Economic Growth And Economic Development — Important Questions
Telangana Open School (TOSS) · Class 12 · Economics
42 important questions from Economic Growth And Economic Development for Telangana Open School (TOSS) Class 12 Economics, with answers.
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Important Questions from Economic Growth And Economic Development
Which of the following is a characteristic of developed economies?
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High rate of capital formation
Developed economies invest heavily in capital goods like machinery and infrastructure, leading to higher productivity and growth.
What does GNP per capita include that GDP does not?
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Net factor income from abroad
GNP = GDP + Net factor income from abroad, which includes income earned by citizens working overseas.
Which sector contributes the most to national income in developed countries?
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Services
In developed economies, the service sector (like banking, IT, healthcare) contributes the largest share to national income.
What is sustainable development?
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Meeting present needs without compromising future generations
Sustainable development balances current economic growth with environmental protection for future needs.
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