Q1: Define Economics Development.
Ans: Economics Development is a process in which real national income rises during the long period. If the rate of economic growth is greater than the rate of population growth, then real per capita income also rises.
Q2: write down the definition of Economic development by Professor Arthur Lewis.
Ans: Economic development implies both more output and changes in the technical and institutional arrangements by which it is produced and distributed.
Q3: What is a developing country?
Ans: A country having less per capita income than developed counties like U.S.A, Canada, U.K., Germany etc. But has natural resources and capabilities for economic development is known as developing country.
Q4: write four problems of developing countries.
Ans: 1) overpopulation 2) low per capita income 3) dependence on agriculture 4) shortage of capital
Q5: Write down the factors of economic development.
Ans: 1) Economic factors 2) Socio-cultural factors 3) Political factors
Q6: What is meant by the standard of living?
Ans: Standard of living is the level of income, comforts and services available, generally applied to a society or location, rather than to an individual.
Q7: What is economic planning?
Ans: By economic planning, we mean to chalk out such policies and programs which aim to take the economy towards economic prosperity through organized efforts.
Q8: What is the justification/objectives of economic planning in Pakistan?
1) Effective utilization resources. 2) Stability in prices 3) Planned measures for Agri-development 4) Increase in employment
Q9: Write down four problems of the Agriculture sector.
Ans: 1) Low per acre yield 2) Waterlogging and salinity 3) Lack of capital 4) Inadequate irrigation facilities
Q10: Give four suggestions to solve the problems of the Agri sector.
1) Moderna methods of cultivation. 2) Agri-loans and availability of finance 3) Availability of standard seeds and fertilizer 4) Better irrigation facilities
Q11: What are Waterlogging and salinity?
Ans: When the underground water level is up near the surface of the land or appears on land then it is called as waterlogging and when due to increase in water level there is an increase in the salt present in the ground and surface becomes white saltish it is called salinity.
Q12: Write down four problems of the industrial sector.
1) Lack of capital 2) Shortage of industrial raw material 3) Shortage of trained personal 4) Backward in-heritage
Q13: Give four suggestions to solve the problems of the Industrial sector.
Ans: 1) shortage of energy should be removed 2) Private sector should encourage 3) Establishment of financial institutions 4) Protection Policy
Q14: What is meant by protection policy?
Ans: In protection policy, the basic objective is to encourage domestic infant industry and protect them from foreign competition.
Q15: What are the methods of economic development measurement?
Ans: 1) Real national income method 2) Per Capita income method 3) Basic need method approach 4) Physical quality of life index
Q16: Point out four economic features influencing economic development.
Ans: 1) Natural Resources 2) Human Resources 3) Power Resources 4) Capital Formation
Q17: What is the importance of Agri-sector in Pakistan economy.?
1) Most important source to GDP 2) Supply of food items 3) 44% labour force depends upon it. 3) Supply of industrial raw material 4) Foreign exchange earnings by exporting agriproducts i.e. rice, cotton, leather etc.