CBSE Class 10 Social Science Economics Revision Notes Chapter 1

CBSE Class 10 Economics Chapter 1 Notes – Development

In CBSE Class 10 Economics Chapter 1, the students must learn about the various aspects of development. The NCERT books prescribed by the CBSE syllabus familiarise them with the important points of the chapter such as what development is, how to measure it, what sustainable development means and many other things. In higher classes, we study this concept in detail because it is crucial for us to know how the economy functions. 

Development Class 10 Notes Economics Chapter 1 

Access Class 10 Social Science (Economics) Chapter 1- Development Notes

Class 10 Social Science Economics Chapter 1 Development Revision Notes

Class 10 Economics Chapter 1 Notes are prepared by experts as per the latest CBSE syllabus. The revision notes are excellent for students to gain a better understanding of the concepts. These help to remember and revise topics, which in turn help students save time and energy during exams. Reviewing revision notes for the last-minute preparation before exams will help students retain information more quickly and score good marks.

Class 10 SST Economics Chapter 1

Class 10 Chapter 1 Economics Notes discuss the important points in the chapter. In this chapter, students will study the importance of development and its related terms. Class 10 Economics Notes Chapter 1 highlight the features of development, how the countries are categorised according to their income, the different connotations of development for people, why income is an important factor in the realm of development, the definition of sustainable development and more. 

What Development Promises? – Different People, Different Goals

Development is the economic growth of people along with the fulfilment of their needs, such as education, health and lifestyle. Society is made up of different people and all of them have different goals. For example, buying a tractor or new agricultural land can be said to be a development for a farmer but not for an employee. Therefore, different people can have different developmental goals.

Income & Other Goals

• Income is crucial because it allows people to meet their basic needs.
• Money is needed to purchase materialistic items.  Freedom, treatment and respect are essential to maintain a standard of living.
• Setting developmental goals plays an important role in improving the financial situation and other aspects of your life.

National Development

• It is described as a nation’s ability to raise the living standard of its citizens.
• People’s beliefs in national development can vary.
• National development is defined as raising the standard of living for people, providing citizens with necessities like food, education, social services and medical assistance as well as increasing the per capita income.

How to Compare Different Countries?

• Income is a key feature when it comes to comparing different countries. 
• Countries with higher income are called developed countries.
• The income of the citizens of the country is called the income of the country. 
• National income is the total value of the country’s products and services produced in a year. Since each country has a varied population density, national income cannot be used to compare different countries.
• Per capita income, also known as average income, is calculated by dividing the entire income of a nation by its total population. It shows the living standard of the country’s citizens.
• The ratio of the country’s total income to its total population represents the average income of the nation.

Other Criteria Besides Income

• To fulfil their goals, people earn more, seek respect from others and ensure the security of their lives and freedom. 
• If we measure a country’s development by per capita, Goa is India’s most developed state and Bihar is its least developed state. 
• The net attendance ratio is the ratio of the total number of children from 14 years attending school to the total percentage of children in the same age group.
• The literacy rate is defined as the total number of people above the age of 7 who can read, write and understand. 
• The infant mortality rate is the total number of children that die in one year to the proportion of 1000 births per year. It shows the efficiency of the health facilities in any country. 
• A yearly report on human development is released in the Human Development Index, which is created by the United Nations Development Programme (UNDP).
• The main parameters include per capita income, literacy rate and lifespan, which measure the countries’ development.
• Body Mass Index is measured to determine the number of undernourished adults. It is calculated by dividing the weight of the person by the square of the height. If the BMI is less than 18.5, the person is undernourished and if it is more than 25, the person is highly obese.

What are Public Facilities?

• Public facilities are crucial to the nation’s development.
• These encompass facilities the government provides such as schools, parks, transportation, electricity, hospitals and community halls. 
• These are important as we cannot purchase every major facility.

Sustainability of Development

• It is the development that meets all the requirements of the current generation.
• It is the development of a nation without jeopardising the natural resources or the environment. 
• To achieve it, we should use non-renewable resources such as carbon-based fuel wisely. 

Did You Know?

Some middle-income countries have a per capita income between $1036 and $12,535. According to research conducted in 2017, India lies in low MICs with a per capita income of $ 1820.

Chapter 1 Economics Class 10 Notes are designed according to the CBSE syllabus that students can refer to for preparing for board examinations. They can also go through CBSE revision notes for last-minute revision before exams. Class 10 Economics Notes Chapter 1 also contain formulas and important questions that students must practise to build a strong foundation in Economics for higher classes. All the necessary materials for preparation like CBSE sample papers, CBSE extra questions and CBSE past years’ question papers are available on the Extramarks website, which candidates can refer to study.