Distinguish between Human development and economic development.

(A) Growth in Per capital Real Income from year to year Per capita Gross National Product (GNP) is the best index of development. It can be derived by dividing the GNP...

The relationship between entrepreneurship and economic development can be highlighted with the help of the following functions performed by entrepreneurs. (i) Contribution to GDP: Economic development of any economy is often related to...

Activities that add value to the national income are called economic activities. These have two parts – market activities (production for pay or profit) and non-market activities (production for self...

Removing poverty and building a modern technical and industrial base were important objectives for the new nation. The Planning Commission was set up in 1950 to plan and execute policies...

Railways accelerate the development of the agriculture and industries, and also bind the economic life of the country together. This is because of the various advantages possessed by railways, such as...

The role of the manufacturing sector in the economic development of India :  (a) Manufacturing industries help in modernising agriculture which forms the backbone of our economy. (b) It reduces the heavy...

Paul Bernard's arguments in favor of economic development of Vietnam : (i) He argued that the purpose of acquiring colonies was to make profits. (ii) The economy was developed and the standard...

Economic development is a sustained increase in real per capita income that promotes economic welfare by reducing poverty, unemployment and inequalities in the distribution of income.

(i) Economic activities are such activities which gets you some income while performing them. For example, a doctor earning his income by treating his patients.  (ii) Non-economic activities are the activities...