Question

"Though the level of income is important,it is an inadequate measure of the level of development".Justify the statement with the help of suitable examples?Analyse its limitations for using it for classifying the countries?love it with the help of suitable examples

Answer 1

Income is important to determine the level of development; but it is not the only factor responsible.

It is a materialistic indicator, whereas there are several non materialistic indicators such as health, sanitation, and education.

Therefore, though the level of income is important, it is an inadequate measure of the level of development.