1] Productivity per hectare of land Improving agricultural productivity is an essential part of economic development stragy. High economic development allows the countries to use their limited natural resources much more efficiently than the less developed countries. Therefore the efficiency…
Monthly Archives: August 2013
ECONOMIC DEVELOPMENT – FEATURES
1] Qualitative concept Economic development is a quantitative as well as a qualitative concept. It tries to explain the quantitative changes in wants, goods, institutions, higher growth rate, better infrastructure facilities. It is also concerned with social indicators like literacy…
Tagged with: economic development, PCI, Real national income, sectoral, structural change
Posted in Indian Economy
Posted in Indian Economy
ECONOMIC DEVELOPMENT – MEANING AND DEFINITIONS
Traditional Approach Till 1960 the terms economic growth and economic development were considered to be the same ie synonyms. As a consequence economic development was taken to mean a sustained and steady increase in GDP (@ 5% to 7% per…
Tagged with: defination, development, modern, qualitative, structural change, traditional
Posted in Indian Economy
Posted in Indian Economy
ECONOMIC DEVELOPMENT – INTRODUCTION
Economic development has been one of the universally accepted objectives since the Second World War. Economic growth is easy to realize as output can be increased by mobilizing resources and increasing their productivity. Economic development on the other hand is…
ECONOMIC GROWTH – DISTINCTION PCI – PCC
PER CAPITA INCOME [PCI] PER CAPITA CONSUMPTION [PCC] Definition – “Per capita income is the average income of a nation”. Definition – “Per capita consumption is the average consumption of a nation”. Per capita income determines the average standard of…
ECONOMIC GROWTH – INDICATORS
1] Gross Domestic Product [GDP] The term economic growth indicates quantity or size. It has a quantitative dimension, ie an increase in the size or quantity of output produced over a period of time. This is the GDP ie the…
ECONOMIC GROWTH – DESIRABLE BECAUSE
1] It increases the standard of living of the people. 2] Redistribution of income and wealth becomes easy. Through government intervention the benefits of economic growth may be more equally distributed (because if existing national income is not equally distributed…
ECONOMIC GROWTH – DESIRABLE OR NOT
A rapid growth rate is preferred to a slow growth rate. This however may be achieved at a high cost by way of current cost. 1] If economic growth ie an increase in GNP and PCI is achieved without any…
ECONOMIC GROWTH – FEATURES
The various definitions of economic growth imply the following features 1] Economic growth is a continuous process. When available natural resources are used in an optimum [full use and no waste] manner there is a continuous increase in the production…
ECONOMIC GROWTH – MEANING AND DEFINITION
The term economic growth draws our attention to “size” or “quantity”. It has a “quantitative dimension”. It is also a sustained increase. It refers to an increase in size or output of goods and services produced in the economy over…
Tagged with: defination of econimic growth, meaning of economic growth, types of economic growth
Posted in Indian Economy
Posted in Indian Economy