What is meant by economic development?
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Distinguish between Human development and economic development.
Economic Development Human Development It refers to a continuous and sustained growth in an economy along with a general improvement in the overall standard of living in the nation. It refers to an...
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The best Index of Economic Development is provided by
(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...
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Examine the nature of relationship between entrepreneurship and economic development.
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...
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What is the difference between economic activities and non-economic activities?
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...
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How was the economic development of India visualised in the early decades after Independence?
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...
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'Indian Railways accelerates the economic life of the country as well as the development of industry and agriculture'.
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...
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Analyse the role of the manufacturing sector in the economic development of India.
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...
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How did Paul Bernard argue in favour of economic development of Vietnam ? Explain.
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...
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Explain how public sector contributes to the economic development of a nation?
In the following ways, Public Sector contributes to the economic development of a nation. (i) It promotes rapid economic development through creation and expression of infrastructure. (ii) It creates employment opportunities. (iii) It...
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Differentiate between economic and non-economic activities with one example each.
(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...
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