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NIOS Free Solved Assignments (2020 - 2021) | ECONOMICS 318 | ENGLISH MEDIUM TMA SENIOR SECONDARY

Session 2020-21

SENIOR SECONDARY (Economics 318)

Tutor Marked Assignment (TMA)

Note:

(i) All questions are compulsary. The marks allotted for each question are beside the questions.

(ii) Write your name enrollment numbers, AI name subject on the top of the first page of the answer sheet.

1. Answer any one of the following questions in about 40-60 words.

(a) Every economy in the world has its own characteristics by which it is known or identified as developed or developing economy. In the light of this statement explain the following features of Indian economy: (See Lesson 1)

1. Low level of per capital income and.

2. High level of capital formation.

Ans: 1. Low level of per capital income: Per capita income of Income is low but in present time it is improving. Per capita income is calculated by dividing national income with total population of the country. Per capita income of our country is Rs. 1, 35,050 for the year 2019 – 20. The main reason behind low per capita income is the high population of our country.

2. High level of capital formation: At the time of independence, one of the major problems of Indian economy was deficiency in capital stock in the form of land and building, machinery and equipment, saving etc. In order to continue the cycle of economic activities such as production and consumption, a certain ratio of production must go towards saving and investment. However, the required ratio was never generated in the first four to five decades after independence. The simple reason being higher consumption of necessary items by the population of whom most happened to be poor and lower middle income class. Collective household saving was very less due to this.

(b) "Economics is all about making smart choices to achieve growth and development in the country". In the light of this statement, distinguish between economic growth and economic development. (See Lesson 3)

Ans: Economics is all about making smart choices to cope with scarcity. The fundamental measures used to evaluate the success in allocating the scarce resources are economic growth and economic development. But the measures are different.

Economic Growth implies a process of increase in National Income and Per-Capita Income. The increase in Per-Capita income is the better measure of Economic Growth since it reflects increase in the improvement of living standards of masses.

Economic development is a wider concept than economic growth. Apart from growth of national income, it includes changes – social, cultural, political as well as economic which contribute to material progress. It contains changes in resource supplies, in the rate of capital formation, in size and composition of population, in technology, skills and efficiency, in institutional and organizational set-up.

2. Answer any one of the following questions in about 40 to 60 words.

(a) Sustainable development can be defined as development that meets the needs of the present without compromising the ability of future generations to meet their own needs. Keeping this statement in view explain the importance of sustainable development. (See Lesson 3)

Ans: Sustainable development is development that meets the needs of the present without compromising the ability of future generations to meet their own needs. Sustainable development includes the protection of future economic growth and future development. It is necessary due to the following reasons:

a)      Preservation of Ecological Resources and greater use of renewable resources.

b)      Encouragement to the use of eco-friendly technologies in development process.

c)       Formulation and implementation of policy framework for people-security and human justice.

(b) "Education is an important factor in determining the employability of any person. However sometimes even a highly educated person does not get an employment of her/his choice". Explain the concept of under employment in the light of given statement. (See Lesson 4)

Ans: Underemployment is a situation in which a person is employed but not in the desired capacity whether in terms of wages, hours or level of skill and experience. Underemployment is mainly caused due to high supply of labour or due to low level of education and skill of the labourers.

The present educational system has theoretical bias and has limited utility for productive purposes. It lacks the emphasis on the development of aptitude and technical qualifications required for various types of work among job seekers. This has created a mismatch between the need and availability of relevant skills and training, which results in under employment, especially of youth and educated while shortage of technical and specialized personnel continues.

3. Answer any one of the following questions in about 40 to 60 words.

(a) "Economic data is not very easy to understand and comprehend but with the help of statistics we can arrive at some logical value from such data". Enumerate main functions of statistics in the light of above statement. (See Lesson 5)

Ans: Economic data is difficult to understand but with the help of statistics, we can arrive at some logical value from such data. Statistics is a very important tool in the hands of economists. The functions of statistics are as follows:

(i) It presents fact in a definite form. Numerical expressions of data are convincing.

(ii) It simplifies mass of figures. The data presented in the form of table, graph or diagram, average or coefficients are simple to understand.

(iii) It facilitates comparison. Once the data are simplified they can be compared with other similar data.

(iv) It helps in prediction. Plans and policies of organisations are invariably formulated in advance at the time of their implementation.

(v) It helps in the formulation of suitable policies. Statistics provide the basic material for framing suitable policies.

