CBSE Questions for Class 10 Economics Development Quiz 1 - MCQExams.com

• Economic development of a region depends on technological advancement, needs and aspirations of the people and availability of resources. 

• Economic growth alone doesn't ensure economic development in a country.

• Agriculture plays a vital role in India’s economy.
  
• Nearly 60% of Indian population depends on agriculture.
  
• Agriculture contributes nearly 14% of GDP.
  

• UK, Japan, and Singapore are developed economies. They have high per capita income.
  
• South Africa is a 'Developing Country' with low-income levels.
  
• South Africa is the 2nd largest economy in Africa after Nigeria.

Besides seeking more income, one- way or the other, people also seek things like equal treatment, freedom, security, and respect of others. They resent discrimination. All these are important goals. 

• National Income is the income earned within a country during a year.It is measured using product method , expenditure method or income method. 
• It includes payments to all factors in the form of rent,wages,interest and profit.

• Per capita income is the main criterion used by the World Bank in classifying different countries.
• Per capita income is the total income of the country divided by the number of people in that country.

• GNP is the market value of all goods and services produced and sold in a given year.
• GNP = Value of (Consumer goods and Services + Capital goods + Goods and services by the Government) 
  

The World Development Report 2006  was brought out by the World Development Bank. The criterion used for the measurement of development was per-capita income. Accordingly, the countries were classified as low income or rich countries. The rich countries, excluding some, were generally known as developed countries. The countries with 10066 dollars p.a. and above are called developed countries.

Thus, the correct answer is A.

HDI refers to Human Development Index. It is an important component in Human Development Report. The prefix “Human” added to the word Development depicts that it is the health and well-being of the people which is important in the development. As per 2010 records,  HDI ranks have been depicted among 187 countries. According to the data, HDI rank of Sri Lanka is 91 among 187 countries.

Thus the correct answer is C.

• Kerala despite having low per capita income has better performance in terms of Human Development.
  

• Nepal per capita Income  is 1450 US$
• India per capita income is 3139 US$
• Bangladesh per capita income is 1870 US$
• Sri Lanka per capita income is 4389 US$

Although, the average income is an important attribute or criterion in the measurement of development and welfare of the society. However, the overall welfare of society depends on many other factors too. The general level of literacy is, thus, a key criterion. 

Literacy rate calculates the rate of Literacy in the children of 7 and above age group. Moreover, well-being or health status affects the development of a society and its welfare.

Thus, the correct answer is D.

• Per capita income is the total income of the country divided by the number of people in that country
• Per capita income is the main criterion used by the World Bank in classifying different countries

• Kerala stands first in terms of regional development in India.