Question

State any two goals of development other than income.

Answer 1

Answer:

The two goals of development other than income are

• Everyone needs to live. Without respect, we can’t live in society. Every person needs proper equality or respect. Whenever he or she lives or works they need only respect. Suppose in a company from a CEO to a Peon need respect to work and in families as well as.
• Freedom is like the quality of life. From a child to a person everyone needs freedom to spend his or her life.

Economic Development Influencing Factors

• Infrastructure development – Infrastructure development increases people’s quality of life. As a result, an increase in the rate of infrastructural development leads to a nation’s economic development.
• Improvements in literacy and technical knowledge will lead to a better understanding of how to use various pieces of equipment. This will boost labour productivity, which will lead to a nation’s economic progress.
• Increase in capital formation – An increase in capital formation will result in greater productive output in an economy, which will have a favourable impact on economic development.

Refer more

• What is development? Mention the two aspects of development.