Give Short Answers

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.