CBSE Social Class 10 Economics Understanding Economic Development LAQ

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CBSE Social Class 10 Economics Understanding Economic Development LAQ

Q.1. Distinguish between developed and underdeveloped countries.

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Q.2. What is the main criterion used by the World Bank in classifying different countries ? What are the limitations of this criterion ? [CBSE Sept. 2010]
Or
Explain the meaning of the term ‘Rich Countries’ and ‘Low Income Countries’ according to the World Development Report of 2006. What is India’s position in this respect ? [CBSE 2013]
Ans. The World Development Report, 2012, brought out by the World Bank has given the following criteria in classifying countries :
(I) Rich or High income countries : Countries with the per capita income of US $12276 per annum and above in 2010, are called rich countries.
(ii) Poor or Low income countries: The countries with the per capita income of US $ 1005 or less, are called low income countries.
India comes in the category of low middle income countries because its per capita income in 2010 was just US $ 1340.4 per annum. The rich countries, excluding countries of Middle East and certain other small countries, are generally called the developed countries.
Limitations :
(i) It covers only the economic aspect ignoring peace, health, environment, education, longevity, etc.
(ii) The method does not provide us the distribution of income.

Q.3.Distinguish between human and economic development.
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