(b) Statistical data can be systematically organized and presented in the form of tables, graphs and charts. One of such charts is a pie chart or diagram. Explain the steps involved in construction of pie chart. (See Lesson 7)

Ans: Pie Diagram: It is also known as angular diagram. Pie diagrams are more popularly used for presenting percentage breakdown of data. For example, students of a particular college may be put in three categories-Science students, Commerce students and Arts students. Steps in the construction of pie diagram:

Step 1: Find the value of each category or component or group as percentage of total of all categories or components or groups.

Step 2: Calculate degree of the angle formed by each category or component or group by the formula given below. Degree for a particular category/component/group = (Value of the group*Total of all groups)*3600

Step 3: Take a circle of a suitable size and draw radius.

Step 4: Now draw angles calculated in step 2 with the help of a protractor.

Step 5: Shade or colour different segments suitably or make the distinctions between different categories or components or groups.

Step 6: For each category or component or group put the percentage in the pie diagram

4. Answer any one of the following questions in about 100-150 words.

(a) "One way to collect data is to collect it directly from the respondent. Another way is to adopt the data already collected by someone else." Keeping this statement in mind explain the methods of collecting primary data. (See Lesson 6)

Ans: Statistical data are of two types – Primary data and secondary data. Primary data are those which are collected directly from the respondent and secondary data are those which are collected by someone else but used in investigation. Various methods are used to collect primary data. Some of the methods of collecting primary Data are listed below:

(a)  Direct Personal Observation: Under this method, the investigator collects the data personally from the persons concerned. The information obtained under this method is original in nature. This method is suitable when the field of enquiry is small.

(b) Indirect Oral Investigation: - Under this method, the investigator collects the data from third parties capable of supplying the necessary information. This method is suitable where the information to be obtained is of a complex nature and informants cannot be approached directly.

(c) Schedule and questionnaire: - A list of question regarding the enquiry is prepared and printed. Data are collected in any of the following ways:-

(i) By sending the questionnaire to the persons concerned with a request to answer the question and return the questionnaire.

(ii) By sending the questionnaire through enumerators for helping the informants.

(d) Local reports: - This method gives only approximate results at a low cost.

(b) "By comparing the per capita income of India and the United States, we can say that India is a developing economy while United States is a developed economy". Such comparisons are possible only with help of statistical analysis of economic data. Explain the importance of statistics in economics focusing on the given statement. (See Lesson 5)

Ans: There are number of economic laws which have evolved due to statistical analysis in the field of economics. Statistics helps in comparison of data of country with another country. Economic importances of statistics are listed below:

(a) Statistics and the study of consumption: Every individual needs a certain number of things. He spends first on necessities, then on comforts and luxuries, which depend on his income. By comparing statistical of India and USA, we can see that majority of Indians are now spending on necessities and comforts but Americans being a citizen of developed country, spends more on luxuries.

(b) Statistics and the study of distribution: Statistics are helpful in calculation of national income in the field of distribution. Statistical methods are used in solving the problem of the distribution of national income. Various problems arise due to unequal distribution of wealth and national income and are solved with the help of statistical data. Statistical data helps in comparing per capita income of two country e.g., comparison of per capita income of Indians and Americans.

5. Answer any one of the following questions in about 100–150 words.

(a) It is often said that India is a land of villages where majority of its population resides in villages. But, in recent times there has been a shift of population from rural to urban areas. Also, there has been an occupational change from agriculture to industry. Keeping this in view explain the role of agriculture and industry in Indian economy. (See Lesson 1)

Ans: Role of agriculture in Indian Economy:

Agriculture is one of the most important sectors of Indian economy. It is the supplier of food and raw materials in the country. At the time of independence more than 70 per cent of India's population depended on agriculture to earn livelihood. Accordingly the share of agriculture in the national product/income was as high as 56.6 per cent in 1950-51. However with development of industries and service sector during the plan periods, the percentage of population depending on agriculture as well as the share of agriculture in the national product has come down. In 1960, the percentage of labour force engaged in agricultural activities was 74 which gradually came down over the years to 50 per cent in 2018.

Role of Industry in Indian Economy:

Industry or the secondary sector of the economy is another important area of economic activity. After independence, the government of India emphasized the role of industrialization in the country's economic development in the long run. Accordingly, the blue print for industrial development was made through the Industrial Policy Resolution (IPR) in 1956. The 1956 policy emphasized on establishment of heavy industries with public sector taking the lead in this area. Adoption of heavy or basic industries strategy was justified on the ground that it will reduce the burden on agriculture, enable growth in the production of consumer goods industries as well as small industries that are helpful for employment generation and achieving self reliance.

