Development 1

 DEVELOPMENT (ECONOMICS)

EXPLANATION POINTS

What is Development?

(i) Development is a comprehensive term which include increase in real per capita income, 

improvement in living standard of people, reduction in poverty, illiteracy, crime rate, etc.

Features: 

(a) Different persons have different developmental goals.

(b) Income is a major component of development 

(i) Four characteristics of development:

(i) Different people have different developmental goals.

(ii) What may be development for one may not be development for the other. It

may be destructive for the other.

(iii) Income is the most important component of development, but along with

income, people also seek equal treatment, good health, peace, literacy, etc.

(iv) For development, people look at mixed goals.