Page 4 - Understanding Economics for Class 10

income anD other Goals
 Everyone wants a better life in relative terms to one another and for that we need more
income.
 People also seek things like equal treatment, freedom, security, and respect for others
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which are even more important than more income or more consumption because material
goods are not the only things that you need to live.
 There are many things that are not easily measured but they mean a lot to our lives like
friendship or so and these are not given equal importance.
 People consider a variety of goals when it comes to development. Hence, the goals that
people have are not only about more money but also about other significant aspects of life.

Let’s Work these out (Page No. 6)
1. Why do different persons have different notions of development? Which of the following
explanations is more important and why?
(i) Because people are different.
(ii) Because life situations of persons are different.
Ans. (ii) Different persons have different notions of development because life situations of
persons are different. Development goals of a girl from a rich urban family will be
surely different from a farmer in Rajasthan. It is because their situations, lifestyle,
and status are very different from each other. Over a period of time, if the situation
changes, automatically goals of a person will also change.

2. Do the following two statements mean the same? Justify your answer. (a) People have
different developmental goals. (b) People have conflicting developmental goals.
Ans. Yes, these two statements mean almost the same, as different persons could have different
as well as conflicting developmental goals, e g., in Gujarat, the government is in favour
of the Narmada Project, while the people who are adversely affected by the project/dam
are opposing this.

3. Give some examples where factors other than income are important aspects of our lives.
Ans. Though income is one of the most important aspects of our lives, there are other important
things, such as –
(i) People also seek things like equal treatment, freedom, security and respect.
(ii) Women need safe and secure environment to take up a variety of jobs or to run a business.
(iii) People also need political rights.
(iv) People seek a pollution-free environment

4. Explain some of the important ideas of the above section in your own words.
Ans. The above section is based on the income and the goals of the people. Here, besides
seeking more income, people sometimes seek things like equal treatment, freedom, respect
and security. People have important goals as above. The factor on which life depends is
money or income but the quality of our life depends on non-material things also.

national Development
 It is important to remember that different people may have varied and sometimes opposing
views on how a country should develop. A crucial aspect of national development is figuring
out the way which is more effective to achieve national objectives without harming the
individual objectives.
E-2 Economics Class X