(b) Economic reforms, changes in the industrial policy and better utilization of available resources are expected to reduce the problem of unemployment and poverty in our country. In the light of this statement explain government policies and programmes implemented to alleviate poverty and to generate employment in the economy. (See Lesson 4)

Ans: Policies of Indian government to alleviate poverty and to generate employment:

1)      Acceleration of economic growth: The first & foremost measure needed to remove poverty is accelerating the rate of economic growth.

2)      Reducing inequalities of income: High growth rate with reduced inequalities of income helps in removing poverty.

3)      Population control: High growth rate of population is the prime cause of poverty. So, in order to remove poverty, it is very essential that population growth rate be checked.

4)      Agricultural development: Removal of mass poverty in rural areas is possible only when due emphasis is given for agricultural development.

5)      More employment opportunities: Poverty can be eliminated by providing more employment opportunities. So that people are able to meet their basic needs.

Also the following programmes are implemented by the Indian Government:

1)      Prime minister’s Rozgar Yojana (PMRY)

2)      Swarna Jayanthi Shahri Rozgar Yojana (SJSRY)

3)      Swarna Jayanthi Gram Swarozgar Yojana (SGSY)

4)      Sampoorna Grameen Rozgar Yojana (SGRY)

5)      National Rural Employment Guarantee Act 2005

6)      Pradhan Mantri Gramodaya Yojana (PMGY)

6. Prepare a project on any one of the following.

(a) Statistics is concerned with collection, presentation, analysis and interpretation of data but this data is mostly collected by the user and then presented in a meaningful manner. One of the ways to present data is through frequency distribution. Visit children in your neighbourhood and record the age of at least 30 of them and then construct a frequency distribution of both exclusive as well as inclusive types. (See Lesson 6)

Ans: Age of 30 students in my colony:

12

15

16

18

12

13

14

16

9

5

4

8

9

11

13

14

18

4

3

7

5

6

7

5

6

8

10

7

5

17

Frequency distribution table

Inclusive Series

Exclusive Series

Class interval

Tally marks

Frequency

Class interval

Tally marks

Frequency

0 – 4

5 – 9

10 – 14

15 – 19

|||

|||| |||||||

|||||||

|||||

3

13

8

6

0 – 5

5 – 10

10 – 15

15 - 20

|||

|||| |||||||

|||||||

|||||

3

13

8

6

(b) According to the United Nation's Development Programme (UNDP) human development may be defined as "a process of enlarging people's choices." Also, economic growth and human development go hand in hand. Is human development necessary for economic growth and economic development? If yes, highlight the importance of human development in the process of economic development. (See Lesson 3)

Ans: Importance of Human development in the process of economic development

According to the United Nation’s Development Programme (UNDP), human development may be defined as “a process of enlarging people’s choices.” At all levels of development, the three essential choices for people include to live a long and healthy life, to acquire better knowledge and to have access to resources needed for a decent standard of living. If these essential choices are not available, many other opportunities to improve the quality of life will remain inaccessible. Human development has two dimensions: acquiring human capabilities and the use of these acquired capabilities for productive, leisure and other purposes. The benefits of human development go far beyond the expansion of income and wealth accumulation because people constitute the very essence of human development.

Human development is about much more than economic growth. The economic growth focuses on the improvement of one option i.e. income or product while human development focus on enlarging all human options including education, health, clean environment and material well being. Thus, the options available for improving people’s lives are influenced by the quality of economic growth in its wider sense, and the impact is by no means confined to quantitative aspects of such growth. In other words, economic growth needs to be seen as a means, albeit an important one, and not the ultimate goal, of development. Income makes an important contribution to human well-being, broadly conceived, if its benefits are translated into more fulfilled human lives. But the growth of income is not an end in itself. It is the quality of growth, not its quantity alone, which is crucial for human well-being.

Thus, the concept of human development is concerned mainly with enabling people to enjoy a better life as the ultimate goal of human endeavor. Highlights that this goal cannot be achieved solely through improvements in income or material well-being. As the 1996 Human Development Report put it, growth can be jobless, rather than job creating; ruthless, rather than poverty-reducing; voiceless, rather than participatory; rootless, rather than culturally enshrined; and futureless, rather than environment-friendly. Economic growth which is jobless, ruthless, voiceless, rootless and futureless is not conducive to human development. The lack of income or income poverty is only one aspect of human impoverishment; deprivation can also occur in other areas– having a short and unhealthy life, being illiterate or not allowed to participate, feeling personal insecurity, etc. Human poverty is thus larger than income poverty.

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