Important Questions for Class 12 Economics Development Experiences India & Neighbours

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Important Questions for Class 12 Economics Development Experiences India & Neighbours. myCBSEguide has just released Chapter Wise Question Answers for class 12 Economics. There chapter wise Practice Questions with complete solutions are available for download in myCBSEguide website and mobile app. These test papers with solution are prepared by our team of expert teachers who are teaching grade in CBSE schools for years. There are around 4-5 set of solved Economics Test Papers from each and every chapter. The students will not miss any concept in these Chapter wise question that are specially designed to tackle Board Exam. We have taken care of every single concept given in CBSE Class 12 Economics syllabus and questions are framed as per the latest marking scheme and blue print issued by CBSE for class 12.

CBSE Class 12 Economics Extra Questions

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Extra Questions for Class 12 Economics

1. Which of the following country has highest density of population per square km?
   1. None.
   2. Pakistan
   3. India
   4. China
2. China’s HDI rank in the world is ____
   1. 81
   2. 78
   3. 80
   4. 799
3. For meaningful comparison common price level base is used because
   1. Domestic price is differ in different countries
   2. 100 GDP of one country is not same as 100 GDP of other country
   3. Both
   4. None
4. Human Development Index measures ______ in an economy.
   1. birth rate
   2. death rate
   3. quality of life
   4. quality of education
5. Why did India and Pakistan introduce reforms?
6. What was common in the development strategy of India, China and Pakistan during 1950-1990?
7. When was the Great Proletarian Cultural Revolution introduced in China?
8. Mention feature of China’s economy.
9. What is the important implication of the ‘one child norm’ in China?
10. Suggest some lessons that India can learn from China.
11. China’s rapid industrial growth can be traced back to its reforms in 1978. Do you agree? Elucidate.
12. How will you prove that human development is more progressed in China than in India or Pakistan?
13. Critically appraise the development strategies of Pakistan.
14. Scholars find son preference as a common phenomenon in many developing countries including India, China and Pakistan. Do you find this phenomenon in your family and neighborhood ? Why do people practice discrimination between male and female children? What do you think?

Development Experiences India & Neighbours

Answer

1. 3. India
      Explanation: As per 2000-01 estimates.

      Country	Population Density(per sq.km)
      India	358
      Pakistan	138
      China	193

