GR 10 ECONOMICS chp-1 NOTES
GR 10 ECONOMICS chp-1 NOTES
CHAPTER-1 DEVELOPMENT
I. IMPORTANT TERMS:
1. Development -It means more income and for higher income people
need regular work, better wages and reasonable and fair prices for
their products and services.
2. National Development: It means an increase in per capita income
and also self-sufficiency of an economy.
3. Economic Development – It is a process whereby the national
income and the percapita income of a country rises and along with this
the number of people living in poverty falls, more employment
opportunities are created and standard of living among the poor
section of society improves.
4. National Income – It is the sum total of all final goods and services
produced in a country during a given period of time plus net factor
income from abroad.
5. Per Capita Income - Average income of a person of a country.
Percapita income= Total income / Population
6. Infant Mortality Rate – The number of children that die before the
age of one year per thousand live births in a particular area.
7. Literacy Rate – Proportion of literate population in the seven and
above age group.
8. Net Attendance Ratio – Total number of children of the age group 14
-15 years attending school as the percentage of total number of
children in the same age group.
9. Body Mass Index – It is the measure of body fat based on height and
weight that applies to adult men and women.
BMI= Weight in Kilogram/(Height in metre)2