(i) Labourer (ii) Rich farmer (iii) Trader. Try refreshing the page, or contact customer support. Q.13. (iii) Enjoying a decent standard of living. True or false? Sustainable Development is that process of economic development which aims at maintaining the quality of life of both the present and the future generations without harming the natural resources and environment. Q.12. There are many economic as well as non economic factors which contribute to the human development. 5.72 percent B. ECONOMIC SUSTAINABILITY Sustainability focusses on equal economic growth, that generates wealth for all, without harming the environment. (iii) It is the process of enlarging people’s choices as well as raising the level of well¬being so that they can lead a purposeful and a creative life. The Sustainable Development Goals are a series of measures to end poverty, protect the planet and ensure the global well-being of human beings One of the major recent achievements in sustainability has been the adoption of Agenda 2030 and the Sustainable Development Goals. Ans. Economics of natural resource use (non-renewable resources such as oil, gas and metals as well as renewable resources such as fish and forests) Economics of sustainable development (including the measurement of sustainable development and the effect of economic growth on the environment) All these help in building a right kind of society. (ii) Literacy Rate measures the proportion of literate population in the 7 years and above age group. (iu) For development, people look at mixed goals. (v) Though Punjab has higher per capita income as compared to Kerala but it has been ranked lower on Human Development Index because it is far behind than Kerala in literacy rate and has higher infant mortality rate than Kerala. Though the national income and the per capita income are the indicators of human development, but it includes many other elements like consumption, health, environment, education, freedom, security, non-violent atmosphere, etc. They don't have to pay for the pollution, but society does by dirty air, water, and contaminated soil that affect the quality of our air, water, and food. Total assets were $100,000, of which $40,000 was financed by debt. flashcard set{{course.flashcardSetCoun > 1 ? 38. Describe any three features of developed country. just create an account. {{courseNav.course.topics.length}} chapters | Sciences, Culinary Arts and Personal The World Economic Forum is an independent international organization committed to improving the state of the world by engaging business, political, academic and other leaders of society to shape global, regional and industry agendas. Find out who sponsors economic development and … CBSE Class 10 Social Economics Understanding Economic Development SAQ. Q.9. Log in or sign up to add this lesson to a Custom Course. Select a subject to preview related courses: Another fatal flaw in the traditional economic argument is that it ignores the fact that you still need natural resources to produce the manufactured goods the traditional economists argue can replace natural resources. Economic sustainability is the term used to identify various strategies that make it possible to use available resources to their best advantage. (i) Development is a comprehensive term which include increase in real per capita income, improvement in living standard of people, reduction in poverty, illiteracy, crime rate, etc. (ii) Which is the new area of knowledge in which scientists, economists, philosophers and other social scientists are working together ? The higher cost of materials is passed on to developers. [CBSE 2013] (iii) What is ‘Public Distribution System ’ (PDS) ? Along with it also comes an idea of societal progress and … What is infant mortality rate ? Define the term, ‘average income.’ [CBSE 2008, 2009 (D)] [CBSE 2013, 14] (ii) It is concerned with the well-being of the people, their needs, choices and aspirations. The ecosystem provides the factors of production that fuels economic growth: land, natural resources, labor, and capital (which is created by labor and natural resources). A large majority of traditional economists don't believe sustainability is a problem. What is PCI ? 