Question

What is meant by development? Tell us about the two indicators of development.

Answer 1

Explanation:

development can be defined as efforts that seek to improve the economic well-being and quality of life for a community by creating and/or retaining jobs and supporting or growing incomes and the tax base. It is the increase in the growth and welfare of people, improvement of quality.

Key Indicator # 1. Per Capita Income:

The most important indicator of economic underde­velopment is low per capita income. Usually, an LDC is defined as one in which per capita real income is low when compared with that of USA, Canada, Australia and Western Europe. Statistical studies show low-in- come countries are much poorer than advanced countries like the USA.

Key Indicator # 2. Poverty:

The second important indicator of economic underdevelop­ment is poverty. Not only per capita income is low, there is inequality in the distribution of income. Many people in LDCs do not get the minimum level of income necessary for a minimum caloric intake are said to be living below the poverty line. In India it is 25% at present.

Answer 2

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$\bf \purple{the \: national \: income}$
the level of national income indicate the level of development of the country National income is the value of all the final goods and services produced in a country during a year and the income coming from abroad.

$\bf \purple {per \: capita \: income }$
per capita income is the indicator of the income of all the citizen of a country .when the national income is divided by the total population of the country we get per capita income.
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