ECONOMICS
ECONOMIC GROWTH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Economic Standards
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Economic Growth
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Economic Development
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Economic Measurement
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Detailed explanation-1: -With this in mind, economic development is typically associated with improvements in a variety of areas or indicators (such as literacy rates, life expectancy, and poverty rates), that may be causes of economic development rather than consequences of specific economic development programs.
Detailed explanation-2: -Economic indicators include measures of macroeconomic performance (gross domestic product [GDP], consumption, investment, and international trade) and stability (central government budgets, prices, the money supply, and the balance of payments).
Detailed explanation-3: -The main social indicators of development include education, health, employment rates and gender equality.
Detailed explanation-4: -Economic and social indicators can be used to measure socioeconomic development of the society by having indicators such as GDP, GVA (gross value added), unemployment level, life expectancy, education level, crime and safety, and level of participation in civil society.
Detailed explanation-5: -Economic development is not so important for a country like India. Economic growth means increase in real national income. Economic development involves only economic growth. More items