Economics Chapter 1 Development Class 10 Notes PDF for FREE (2024)

What Development Means - Different Goals for Different People

Development goals can vary widely among individuals. What one person views as progress may not be seen the same way by another, and could even be detrimental to someone else.

1. Introduction

• Developmental goals of any particular idea vary from person to person.

• Apart from personal development, we should definitely think of a country's development.

• Development is defined as the people’s economic growth, along with the growth of their basic needs like education, health, lifestyle, etc.

• The main aim of development is to update as per the demand of time.

• For example: to generate electricity, a dam is constructed over a river where nearby mass is considered for construction resulting in the development of society and country.

• It causes destruction for farmers and the lives of people living nearby.

2. Income and other goals

• Money is considered to be the basic need of people and to fulfill their daily requirements making money or income is very important.

• Money is required to buy materialistic things as well as freedom, security, treatment, respect to maintain a quality lifestyle.

• Hence, developmental goals are necessary to get a better income and other things in life.

3. National Development

• It is defined as a country’s ability to enhance the living standards of its residents.

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• For people, belief in nations' development is different.

• Improvement in people’s living standards, providing basic things to citizens like food, education, social service, medical aid, etc, and increase in per capita income, is referred to as National development.

4. How can you differentiate different countries or states?

• Income is a key feature to compare countries.

• Countries that have higher income are called developed countries and vice versa.

• The income of a country is about the income of the citizens of that country.

• National income: it is the sum of the total value of the country’s goods and services produced in a year. As every country has a different population rate, so National income cannot be considered to compare between different countries.

• Per capita income: it is also called average income, defined as a country's total earnings divided by the whole population. It shows the living standard of the citizens of the country.

• The average income of the country is the ratio of the overall income of the country to the overall population of the country.

5. Income and other criteria

• To achieve a goal, people earn more and want respect from others, the security of their lives, and freedom.

• If we consider per capita in the country’s development, then Goa is the most developed and Bihar is the least developed state in India.

• Net attendance ratio: defined as the total number of children, the age group from 14 years attending the school from the total percentage of children in the same age group.

• Literacy rate: it is the total number of people above 7 years who can write, read and understand. If the literacy rate is high, then the state is considered to be developed. Kerala has the highest literacy rate of 96.2% and Andhra Pradesh has the lowest literacy rate of 66.4%.

• Infant mortality rate: it is the total number of children that die in one year of age as a proportion of 1000 births in a year. It shows how efficient health facilities are in any country. Kerala has the lowest infant mortality rate, that is deaths per 1000 live births and Madhya Pradesh has the highest mortality rate that is 48 per 1000 live births in India.

Average Income is calculated by dividing a country’s total income by its total population. It’s also known as per capita income.

Average Income = Country’s total income/total population

World Development Reports use per capita income to classify countries.

In 2017, countries with a per capita income of US 12,056 or more were classified as rich countries. Conversely, countries with a per capita income of US 955 or less were considered low-income countries, such as India.

6. Human Development Index

• The United Nations Development Programme (UNDP) prepares this index, in which an annual report of human development is published every year.

• The major parameters include per capita income, literacy rate, and durability of a person’s life, which measure the countries’ development.

• Countries are marked as very high, high, medium, and low developed countries respectively.

• Apart from infant mortality rate, literacy rate, net attendance ratio; the BMI index also plays an important role.

7. Body mass index (BMI) is measured to measure the adults who are undernourished by calculating the weight of the person (kg) divided by the square of the height. If the value is less than 18.5, the person is undernourished and if it is more than 25, then the person is highly obese.

8. Public Facilities

• Public facilities play a major role in the development of the country.

• These are the facilities provided by the government like schools, transportation, electricity, hospitals, residences, community halls, etc.

• These facilities are important as we cannot purchase every major facility.

9. Sustainable Development

• It is the development that meets all needs of today’s generation.

• It is the development of a nation without affecting the environment.

• To achieve sustainable development, we should use non-renewable resources such as carbon-based fuel wisely.

Did you Know?

There are also Middle-Income Countries ( MICs ) which are having per capita between ＄ 1,036 and ＄ 12,535 and India lies in Low MICs having a per capita income of＄1820 in 2017.

5 Important Topics of Economics Class 10 Development Notes Chapter 1

Importance of Class 10th Economics Chapter 1 Notes

• Revision notes help us quickly understand and remember key concepts before exams.

• They save time by focusing on essential information and skipping unnecessary details.

• These notes simplify complex topics, making them easier to understand and use.

• They provide practical examples that show how theoretical knowledge is used in real-life situations.

• Revision notes ensure thorough preparation by covering all important topics in a structured manner.

• They increase confidence by clearly understanding what to expect in exams.

• Accessible formats like PDFs allow for easy studying anytime and anywhere.

Tips for Learning the Economics Chapter 1 Class 10 notes

• Learn and remember important terms like development, HDI, and indicators of development. Knowing these will help you grasp the main concepts.

• Study real-world examples of development to see how the concepts apply in different countries or situations. This makes the theory more relatable.

• Compare different indicators of development, like income versus health. Understand how these measures can show different aspects of a country’s progress.

• Connect the chapter’s concepts to current global development issues. For example, consider how recent news stories reflect development challenges or successes.

Conclusion

Vedantu’s Economics Chapter 1 Development Class 10 Notes provide a clear and comprehensive overview of the key concepts. They cover the definition of development, indicators used to measure it, and the Human Development Index (HDI). The notes also highlight the difference between economic growth and development, and emphasise the importance of sustainable development. By studying these notes, students can gain a solid understanding of how development is assessed and its impact on different countries. Use these notes to improve your knowledge and prepare effectively for your exams.

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