Which among the following was the important Non-Economic factor in Economic development?
Desire for development
Economic development depends on economic factors such as capital formation, natural resources, foreign trade conditions and the economic system, and on non-economic factors such as social, political, psychological and cultural conditions.
Capital availability, the terms and conditions of foreign trade and the nature of the economic system are all economic factors.
The urge or desire of people for development is a psychological and social attitude, which economists like Ragnar Nurkse and W. A. Lewis treat as an important non-economic factor of growth.
Hence, Desire for development.
Similar Questions
Employment projections for the Eleventh and Twelfth plans were
Assertion [A] : Higher knowledge increases productivity of the labour force.
Reason [R] : Higher expenditure on education yields higher knowledge.
Assertion [A] : The health care system consists of a mix of both Public and Private sector in provision of various health care facilities related to preventive, curative and promotive aspects of health services.
Reason [R] : The key objective of the Government is to provide accessible, affordable, equitable and quality health care, especially to the marginalized and vulnerable sections of the population.
Important Questions from Human Development Indices and Concepts
Which of the following is not related to 'Empowerment of women'?
Which of the following is not a constituent of Human Development Index (HDI)?
The Statistical Indicator of Equitable distribution of Income is
Which of the following is not a dimension of Human Development Index?
Select the correct statement/s.
(a) India ranks 131 in United Nation's Human Development Index, 2020.
(b) Life expectancy of Indians at birth in 2019 was 72.6 years while Bangladesh had life expectancy of 69.7 years
(c) Switzerland ranks 1st in United Nation's Human Development Index, 2020.
