds. Answer: (1) Of course, for comparing economic development of countries, their income is considered to be one of the most important attributes. Economic development and human development are concepts that are related to one another in that they both measure a countrys overall development in terms of economic wealth and human welfare. The factors that affect the standard of living are the same ones that affect GDP. In comparison, economic development reflects the real difference in an economy. Economic development or economic growth refers to sustained efforts by people and businesses which result in improvement in the economic condition of the country. Answer: The following can be the developmental goals of landless rural labourers. Study Material and Notes of Ch 1 Development Class 10th Economics Topics in the Chapter Overview What Development Promises Different People, Different Goals. Resources beneath land or underground resources include oil, natural gas, metals, and non-metallic minerals. Our social life depends upon our beliefs, ideas, values, customs, conventions, institutions and the like. Download Download PDF. Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship. Definition and examples. Explore the economic factors that influence a country's economic development. When people buy groceries, gasoline, and clothing, their lives improve. 11. The aim of this study is to investigate differences in the level of In contrast, economic development is the qualitative factor that emphasizes improving peoples living standards. NCERT Solutions for Class 10 Economics Chapter 1 Development. National Development. Economic factors as determinants of development include natural and human resources.

Labor market characteristics; 2. Economic growth reflects the positive change in an economy. Economic growth is a quantitative factor that measures the total output or production. Technological Progress and Economic Growth. Sociologists have found correlations between many social problems and poverty. a branch of economics that focuses on improving the economies of developing countries. It refers to a sustained increase in real per capita income that promotes economic welfare by reducing poverty, unemployment & inequalities in the distribution of income. The existence of natural resources in abundance is essential for economic development. The factors of production are resources that are the building blocks of the economy; they are what people use to produce goods and services. Motivational Factors. Business environment is therefore, the total of all external forces, which affect the organization and the business operations (Kotler & Armstrong 2004). Various economic theories use fundamental economic factors to explain why countries trade and how trade patterns evolve. It is obtained by dividing the countrys national income by its population. Physical factors that affect population density include water supply, climate, relief (shape of the land), vegetation, soils and availability of natural resources and energy. Sustainability of Development. And this consistency will lead to increased industrialization. Download Download PDF. The physical factors that determine the use of land are topography, climate and soil types. a) Natural Resources : One important factor that influences economic development of a country is the natural resources. Human factors that affect population density include social, political and economic factors. Affected individuals fall into three groups: (1) people involved directly in agricultural food production (e.g., farmers); (2) people involved in the rest of the food system (e.g., processing, manufacturing, food service, and retailing); and (3) consumers. In CBSE Notes Class 10 Economics Chapter 1, you will make a beginning in understanding the topic Development.

1.7M people helped. This Paper. Therefore employment is also an indicator of economic development. Ace. The quantity and quality of natural resources play a vital role in the economic development of a country. Social and economic variables, known as socioeconomic factors, intersect and influence quality of life. Natural resources include the resources produced by nature on land or underground. Economic Development Textbook. Second, there is the literature on ethnic diversity and growth and development. Socio-Economic Class . Resources on land include vegetation, aquaculture and terrain. Medium. For example, what are the social and economic impacts of transportation changes brought about by global warming? The determinants of economic growth are inter-related factors influencing the growth rate of an economy. of high inequality), and economic development. Economic development of an industry is also influenced by the confidence of general people on the industry, the economic state of a nation, and involvement of government in the industry. A. health status of the people. 1. Education . 1. - The other ways of measuring the development of economy is to measure per capita income, total income of the country, the extent of import/export, the gdp (gross domestic produce) and the fiscal deficit. To a large extent, factors such as where we live, the state of our environment, genetics, our income and education level, and our relationships with friends and family all have considerable impacts heart outlined. For instance, according to the World Bank, Costa Rica is one level lower than the US in terms of development. Important natural resources are land, minerals and oil resources, water, forests, climate, etc. The quality of human resource is dependent on its skills, creative abilities, training, and education. Refers to increase in a countrys capacity to serve the economic interests of its citizens and overcoming economic problems. Question 3. View solution > A country which possesses the characteristics of a modern technology is called _____. Economic development of a country can be determined by _____. Answer: Economic development depends upon exports of that country, now a days also depends upon the technology introduced by that country and also depends upon how much the native of that country and other countries has invested in that particular country. Therefore, the monthly unemployment rate report is one economic leading indicator that gives clues to demand for consumer goods. Social factors include health of the locals, public hospitality, and social development in terms of literacy. "Gross" means that all production is evaluated regardless of its goals. (a) it is rich in humus. The Organization for Economic Cooperation and Development, Chinese Economic Performance in the Long Run, 960-2030, by Angus Maddison, 2007. Canada (7.278) 10. It can be referred to as per students convenience on their laptop and android devices and study whenever they want. However, these can be overcome with human ingenuity. Objective: To determine if functional health literacy (FHL) mediates the relationship between socio-economic status, and perception of the risk of lifestyle behaviors for cancer. Askar Adika. It can be indicated by national income & per capita income. First, the community or neighborhood should be the focal point for developing human, social, and physical resources. Limited financial resources with a lack of education can diminish social opportunities and restrict upward mobility. Resources on land include vegetation, aquaculture and terrain. These include economic, social, legal, technological and political factors. Differences in the economic growth rate of nations often come down to differences in inputs (factors of production) and differences in TFPthe productivity of labor and capital resources. The theory of economic Austria (7.246) As the list shows, most of the countries in the top 10 are located in Europe, 80% to be exact. The red soil is red in colour because. Marxism also believe in class struggles as the basis of social development. Fiscal policy; 3. Culturally determined characteristics include: the language spoken at home; religious observances; customs (including marriage customs that often accompany

which factors determine a country's economic development class 10