Social Science : Economics
UNDERSTANDING DEVELOPMENT: PERSPECTIVES, MEASUREMENT AND SUSTAINABILITY
IV. Give Short Answers
1. What do you mean by development?
The word ‘development' refers to the progress of a particular field or a particular person.
2. What are the indicators of development?
• Net National Product
• Per capita income
• Purchasing power parity
• Human Development Index
3. Why NNP is not considered as an useful measure to compare a country's development with other countries?
NNP is not considers as an useful measure to compare a country's development with other contries Because
• Countries have different populations, comparing total income will not be suggestive of what an average person is likely to earn.
• People in one country are better off than others in a different country.
4. Why human resources is considered as the foremost resource of any country?
• Human resource is necessary for the progress of any country. Investment in human resource (education and health) can give high rate of returns in the future.
• It will result in higher earnings and greater contribution to the society. So human resource is considered as the foremost resource of any country.
5. Expand the following: 1. PPP 2. HDI
1. PPP = Purchasing Power Parity
2. HDI = Human Development Index
6. Expand the following : 1. NNP 2. PCI
1. NNP = Net National Product
2. PCI = Per Capita Income
7. What is solar power ?
Solar power is the conversion of energy from sunlight into electricity either directly using concentrated solar power.