2. 1. 81
      Explanation: “The HDI is the actual level of human development (accounting for inequality)” and “the HDI can be viewed as an index of “potential” human development (or the maximum IHDI that could be achieved if there were no inequality)”.
3. 3. Both
      Explanation: A price level is the average of current prices across the entire spectrum of goods and services produced in the economy. In a more general sense, price level refers to any static picture of the price of a given good, service or tradable security. Price levels may be expressed in small ranges, such as ticks with securities prices, or presented as a discrete value.
4. 3. (c) quality of life
      Explanation: The Human Development Index (HDI) is a statistic composite index of life expectancy, education, and per capita income indicators, which are used to rank countries into four tiers of human development.
5. India and Pakistan introduced economic reforms under the pressure of the World Bank and IMF. Moreover, the economic crisis that emerged in the two countries leads to the introduction of reforms.
6. Five Year Plans i. e., economic planning was common in the development strategy of India, China and Pakistan during 1950-1990.
7. In August 1966, in the meeting of the Communist Party of China (CPC) Central Committee, Mao launched the Great Proletarian Cultural Revolution.
8. In China, there was command system. It has recently started moving towards a liberal restructuring. One of the most characteristic features of China’s economy today is it’s heavy reliance on export driven growth and its addiction to collecting US dollars.
9. The one child norm introduced in China in the late 1970s has been the major reason for low population growth. This measure led to a decline in the sex ratio defined as the proportion of females per 1000 males.The important implications of the ‘one child norm’ are:
   1. Low population growth.
   2. Decline in the sex ratio.
   3. After a few decades, there will be more elderly people in proportion to young people.
   4. In the long run, China will have to provide more social security measures with fewer workers.
10. India can learn following lessons from China:
    1. India can learn from China as to how to grow so that agriculture is not neglected.
    2. Effective planning and its implementation can be big lesson for India.
    3. India also need to assure job security and employment to one and all.
    4. India can also adopt ‘one child norm’ for controlling its population.
    5. India can learn how anti-corruption activities are carried out by China government.
11. Yes, it cannot be denied that China’s rapid industrial growth is an aggregate outcome of the various economic reforms that were introduced in phases since 1978. In the initial phase, reforms were initiated in agriculture, foreign trade and investment sectors. The system of collective farming known as Commune System was implemented. In the later phase, reforms were initiated in the industrial sector. During this phase, the private firms and village and township enterprises were allowed to produce goods and services and to compete with the State Owned Enterprises. The reforms also included dual pricing. The dual pricing implies that the farmers and the industrial units were required to buy and sell a fixed quantity of inputs and output at the price fixed by the government and the remaining quantities were traded at the market price. As a result, the quantities traded in the market increased by many folds. The reforms also included setting up of Special Economic Zones to attract foreign investors. Therefore, China’s rapid industrial growth is attributable to the success of different phases of its economic reforms.
12. The Chinese reform process began more strongly and comprehensively during the 1980s. At this time, India was in the mid-stream of a rather slow growth process. By then, the rural poverty in China was declining by 85% during the period from 1978 to 1989. In India, at this time, it was declining by only 50%. Moreover, the global exposure to the Chinese economy has been far wider than the Indian economy. Also, China’s export-driven manufacturing has been the reason for exponential growth. And India continues to be only a marginal player in the international markets.
13. The development strategies of Pakistan are summarised below:
    • Mixed Economy Pakistan follows a mixed economy system where both the public and private sectors co-existed.
    • Import Substitution Pakistan adopted a regulatory policy framework in the late 1950s and 1960s for import industrialisation. The -policy combined tariff protection for manufacturing of consumer goods together with direct import controls on competing imports.
    • Green Revolution This was introduced to increase productivity and self-sufficiency in food. This increased the output of foodgrains. This had changed the agrarian structure dramatically. In 1970’s nationalisation of capital goods took place. Pakistan shifted its policy orientation in 1970’s and 1980’s when the private sector got encouragement.

    During this period, Pakistan received financial support from Western. This helped the country in stimulating economic growth. The government also offered incentives to the private sector. This had a created climate for new investments. And in 1988 certain reforms were also initiated in the country.

14. It is a harsh reality of 21st century countries that they prefer male child to a female. It has been seen by me even in my surroundings. People practice discrimination between male and female child due to following reasons:
    1. Insecurity for the females: Crimes against women are on a rise. Parents find it a headache to look after their daughters.
    2. Marriage and dowry system: In Indian society, daughters leave their parents’ house after marriage while sons leave with them and look after them in old age. Therefore they prefer a male child. Dowry is also to be given to sons on their marriage. So, they take sons as a lottery ticket and daughters as a burden.
    3. Religious Background: Even if religious scriptures are read, they promote an idea that males are superior to females.

    In my opinion, we must not repeat mistakes of our ancestors. We must accept that gender is a biological difference and not something which should determine social norms. I do not want girls to behave like boys to prove their supremacy but they must be respected equally in whatever role they play in their lives. Instead of laws, it is education in the right sense that can bring a change.

Chapter Wise Practice Test for Class 12 Economics

1. National Income and Related Aggregates
2. Money and Banking
3. Determination of Income and Employment
4. Government Budget and the Economy
5. Balance of Payments & Foreign Exchange
6. Indian Economy on the Eve of Independence
7. Indian Economy 1950-90
8. Economic Reforms Since 1991
9. Poverty
10. Human Capital Formation in India
11. Rural Development
12. Employment Growth Informational and other Issues
13. Infrastructure
14. Environment Sustainable Development
15. Development Experiences India & Neighbours

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