Chapter 6 of 25
Concept Maps
Parameters Of Development — Concept Maps
ICSE · Class 11 · Economics
4 concept maps of Parameters Of Development for ICSE Class 11 Economics, each also written out as a text outline.
45 questions40 flashcards2 formulas & key relations5 concepts
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4 Concept Maps
Parameters of Development - Complete Overview
The map in words
- Parameters of Development
- National Income
- Definition
- Total production value
- Annual measure
- Types
- Nominal Income
- Current prices
- Can mislead
- Real Income
- Constant prices
- True measure
- Nominal Income
- Limitations
- Ignores distribution
- Ignores population
- Includes all goods
- Misses non-market activities
- Definition
- Per Capita Income
- Formula
- National Income divide Population
- Advantages
- Considers population
- International comparison
- Better than national income
- Limitations
- Distribution not shown
- Ignores output type
- Misses leisure value
- Ignores environment
- Formula
- Human Development Index
- Components
- Longevity
- Life expectancy
- Knowledge
- Education years
- Standard of Living
- Real GNI per capita
- Longevity
- Range
- 0 to 1 scale
- Higher is better
- Categories
- Very High 0.8 plus
- High 0.7 to 0.8
- Medium 0.55 to 0.7
- Low below 0.55
- Components
- National Income
Parameters of Development - Comprehensive Overview
The map in words
- Parameters of Development
- National Income
- Definition
- Total value of goods and services
- Measured in monetary terms per year
- Types
- Nominal National Income
- Current prices
- Affected by inflation
- Real National Income
- Constant prices
- True growth indicator
- Nominal National Income
- Limitations
- Income distribution not shown
- Non-market activities excluded
- Externalities ignored
- Exploitation not captured
- Definition
- Per Capita Income
- Formula
- NI divided by Population
- Advantages
- Considers population
- Allows international comparison
- Better than NI alone
- Limitations
- Distribution ignored
- Composition unclear
- Environmental cost not counted
- Leisure time ignored
- Formula
- Human Development Index
- Three Dimensions
- Longevity
- Life expectancy at birth
- Range 25-85 years
- Knowledge
- Mean years of schooling
- Expected years of schooling
- Standard of Living
- Real GNI per capita
- Purchasing power parity basis
- Longevity
- HDI Range
- 0 to 1.0
- Higher value better development
- Categories
- Very High above 0.8
- High 0.7 to 0.799
- Medium 0.55 to 0.699
- Low below 0.55
- Three Dimensions
- National Income
Parameters of Development - Complete Overview
The map in words
- Parameters of Development
- National Income
- Definition
- Total production value
- Annual measure
- Types
- Nominal Income
- Current prices
- Can mislead
- Real Income
- Constant prices
- True measure
- Nominal Income
- Limitations
- Ignores distribution
- Ignores population
- Includes all goods
- Misses non-market activities
- Definition
- Per Capita Income
- Formula
- National Income divide Population
- Advantages
- Considers population
- International comparison
- Better than national income
- Limitations
- Distribution not shown
- Ignores output type
- Misses leisure value
- Ignores environment
- Formula
- Human Development Index
- Components
- Longevity
- Life expectancy
- Knowledge
- Education years
- Standard of Living
- Real GNI per capita
- Longevity
- Range
- 0 to 1 scale
- Higher is better
- Categories
- Very High 0.8 plus
- High 0.7 to 0.8
- Medium 0.55 to 0.7
- Low below 0.55
- Components
- National Income
Economic development is measured through national income, per capita income, and Human Development Index
The map in words
- Economic development is measured through national income, per capita income, and Human Development Index
- Economic development
- National income
- Nominal national income
- Real national income
- Limitations of national income
- Per capita income
- Limitations of per capita income
- Human Development Index
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Explore DiagramsFrequently Asked Questions
What are the important topics in Parameters Of Development for ICSE Class 11 Economics?
Key topics in Parameters Of Development include Economic Development and Main Parameters, National Income as an Index of Development, Nominal National Income and Real National Income, Why National Income Alone Is Not a Good Welfare Measure. Study these first, then practise questions on each for Class 11 exams.
What do the concept maps for Parameters Of Development show?
The 4 maps show how the ideas in Parameters Of Development connect: Parameters of Development - Complete Overview; Parameters of Development - Comprehensive Overview. Each map is also written out as an outline on this page.
How should I revise Parameters Of Development for Class 11 exams?
Learn the core ideas first, then work through the 45 practice questions on Parameters Of Development. Revise definitions regularly and use flashcards for quick recall before the exam.
Sources & Official References
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Practice Quiz
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Important Questions
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Revision Notes
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Formula Sheet
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Chapter Summary
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Study Plan
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Flashcards
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Syllabus
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