Economics Chapter 1: Development

A complete set of practice flashcards for students to review developmental indicators, economic definitions, and comparative global statistics as presented in the lecture notes.

What overall goal does development involve according to the text?

Thinking about essential requirements for life, ways to improve life for all, how people live together, and achieving more equality.

Why can the developmental goals of different people be conflicting?

Because what may be development for one person may be destructive for another, such as industrialists wanting dams for electricity while tribals lose their land to submergence.

What are some non-material things people seek besides higher income?

Equal treatment, freedom, security, respect of others, and an absence of discrimination.

What is the common method for measuring development, and what is its main limitation?

Income is the most common method, but it is inadequate because it does not measure the quality of life or environmental sustainability.

How is the average income (per capita income) of a country calculated?

It is the total income of the country divided by its total population.

According to the World Bank's World Development Reports of $2024$, what is the per capita income threshold for a country to be considered high income?

$\text{US\$ } 66,500$ per annum and above.

What per capita income level classifies a country as a low-income country according to the World Bank?

$\text{US\$ } 2,300$ or less.

In what category was India classified in $2024$ based on its per capita income of about $\text{US\$ } 11,000$ per annum?

Low middle income countries.

Define Infant Mortality Rate (IMR).

The number of children that die before the age of one year as a proportion of $1,000$ live children born in that particular year.

What does the Literacy Rate measure?

The proportion of literate population in the $7$-and-above age group.

Define the Net Attendance Ratio for the secondary stage.

The total number of children of age group of $15$-$17$ years attending school as a percentage of the total number of children in the same age group.

Which three indicators are used by the UNDP's Human Development Report to compare countries?

Educational levels, health status, and per capita income.

According to Table 1.3, which state had the highest per capita income for $2023$–$24$: Haryana, Kerala, or Bihar?

Haryana ($\text{Rs } 3,25,759$).

According to Table 1.4, which state had the lowest Infant Mortality Rate in $2020$?

Kerala ($6$ per $1,000$ live births).

What is the definition of Life Expectancy at birth?

The average expected length of life of a person at the time of birth.

What was India's HDI rank in the world for $2021$-$22$ based on the Human Development Report $2025$?

$130$ out of $193$ countries.

How is the Body Mass Index (BMI) calculated?

$$\frac{\text{weight in kg}}{(\text{height in m})^2}$$

What is the status of groundwater reserves in India according to recent evidence?

It is under serious threat of overuse, with about $300$ districts reporting a water level decline of over $4$ metres during the past $20$ years.

Why is crude oil considered a non-renewable resource?

Because it gets exhausted after a few years of use and has a fixed stock on earth that cannot be replenished.