It is calculated by dividing the National Income of the country by population. Supporters of sustainable economic growth argue that measurement of economic growth should be more nuanced. Economic progress without damage to ecosystems. (i) Labourer (ii) Rich farmer (iii) Trader. Q.17. {{courseNav.course.topics.length}} chapters | ‘What may be development for one may not be development for the other.’ Explain by giving examples. What is the meaning of ‘Infant Mortality Rate ’ (IMR) ? - Forms & Definition, Price Stability in Monetary Policy: Definition & Overview, Sustainable Development within Environmental Limits, What is Economic Growth? (i) Per capita income is the average income of a country. first two years of college and save thousands off your degree. In fact, our relentless pursuit of more stuff leads us to work harder, creates more stress, and can adversely affect our health and social interactions with friends and family. a). In addition, students are like many consumers who do not take, or have, the time to understand these schemes and labels. Define the term, ‘average income.’ [CBSE 2008, 2009 (D)] A simple introduction to sustainable development and the Sustainable Development Goals (SDGs). (iii) Net Attendance Ratio : This is the total number of children of age group 6-10 attending school as a percentage of total number of children in the same age group. 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In that class, the first assignment ... A few claim that they make a contribution to sustainable development through philanthropic efforts and product give-aways. Not sure what college you want to attend yet? What is the Difference Between Blended Learning & Distance Learning? Ans. (i) More wages means development for a worker, but it can go against the entrepreneur. The underlying economic conditions for growth that is inclusive, environmentally sustainable and conducive to employment creation are a basic prerequisite for generating income and bringing about a permanent reduction in poverty. An economy functions in the ecosystem. To learn more, visit our Earning Credit Page. (i) Provision of basic health. Sustainable economic growth is pursuit of economic development that attempts to fulfill the needs of people while maintaining natural resources in a sustainable manner, so they will be available for future generations. (v) UNDP : (ii) What may be development for one may not be development for the other. Though the national income and the per capita income are the indicators of human development, but it includes many other elements like consumption, health, environment, education, freedom, security, non-violent atmosphere, etc. This pollution can lead to serious health effects, which may reduce the quality of life and health of the population. (iii) What is meant by Human Development ? (2) Measures to keep Infant Mortality Rate low : Q14. All rights reserved. Besides income, what can be the other attributes to compare economic development? Describe any three features of developed country. 5.72 percent B. The World Economic Forum is an independent international organization committed to improving the state of the world by engaging business, political, academic and other leaders of society to shape global, regional and industry agendas. (i) Average income gives us an idea what an average person is likely to get out of the total national income. (iii) It is a comprehensive approach which cover all the major aspects of life. Ans. (ii) Average income is used to classify the countries into rich, poor or developing nations. Most traditional economists don't believe sustainability is a problem because technology can help replace natural resources, and current prices don't indicate a problem of scarcity. [CBSE Sept. 2011, 2012] Sustainable development is the organizing principle for meeting human development goals while simultaneously sustaining the ability of natural systems to provide the natural resources and ecosystem services on which the economy and society depend. Externality, or costs that others have incurred without agreement, is also a factor to consider. Many of the costs of the harm created by economic activities are not borne by those who cause it but by other people who neither obtain the benefits from the economic activity or agree to pay the costs related to it. credit by exam that is accepted by over 1,500 colleges and universities. Plastic can be used instead of wood, for example. Q.6. (i) Under national development, a country uses its resources in a fair and just way. Finally, these economists argue that the whole idea of growth needs to be reassessed to take into account the true cost and consequences of production, as well as whether the growth leads to well-being. Try refreshing the page, or contact customer support. Traditional economics argues that the economic well-being of a society requires continual economic growth and that worrying about the environment hinders economic growth. [CBSE 2013] Define the following terms : (D) 2008, 2009 (F), Sept. 2011] Q-11. The term sustainable development is applied to the development of a country or world, that is to resume and maintained for future generations. strategy to address resource depletion and environmental degradation, while promoting development. courses that prepare you to earn Q.10. But the quality of our life also depends upon non-material things like equal treatment, freedom, security, respect of others, etc. A multitude of meanings is attached to the idea of development; the term is complex, contested, ambiguous, and elusive. In this lesson, you'll learn about sustainable growth and some of its important concepts. Economics of natural resource use (non-renewable resources such as oil, gas and metals as well as renewable resources such as fish and forests) Economics of sustainable development (including the measurement of sustainable development and the effect of economic growth on the environment) With the help of an example show two groups who may have different notions of development. However, in the simplest terms, development can be defined as bringing about social change that allows people to achieve their human potential. Accordingly, we must consume groundwater in a manner that it can be said a Rational or careful use of resources. and career path that can help you find the school that's