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12th Economics Lesson 9 Questions in English
9] Economics of Development and Planning
1. Who among the following stated this:
“Plan your work for today and every day, then work your plan.”
a) Margaret Thatcher
b) Magnus Carlson
c) Mahatma Gandhi
d) Motilal Nehru
Explanation
A good plan may fail due to faulty implementation. But a faulty plan cannot succeed through good
implementation. “Plan your work for today and every day, then work your plan.”
-Margaret Thatcher
2. Which of the following statement is correct?
1) The concept "development" refers to the structural changes towards betterment.
2) The Under Developed Countries (UDCs) were once the colonies of England and other
European countries
3) After the Second World War, economists started devoting their attention towards analyzing
the problems of underdeveloped countries and formulating theories and models of
development and growth
a) 1, 2
b) 1, 3
c) 2, 3
d) All the above
Explanation
The concept "development" refers to the structural changes towards betterment. Until the World
War II, interest was rarely shown on the problems of the present day third World Countries. After
the Second World War, economists started devoting their attention towards analyzing the problems
of underdeveloped countries and formulating theories and models of development and growth. The
Under Developed Countries (UDCs) were once the colonies of England and other European
countries. After becoming free and independent, there was an awakening to march towards
economic development.
3. How many approaches are there to the concept of development?
a) 4
b) 2
c) 3
d) 1
Explanation
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There are two main approaches to the concept of development viz i) the traditional approach and
ii) the new welfare-oriented approach.
4. Which of the following statement about Traditional Approach is correct?
1) The traditional approach defines development strictly in economic terms.
2) It emphasizes the importance of industrialization.
3) The increase in GNP is accompanied by decline in share of agriculture in output and
employment while those of manufacturing and service sectors increase
a) 1, 2
b) 1, 3
c) 2, 3
d) All the above
Explanation
The traditional approach defines development strictly in economic terms. The increase in GNP is
accompanied by decline in share of agriculture in output and employment while those of
manufacturing and service sectors increase. It emphasizes the importance of industrialization. It
was assumed that growth in GNP per capita would trickle down to people at the bottom.
5. What was the slogan during 1970s New Welfare oriented Approach?
a) Arise awake
b) Country is for countrymen only
c) Redistribution with Growth
d) Unemployment
Explanation
During 1970s, economic development was redefined in terms of reduction of poverty, ‘inequality’
and unemployment within the context of a growing economy. In this phase, ‘Redistribution with
Growth’ became the popular slogan. To quote Michael P. Todaro, “Development must, therefore, be
conceived as a multidimensional process involving major changes in social structures, popular
attitudes and national institutions as well as the acceleration of growth, the reduction of inequality
and the eradication of absolute poverty”
6. Which of the following are predominant in underdeveloped countries?
1) Agriculture
2) wide inequality in distribution of income and wealth
3) low population
4) low rate of capital formation
a) 1, 3, 4
b) 2, 3, 4
c) 1, 2, 4
d) All the above
Explanation
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The UDCs are characterized by predominance of primary sector i.e. agriculture, low per capita
income, widespread poverty, wide inequality in distribution of income and wealth, over population,
low rate of capital formation, high rate of unemployment, technological backwardness, dualism
etc.
7. According to World development report GNI Per Capita of low-income countries?
a) $906 And below
b) $11, 115 and below
c) $11, 115 and above
d) $906 And above
Explanation
8. Which of the following are the state of economy of under-developed countries?
1) very low levels of Per-capita income
2) High levels of productivity
3) high growth rate of population
a) 1, 2
b) 1, 3
c) 2, 3
d) All the above
Explanation
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The term underdevelopment refers to that state of an economy where levels of living of masses are
extremely low due to very low levels of Per-capita income, resulting from low levels of productivity
and high growth rate of population.
9. Economic growth refers to________ countries
a) Developed countries
b) Developing countries
c) Under- developed countries
d) None
Explanation
Generally speaking, economic development refers to the problems of underdeveloped countries
and economic growth to those of developed countries.
10. Which of the following statement is correct?
1) Development is a discontinuous and spontaneous change while growth is a gradual and
steady change in the long run.
2) Growth simply means more output. But development refers to efficiency in production i.e.
output per unit of input
3) It also implies changes in composition of output and in allocation of resources, reduction of
poverty, inequality and unemployment.
a) 1, 2
b) 1, 3
c) 2, 3
d) All the above
Explanation
Development is a discontinuous and spontaneous change while growth is a gradual and steady
change in the long run. Growth simply means more output. But development refers to efficiency in
production i.e. output per unit of input. It also implies changes in composition of output and in
allocation of resources, reduction of poverty, inequality and unemployment. Economic
development (wider concept than economic growth) is taken to mean growth plus structural
change.
11. Which of the following are the features of Economic growth?
1) Wider concept
2) Change is gradual and steady
3) Concerns Quantitative aspects
a) 1, 2
b) 1, 3
c) 2, 3
d) All the above
Explanation
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