* CONCEPT AND MEASURES

OF DEVELOPMENT

DEVELOPMENT
To understand the term economic
development
To analyze the difference between
economic growth and economic
development
To know the ways of measurement of
economic development

*LEARNING
OBJECTIVES
Economic development is a wider concept
than economic growth. Development
reflects social and monetary advancement
and requires economic growth. Growth is
an indispensable and fundamental
condition for development, but it is not a
complete condition as it cannot ensure for
development.

*INTRODUCTION
Economic development is a way by
through which the overall health, well
being and academic level of the population
of a country improves. It is a qualitative
variable which is concerned with the life of
citizens of a country and is most
appropriately measured by Human
Development Index(HDI).

*Contd…………………………
The overall development of a country is
based on various factors such as the
creation of job opportunities, technological
advancements, standard of living, living
conditions, per capita income, quality of
life, improvement in self-esteemed needs,
GDP, industrial and infrastructural
development, etc.

*Contd……………………
* DIFFERENCE BETWEEN ECONOMIC GROWTH AND ECONOMIC
DEVELOPMENT
Economic Development is measured
in four ways:
1)Gross National Product
2)GNP Per Capita
3)Welfare
4)Social Indicators

*MEASURES OF
DEVELOPMENT
*As development gains speed it leads to
cumulative expansion in the industrial area there
by leading to higher per capita income.
*Development looks at more variables than only
GDP per capita. Development is related with
how people are actually affected. It focus on the
actual living standards and the freedom they
have to enjoy a good standard of living.

*Conclusion