Question

what is development ???






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@kamini​

Answer 1

Answer:

An economy is the large set of inter-related production and consumption activities that aid in determining how scarce resources are allocated. In an economy, the production and consumption of goods and services are used to fulfill the needs of those living and operating within it.

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Answer 2

Ans. (i) Development is a comprehensive term which include increase in real per capita income, improvement in living standard of people, reduction in poverty, illiteracy, crime rate, etc. (a) Different persons have different developmental goals. (b) Income is a major component of development.

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