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Consider the following statements 1. Economic growth is quantitative whereas Economic development is qualitative 2. Growth in the economy is measured by health, education and income measures whereas Development is measured by improvement in GDP. Select the incorrect option

Consider the following statements 1. Economic growth is quantitative whereas Economic development is qualitative 2. Growth in the economy is measured by health, education and income measures whereas Development is measured by improvement in GDP. Select the incorrect option Correct Answer 2 only

The right answer is 2 only

Key Points

  • Growth is quantitative. It can be positive or negative
  • Development is quantitative. It can not be negative. 
  • Development looks into the quality of life, the freedom enjoyed, health and education accessibility, etc. 
  • Growth is measured in terms of GDP, GNP etc
  • Development is measured by HDI which calculates birth rate, death rate, life expectancy, education, income levels etc.

 

Related Questions

The given statements state the differences between economic development and economic growth. Which of the following statement is correct?  I. Economic growth is single-dimensional whereas economic development is multi-dimensional. II. Economic growth is measurable, but economic development cannot be precisely measured. 
Consider the following statements about the GDP Deflator. 1. GDP deflator is the ratio of nominal GDP to real GDP. 2. GDP deflator indicates the change in the price level between the base year and the current year. 3. While calculating GDP deflator, the volume of production is considered as fixed. Which of statements given above is/are correct?
Which of the following statements are true/ false?
1. In the market economy, the prices are determined by the level of demand and supply in the market.
2. Mixed economy is an economic system in which both the private and public sector have equal roles to play.
3. Planned economy is also known as a centralised economy, controlled economy or command economy.
4. In the market economy, governments do not have much role to play.
In the following question, sentences of a paragraph have been jumbled and labelled as A, B, C, and D. You are required to rearrange the jumbled sentences of the paragraph and mark your response accordingly by selecting the correct option. A: Per capita income (PCI) or average income measures the average income earned per person in a given area (city, region, country, etc.) in a specified year. B: It is calculated by dividing the area's total income by its total population. C: Per capita income is national income divided by population size.  D: Per capita income is often used to measure a sector's average income and compare the wealth of different populations.
Given below are four jumbled sentences.Select the option that gives their correct order.  A.Rising income inequality makes it difficult for the poor to climb up the economic ladder and increases their risk of being victims to poverty trap  B.The growing income inequality in India has negatively impacted poor citizens' access to education and healthcare.  C.But a rise in national GDP is not indicative of income equality in the country.  D.India's economy continues to grow with its GDP rising faster than most nations. 
Read the passage carefully and choose the best answer to each question out of the four alternatives and click the button corresponding to it. In the world today we make health an end in itself. We have forgotten that health really means to enable a person to do his work and do it well. A lot of modern medicine, and this includes many patients as well as many physicians, pay very little attention to health but very much attention to those who imagine they are ill. Our great concern with health is shown by the medical columns in newspapers, the health articles in popular magazines and the popularity of television programmes and all those books on medicine. We talk about health all the time. Yet for the most part the only result is more people with imaginary illness. A healthy man should not be wasting time talking about health : he should be using health for work.
Talking about health all the time makes people
Which of the following statements is correct in regards to health and education cess?
1. Amount of income tax shall be increased by health and education cess.
2. Amount of income tax and surcharge shall be increased by health and education cess.
Select the correct answer:
Read the passage carefully and choose the best answer to each question out of the four alternatives and click the button corresponding to it. In the world today we make health an end in itself. We have forgotten that health really means to enable a person to do his work and do it well. A lot of modern medicine, and this includes many patients as well as many physicians, pay very little attention to health but very much attention to those who imagine they are ill. Our great concern with health is shown by the medical columns in newspapers, the health articles in popular magazines and the popularity of television programmes and all those books on medicine. We talk about health all the time. Yet for the most part the only result is more people with imaginary illness. A healthy man should not be wasting time talking about health : he should be using health for work.
Modern medicine is primarily concerned with
Read the passage carefully and choose the best answer to each question out of the four alternatives and click the button corresponding to it. In the world today we make health an end in itself. We have forgotten that health really means to enable a person to do his work and do it well. A lot of modern medicine, and this includes many patients as well as many physicians, pay very little attention to health but very much attention to those who imagine they are ill. Our great concern with health is shown by the medical columns in newspapers, the health articles in popular magazines and the popularity of television programmes and all those books on medicine. We talk about health all the time. Yet for the most part the only result is more people with imaginary illness. A healthy man should not be wasting time talking about health : he should be using health for work.
The passage suggests that
Read the passage carefully and choose the best answer to each question out of the four alternatives and click the button corresponding to it. In the world today we make health an end in itself. We have forgotten that health really means to enable a person to do his work and do it well. A lot of modern medicine, and this includes many patients as well as many physicians, pay very little attention to health but very much attention to those who imagine they are ill. Our great concern with health is shown by the medical columns in newspapers, the health articles in popular magazines and the popularity of television programmes and all those books on medicine. We talk about health all the time. Yet for the most part the only result is more people with imaginary illness. A healthy man should not be wasting time talking about health : he should be using health for work.
The passage tells us