(a) Is crude oil essential for the development process in a country? Discuss.

(b) India has to import crude oil. What problems do you anticipate for the country looking at the above situation?

Development of a country can generally be determined by

1. its per capita income
2. its average literacy level
3. health status of its people
4. all the above

Assume there are four families in a country. The average per capita income of these families is Rs 5000. If the income of three families is Rs 4000, Rs 7000 and Rs 3000 respectively, what is the income of the fourth family?

1. Rs 7500
2. Rs 3000
3. Rs 2000
4. Rs 6000

What is the main criterion used by the World Bank in classifying different countries? What are the limitations of this criterion, if any?