2. As a member, you'll also get unlimited access to over 83,000 (2) Measures to keep Infant Mortality Rate low : That is why, the World Bank uses Per Capita Income to compare economic development. (iii) When the total national income is divided by the total population, it is called the per capita income. Ans. (iii) Net Attendance Ratio is the total number of children of age group 6-10 years attending school as a percentage of the total number of children in the same age group. With the help of an example show two groups who may have different notions of development. (iv) Life Expectancy at birth : It denotes average expected length of life of a person at the time of birth. (1) The number of children that die before the age of one year per 1,000 children born alive in a particular year is called Infant Mortality Rate. The firm paid a dividend of $1,600. Ans. Services. Ans. What are the limitations of the per capita income criteria of development ? (iv) Money possessed by an individual even can not provide us a type of government which take decisions for the welfare of the common people. Ecological economists counter that this argument of traditional economists is flawed. [CBSE Sept. 2012] Log in here for access. All these are to be provided by the government/society. succeed. (ii) The World Bank has divided the countries into rich or low income countries on the basis of per Capita income. Anyone can earn A green economy is defined as low carbon, resource efficient and socially inclusive. What contributes to the human development ? (b) Quality education for the children. credit-by-exam regardless of age or education level. (iii) Average income is used to make economic policies. [CBSE Sept. 2010] Also, they argue that you still need natural resources to produce the very manufactured resources traditional economists claim can replace natural resources. Suggest two measures to keep the infant mortality rate low. - Definition, Theories & Indicators, Less-Developed Countries & Obstacles to Development, Cradle to Cradle: Definition, Summary & Design, What Is IPAT? (i) More wages means development for a worker, but it can go against the entrepreneur. | {{course.flashcardSetCount}} Humans live in an ecosystem and cannot survive without it. Issues such as how best to promote growth that is socially, environmentally and economically sustainable are increasingly at the centre of the international debate. Give four valid arguments to support your answer. Finally, these economists argue that the whole idea of growth needs to be reassessed to take into account the true cost and consequences of production, as well as whether the growth leads to well-being. Ans. Did you know… We have over 220 college to the citizens of the country. Ans. [CBSE 2012] (v) To have equality and enjoyment of human rights. ‘ (b) Income is a major component of development. Economic development, the process whereby simple, low-income national economies are transformed into modern industrial economies.Although the term is sometimes used as a synonym for economic growth, generally it is employed to describe a change in a country’s economy involving qualitative as well as quantitative improvements.The theory of economic development—how … Advantages of Self-Paced Distance Learning, Texas Native American Tribes: History & Culture, The Ransom of Red Chief: Theme, Conflict & Climax, Real Estate Agent & Broker Conduct in New Hampshire, Captain Beatty in Fahrenheit 451: Character Analysis & Quotes, Quiz & Worksheet - Irony in Orwell's 1984, Quiz & Worksheet - Impact of Density & Buoyancy on Plate Tectonics, Quiz & Worksheet - The Iliad Meaning & Purpose, Quiz & Worksheet - Homer's Portrayal of the Gods in The Iliad, Flashcards - Real Estate Marketing Basics, Flashcards - Promotional Marketing in Real Estate, What is Cooperative Learning? 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(ii) How can we achieve our hopes and possibilities in the present world ? (ii) Average income is used to classify the countries into rich, poor or developing nations. Additionally, markets do not account for the reality of externalities—the costs society bears but does not agree to do so. (i) Per capita income is the average income of a country. (iii) It is all about the enlarging or widening the choices for the people. Per Capita Income = National Income / Population, Q.2. The extraction and depletion of natural resources, as well as pollution and permanent changes made to the landscape, are caused by economic activities and can do harm to the environment. Earn Transferable Credit & Get your Degree, Sustainable Development: Definition, Obstacles & Impact, Environmental Sustainability: Definition and Application, Urban Sustainability: Definition & Issues, Cradle to Grave: Definition, Analysis & Approach, What is Economic Development? Despite its enormous popularity in the last two decades of the 20th century, the concept of sustainable development proved… Ans. Q.4. (iv) Enjoying basic fundamental rights like freedom, security, education, etc. The argument presupposes that technology will always find a solution, which is not necessarily the case. (i) As per the World Bank Report 2012 any country with per capita income of US$ 12,276 per annum and above is termed as rich or developed country. What is the firm's su, Chapter 4, #5 The most recent financial statements for Schenkel Co. are shown here: | Income Statement|Balance Sheet| | Sales$17,600|Current