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Consider the following statements regarding Growth and Development of the country:
1. Economic development is quantitative as well as qualitative progress in an economy.
2. The term growth means quantitative progress and the term development means quantitative as well as qualitative progress.
Which of these statements are correct?
- a)1 Only
- b)2 Only
- c)Both 1 and 2
- d)None of the above
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
Consider the following statements regarding Growth and Development of...
Growth and Development of the Country
Introduction:
Growth and development are two important aspects of the economy. They are often used interchangeably, but they have different meanings. In this context, the following statements regarding growth and development of the country are discussed below.
Growth and Development:
1. Economic development is quantitative as well as qualitative progress in an economy.
2. The term growth means quantitative progress and the term development means quantitative as well as qualitative progress.
Explanation:
- Statement 1: Economic development is quantitative as well as qualitative progress in an economy.
Economic development refers to the process of improving the economic well-being of a country, region or community. It is a multidimensional concept that involves quantitative as well as qualitative progress. It includes not only an increase in the production of goods and services but also improvements in the quality of life of the people. For example, economic development can be measured by an increase in income, employment opportunities, and access to basic amenities like education, healthcare, and sanitation.
- Statement 2: The term growth means quantitative progress and the term development means quantitative as well as qualitative progress.
Growth refers to the increase in the production of goods and services in an economy. It is a quantitative progress that can be measured by the Gross Domestic Product (GDP). Growth is necessary for economic development, but it is not sufficient. Development, on the other hand, involves both quantitative and qualitative progress. It includes improvements in the quality of life of the people, such as better access to education, healthcare, and other basic amenities. Development is a broader concept than growth and involves various dimensions of human life, such as social, cultural and environmental aspects.
Conclusion:
In conclusion, economic growth and development are two important aspects of the economy. While growth refers to the quantitative progress in the economy, development involves both quantitative and qualitative progress. Therefore, both statements 1 and 2 are correct. A country needs both growth and development to improve the well-being of its citizens and achieve sustainable economic growth.
Introduction:
Growth and development are two important aspects of the economy. They are often used interchangeably, but they have different meanings. In this context, the following statements regarding growth and development of the country are discussed below.
Growth and Development:
1. Economic development is quantitative as well as qualitative progress in an economy.
2. The term growth means quantitative progress and the term development means quantitative as well as qualitative progress.
Explanation:
- Statement 1: Economic development is quantitative as well as qualitative progress in an economy.
Economic development refers to the process of improving the economic well-being of a country, region or community. It is a multidimensional concept that involves quantitative as well as qualitative progress. It includes not only an increase in the production of goods and services but also improvements in the quality of life of the people. For example, economic development can be measured by an increase in income, employment opportunities, and access to basic amenities like education, healthcare, and sanitation.
- Statement 2: The term growth means quantitative progress and the term development means quantitative as well as qualitative progress.
Growth refers to the increase in the production of goods and services in an economy. It is a quantitative progress that can be measured by the Gross Domestic Product (GDP). Growth is necessary for economic development, but it is not sufficient. Development, on the other hand, involves both quantitative and qualitative progress. It includes improvements in the quality of life of the people, such as better access to education, healthcare, and other basic amenities. Development is a broader concept than growth and involves various dimensions of human life, such as social, cultural and environmental aspects.
Conclusion:
In conclusion, economic growth and development are two important aspects of the economy. While growth refers to the quantitative progress in the economy, development involves both quantitative and qualitative progress. Therefore, both statements 1 and 2 are correct. A country needs both growth and development to improve the well-being of its citizens and achieve sustainable economic growth.
Community Answer
Consider the following statements regarding Growth and Development of...
- We can say that economic development is quantitative as well as qualitative progress in an economy.
- It means, when we use the term growth we mean quantitative progress and when we use the term development we mean quantitative as well as qualitative progress.
- If economic growth is suitably used for development, it comes back to accelerate the growth and ultimately greater and greater population brought under the arena of development.
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Consider the following statements regarding Growth and Development of the country:1. Economic development is quantitative as well as qualitative progress in an economy.2. The term growth means quantitative progress and the term development means quantitative as well as qualitative progress.Which of these statements are correct?a) 1 Onlyb) 2 Onlyc) Both 1 and 2d) None of the aboveCorrect answer is option 'C'. Can you explain this answer?
Question Description
Consider the following statements regarding Growth and Development of the country:1. Economic development is quantitative as well as qualitative progress in an economy.2. The term growth means quantitative progress and the term development means quantitative as well as qualitative progress.Which of these statements are correct?a) 1 Onlyb) 2 Onlyc) Both 1 and 2d) None of the aboveCorrect answer is option 'C'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements regarding Growth and Development of the country:1. Economic development is quantitative as well as qualitative progress in an economy.2. The term growth means quantitative progress and the term development means quantitative as well as qualitative progress.Which of these statements are correct?a) 1 Onlyb) 2 Onlyc) Both 1 and 2d) None of the aboveCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements regarding Growth and Development of the country:1. Economic development is quantitative as well as qualitative progress in an economy.2. The term growth means quantitative progress and the term development means quantitative as well as qualitative progress.Which of these statements are correct?a) 1 Onlyb) 2 Onlyc) Both 1 and 2d) None of the aboveCorrect answer is option 'C'. Can you explain this answer?.
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