Indian Economy 1950-1990 — Economics STD 12 Humanities & Commerce — Question

1. State any one positive contribution made by the British in India.
2. Indicate the volume and direction of foreign trade of India at the time of Independence.

Explain any four problems of human capital formation in India.OR
What are the main problems of human capital formation in India?OR
Indian Government has been taking steps for human capital formation, yet human capital formation is facing problems. Explain such problems of human capital formation.

Distinguish between planning objectives and plan objectives on any four basis.

What, according to you, were the objectives of IPR-1956?

How can 'Wind power' and 'Biopest control' help to achieve sustainable development?

Why was there a need for reform of economic policy in 1990? Explain.

Explain the statement that green revolution enabled the government to procure sufficient food grains to build its stocks that could be used during times of shortage.

Read the passage given below and answer the following questions from 1 to 4.Human capital can be defined as the body of knowledge possessed by the population and the capacity of the population to use the knowledge effectively. Until the late 1950s, no economist and any other social scientist did pay much attention to the role of investment in human beings as an important determinant of economic development. The birth of this idea can be dated from the presidential address of Prof. Theodore W. Schultze to the American Economic Association in December 1960. As a result, the concept of human capital formation came to the limelight. A circular relationship between human development and economic growth has come to be established. Economic growth creates conditions for better health and education facilities; which in turn spur economic growth.

1. Human Capital Formation came into existence in:

1. 1950
2. 1960
3. 1970
4. 1980

2. Economists say that the main key player of economic development is:

1. Human capital
2. Physical Capital
3. Real Capital
4. None of these

3. In _ Five year Plan, India emphasized on human capital formation.

1. 2nd
2. 3rd
3. 5th
4. 7th

4. ________ means an improvement in the quality of life and living standards, e.g., measures of literacy, life expectancy, and health care.

1. Economic growth
2. Economic development
3. Investment
4. None of these

Highlight important features of the infrastructure sector.

Read the passage given below and answer the following questions from 1 to 4.
People spend to acquire information relating to the labour market and other markets like education and health. This information is necessary to make decisions w.r.t investment in human capital and its efficient utilisation. Thus, expenditure incurred for acquiring information relating to the labour market and other markets is also a source of human capital formation.

1. Which of the following is the source of human capital formation in India?

1. Health
2. Migration
3. Acquiring information
4. All of these

2. Education provides:

1. Private benefit
2. Social benefit
3. Both (a) and (b)
4. None of these

3. persons contribute more to the growth of an economy.

1. Ducated
2. Healthy
3. Both (a) and (b)
4. None of these

4. Training given by a company to its employees is generally__________?

1. Investment
2. Social wastage
3. Both (a) and (b)
4. None of these