assets$10,700|Debt$15,200 |Costs12,000|Fixed assets25,750, A firm has a return on equity of 16 percent, a return on assets of 11 percent, and a 30 percent dividend payout ratio. What are some characteristic of a sustainable economy? In fact, our relentless pursuit of more stuff leads us to work harder, creates more stress, and can adversely affect our health and social interactions with friends and family. - Definition, Methods & Examples, The Gordon Growth Model: Formula & Examples, College Macroeconomics: Homework Help Resource, Biological and Biomedical ‘ Ans. Yashaswi kumar and more top educators are teaching live on Unacademy Plus. [CBSE 2008 (D)] The green economy is defined as economy that aims at making issues of reducing environmental risks and ecological scarcities, and that aims for sustainable development without degrading the environment.It is closely related with ecological economics, but has a more politically applied focus. - Definition & Principles, Quiz & Worksheet - Characteristics of Sustainable Economic Growth, Over 83,000 lessons in all major subjects, {{courseNav.course.mDynamicIntFields.lessonCount}}, Economic Growth: How to Raise a Nation's Potential Output, How Real GDP per Capita Affects the Standard of Living, Productivity: The Economy's Long-Run Growth Engine, Investment in Human Capital and Productivity, Physical Capital: Definition and Effects on Productivity, How Technology, Research & Development Affect Productivity, What is a Traditional Economy? (v) Which organisation measures HDR ? [CBSE 2009 (D)]  (i) Money or material things that one can buy with it is one factor on which our life depends. [CBSE 2010] (i) What is development ? - Definition, Theory & Impact, Incentive-Based Regulatory Approaches: Environmental Taxes & Tradable Permits, Sustainable Consumption: Definition and Complexities, What Is Economic Growth and Development? Ans. (ii) It has been published by UNDP and according to it countries has been ranked. Or There may be, and probably are, technological limits. They also point out that growth and well-being don't necessarily coincide. (ii) National income is defined as the total value of all the goods and services produced within a country plus net income coming from abroad. (ii) Provision of proper educational facility. Challenges to Sustainable Development (iv) Human development focuses on the expansion of basic choices. (i) Human development focuses on the people. (ii) Through Democratic political process. (b) Health status History . lessons in math, English, science, history, and more. (i) It is used to compare different countries. The firm paid a dividend of $1,800. But this may submerge the agricultural land, and disrupt the lives of the people. (ii) Sustainability of development. (i) Infant Mortality Rate (or IMR) indicates the number of children that die before the age of one year as a proportion of 1000 live children born in that particular year. - Forms & Definition, Price Stability in Monetary Policy: Definition & Overview, Sustainable Development within Environmental Limits, What is Economic Growth? Ans. and career path that can help you find the school that's right for you. What are the development goals of the following : Get the unbiased info you need to find the right school. The World Economic and Social Survey 2013 serves as a valuable resource as we look towards translating the outcome of Rio+20 into concrete actions. Ecological economists disagree and argue that the way price is measured in an economy doesn't reflect true costs. Q.5. They argue that price is not a good indicator of the need for sustainability. Uses : But the quality of our life also depends upon non-material things like equal treatment, freedom, security, respect of others, etc. (ii) Money cannot buy us a pollution free environment, unadulterated medicines, peace, etc. An economy functions in the ecosystem. (iii) Proper functioning of Public Distribution System. (i) Provision of basic health. (iii) It is a comprehensive approach which cover all the major aspects of life. In the case of a business operation, it calls for using resources so that the business continues to function over a number of years, while consistently returning … Q.17. The report, produced by a commission led by Doctor Gro Harlem Brundtland uses the term sustainable development as we understand it today for the first time. What is national development? We call a cost borne by someone who did not agree to bear it an externality. (i) HDI is used to measure level of development of a country. (i) Mention any two important aspects of our lives other than income. We cannot separate the economy from it. While many economists and people disagree about the importance of the environment regarding economic activity, the following facts are seldom disputed: 1. ‘Money cannot buy all the goods and services that one needs to live well.’ Explain. (iu) To get more electricity, the industrialists may want more dams. (iv) Apart from income, education, health status, life expectancy, etc., are considered for measuring economic development of a nation. Q.7. 3. (iii) Most of the people of these countries are engaged in service sector. True or False? The idea is to promote the use of those resources in a way that is both efficient and responsible, and likely to provide long-term benefits. Increased Costs. (ii) What may be development for one may not be development for the other. What is the firm?s su, The most recent financial statements for Schenkel Co. are shown here Assets and costs are proportional to sales. Give two main reasons for low IMR in Kerala. (iv) What is Sustainable Development ? (ii) Under this only those programmes and policies are implemented which would benefit a large number of people. Ans. Q.3. [CBSE Sept. 2010] However what is most important is to understand the connectedness of each of these areas. Sustainable economic growth is economic development that attempts to satisfy the needs of humans but in a manner that sustains natural resources and the environment for future generations. (O) 2008] (i) Per capita income, life expectancy at birth, literacy rate and other basic necessities like clean drinking water, sanitation etc. Ans. (iv) Why has Kerala a higher Human Development Index than Punjab in spite of low per capita income ? (ii) Such countries have high literacy rate. The company maintains a constant 40 percent dividend payout ra, Plank's Plants had net income of $3,000 on sales of $60,000 last year. In addition, students are like many consumers who do not take, or have, the time to understand these schemes and labels. (i) Under national development, a country uses its resources in a fair and just way. In a green economy, growth in employment and income are driven by public and private investment into such economic activities, infrastructure and assets that allow reduced carbon emissions and pollution, enhanced energy and resource efficiency, and prevention of the loss of biodiversity and ecosystem … What is the Difference Between Blended Learning & Distance Learning? (i) Living a long and a healthy life. Q.18. What is the meaning of ‘Infant Mortality Rate ’ (IMR) ? Sustainable economic growth is pursuit of economic development that attempts to fulfill the needs of people while maintaining natural resources in a sustainable manner, so they will be available for future generations. (Round to 2 decimal places). What is the significance of Human Development Index ? Q.8. We should consider not only growth but also what exactly is produced—and at what economic and environmental costs. Incorporated as a not-for-profit foundation in 1971, and headquartered in Geneva, Switzerland, the Forum is tied to no political, partisan or national interests. study - Factors of the Human Impact on the Environment, Supply-Side Economics in Fiscal and Monetary Policy, What Is Industrial Ecology? Mention any two features of development. In the name of economic development, the price of environmental damage is paid in the form of land degradation, soil erosion, air & water pollution, deforestation, etc. [CBSE Sept. 2011 ] [CBSE2009 (F) Sept. 2010] Developers pass it on to property owners, who pass it on to tenants. Q.6. [CBSE Sept. 2012] Sustainable Economic Development. To learn more, visit our Earning Credit Page. - Definition & Examples, What is Social Change? (iii) It is a system through which the Government distributes ration to the poor at a reasonable rate through the ration shops. In other words, having more stuff doesn't necessarily increase our well-being; it just gives us more stuff. WHAT ARE THE SUSTAINABLE DEVELOPMENT GOALS? (ii) What is national income ? (D) 2008] Q.1. A guidebook to the Green Economy Issue 1: Green Economy, Green Growth, and Low-Carbon Development – history, definitions and a guide to recent publications Division for Sustainable Development, UNDESA This document was prepared by Cameron Allen and Stuart Clouth, UN Division for Sustainable Development, August 2012 ‘Human development is the essence of social development.’ Explain. Supporters of sustainable economic growth argue that measurement of economic growth should be more nuanced. [CBSE Sept. 2011, 2012] Ans. The sustainable growth rate is the maximum growth rate achievable over an extended period of time. Ans. imaginable degree, area of (D) 2008, 2009 (F), Sept. 2011] What are the aspects covered under the national development ? Economy is defined as bringing about social change rate achievable over an extended of... Live in an economy does n't reflect true costs, an economy can not buy us pollution... 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