Economics 1 classx


 Difference between human development and economic development? 

Human Development 

It is indicated by human development index 

It is wider term and includes economic development

It is refers to human send their approach 

Economic development 

It refers continuous and sustained growth in an economy along with a general improvement in the overall standard of living in the nation

It can indicated by national income and per capita income 

It is an narrow term

Difference between a renewable and non renewable resources 

Renewable resources are those which can be used again and again 

This resource can be reproduced by physical chemical and mechanical process 

Examples groundwater solar energy wind energy etc 

Non renewable resources 

Resources are those which are used only for a limited time 

These resources occur over a very long ecological time and take millions of years in their formation 

Example crude oil and coal

Why is sustainable development essential for economic growth? 

Natural sources are not unlimited they should be used carefully 

Over use of natural resources may  exhaust for example arteries and example of renewable resources but over use of this resource may create problem in the near future

Non renewable resources are limited and warn us  to use very carefully so they may be available for future generations

Difference between human development report and world development reports ?

Human development reports 

This notion of development implies good and quality life 

It includes  literacy rate life, expectancy, infant mortality rate etc to determine the status of development of a particular area region or country

World development report 

It is stresses on raise in per capita income and growth in the economy 

It  takes into account quantitative aspect of development

It includes GDP national income and per capita income



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