Tag: need for sustainable development

Economic growth is measured using quantitative indicators like GDP or GNP. Qualitative indicators are used to measure economic development, not economic growth.

Economic development is a term primarily used to describe the process of transformation and improvement in developing countries, which face challenges like poverty and low industrialization.

Per capita income is an average that hides income distribution, ignores the composition of goods produced, and fails to account for social costs like pollution or health outcomes.

Economic growth is a term often used to describe the expansion of output in already developed countries, where the focus is on maintaining or increasing existing levels of prosperity.

Per capita income is a purely monetary metric. It fails to capture social, human, and institutional dimensions, such as literacy, life expectancy, and political freedom.

True. 

Per capita income is calculated by dividing the total national income (or output) by the total population, providing a measure of average income per person.

Real per capita income provides some information about economic capacity, but it is only a partial index because it ignores distribution, social welfare, and other non-monetary aspects of development.

Per capita income is an important criterion used to measure the development of countries. It is also known as average income. It is calculated to know what an average purpose is likely to earn. 

On the basis of per capita income, the countries are classified as rich and low-income countries. This is calculated in dollars for all countries so that the comparison can be made. 

In this context, India’s per capita income is 1670 dollars.

Thus, the correct answer is B.

While India faces many challenges, rapid population growth is widely cited in economic literature as a primary constraint that dilutes the benefits of economic growth and strains resources.