Page 11 - Understanding Economics for Class 10

(b) Can there be development without overuse?
Ans. Yes, definitely development is possible without over use. This is what we know as
‘‘Sustainable development”. Sustainable development uses today resources judiciously,
so that the future generation too has their fair share of resources. Promoting sustainable
Goyal Brothers Prakashan
development can do lots to preserve ground water levels.

Example 2: Exhaustion of Natural Resources
Look at the following data for crude oil.
Reserves (2017) (Thousand Number of years
Region/Country
Million Barrels) Reserves will last
Middle East 808 70

United States of America 50 10.5
World 1697 50.2
Source: BP Statistical Review of World Energy, June 2018, P.12.
The table gives an estimate of reserves of crude oil (column1). More important, it also tells
us for how many years the stock of crude oil will last if people continue to extract it at the
present rate. The reserves would last only 50 years more. This is for the world as a whole.
However, different countries face different situations. Countries like India depend on importing
oil from abroad because they do not have enough stocks of their own. If prices of oil increase
this becomes a burden for everyone. There are countries like USA which have low reserves and
hence want to secure oil through military or economic power. The question of sustainability of
development raises many fundamentally new issues about the nature and process of development.
(i) Is crude oil essential for the development process in a country? Discuss.
Ans. Yes, Crude oil plays an important role in the development process in a country. It can
generate heat, drive machinery and fuel vehicles and airplanes. Its components are used
to manufacture almost all chemical products, such as plastics, detergents, paints and even
medicines.
(ii) India has to import crude oil. What problems do you anticipate for the country looking
at the above situation?
Ans. The future is bleak because the reserves of oil would last 53 years more. It is high time
to think collectively. It will be in favour of all.

EXERCISES

1. Development of a country can generally be determined by
(a) its per capita income (b) its average literacy level
(c) health status of its people (d) all the above
Ans. (iv) Development of a country can generally be determined by its per capita income, its average
literacy level, and the health status of its people.

2. Which of the following neighbouring countries has better performance in terms of human
development than India?
(a) Bangladesh (b) Sri Lanka
(c) Nepal (d) Pakistan
Ans. (b) Sri Lanka has better performance in terms of human development than India.

Economics Class X E-9