right for you. Find out who sponsors economic development and … Ans. Sustainable economic development synonyms, Sustainable economic development pronunciation, Sustainable economic development translation, English dictionary definition of Sustainable economic development. lessons in math, English, science, history, and more. [CBSE Comp. They also point out that growth and well-being don't necessarily coincide. (iv) Money possessed by an individual even can not provide us a type of government which take decisions for the welfare of the common people. (iu) To get more electricity, the industrialists may want more dams. Ans. Humans live in an ecosystem and cannot survive without it. Create an account to start this course today. (iv) Sustainable Development is that process of economic development which aims at maintaining the quality of life of both the present and the future generations without harming the natural resources and environment. (ii) Provision of proper educational facility. In the name of economic development, the price of environmental damage is paid in the form of land degradation, soil erosion, air & water pollution, deforestation, etc. (ii) It is concerned with the well-being of the people, their needs, choices and aspirations. {{courseNav.course.mDynamicIntFields.lessonCount}} lessons (iii) What is per capita income? What are the aspects covered under the national development ? (v) Though Punjab has higher per capita income as compared to Kerala but it has been ranked lower on Human Development Index because it is far behind than Kerala in literacy rate and has higher infant mortality rate than Kerala. It is possible for a company to grow faster than its sustainable growth rate. (v) To have equality and enjoyment of human rights. Q.16. (ii) How can we achieve our hopes and possibilities in the present world ? 38. Where it is used ? (iv) Human development focuses on the expansion of basic choices. Plus, get practice tests, quizzes, and personalized coaching to help you [CBSE 2013, 14] The green economy is defined as economy that aims at making issues of reducing environmental risks and ecological scarcities, and that aims for sustainable development without degrading the environment.It is closely related with ecological economics, but has a more politically applied focus. [CBSE 2008 (D)] Study.com has thousands of articles about every The desired result is a state of society where living conditions and resources are used to continue to meet human needs without undermining … Businesses are permitted to pollute to a certain degree (less now than in the past). Sustainable economic growth is managing these resources in a manner that they will not be depleted and will remain available for future generations. (iii) Average income is used to make economic policies. Mention any two features of development. The ecosystem provides the factors of production that fuels economic growth: land, natural resources, labor, and capital (which is created by labor and natural resources). The 2011 UNEP Green Economy Report argues "that to be green, an economy must not only be … (b) Income is a major component of development. In recent years, a decline in global trade barriers has led to a massive increase in agricultural production in, Working Scholars® Bringing Tuition-Free College to the Community. (iv) Mention two developmental goals of landless rural labourers. Mention any four characteristics of development. Developers pass it on to property owners, who pass it on to tenants. [CBSE 2010(0), Sept. 2013] If we destroy the environment, we will eventually destroy ourselves. Q.15. (v) (a) Because it has low infant mortality rate, (b) It has higher literacy rate. An important point to emphasise is that development is a political term: it has a range of meanings that depend on the context in which the term is used, and it may also be used to reflect and to justify a variety of different agendas held by different pe… Ans. [CBSE 2013, 14] All other trademarks and copyrights are the property of their respective owners. WHAT ARE THE SUSTAINABLE DEVELOPMENT GOALS? Create your account. Services. There are many economic as well as non economic factors which contribute to the human development. In other words, price does not truly reflect the real cost of economic activity. The World Economic and Social Survey 2013 serves as a valuable resource as we look towards translating the outcome of Rio+20 into concrete actions. imaginable degree, area of By adding the concept of , sustainable development means not only that humankind should satisfy its current needs without compromising the ability of future generations doing the same. just create an account. - Definition, Theory & Impact, Incentive-Based Regulatory Approaches: Environmental Taxes & Tradable Permits, Sustainable Consumption: Definition and Complexities, What Is Economic Growth and Development? (i) It is used to compare different countries. (O) 2008] We call a cost borne by someone who did not agree to bear it an externality. ‘Money cannot buy all the goods and services that one needs to live well.’ Explain. (iv) Per capita income criteria also ignores non material things like peace, pollution free environment, democracy, etc. Increased Costs. The report, produced by a commission led by Doctor Gro Harlem Brundtland uses the term sustainable development as we understand it today for the first time. (1) The number of children that die before the age of one year per 1,000 children born alive in a particular year is called Infant Mortality Rate. Or Sciences, Culinary Arts and Personal ECONOMIC SUSTAINABILITY Sustainability focusses on equal economic growth, that generates wealth for all, without harming the environment. (i) Different people have different developmental goals. Earn Transferable Credit & Get your Degree, Sustainable Development: Definition, Obstacles & Impact, Environmental Sustainability: Definition and Application, Urban Sustainability: Definition & Issues, Cradle to Grave: Definition, Analysis & Approach, What is Economic Development? Enrolling in a course lets you earn progress by passing quizzes and exams. (ii) Which is the new area of knowledge in which scientists, economists, philosophers and other social scientists are working together ? Get the unbiased info you need to find the right school. Q.12. (iu) For development, people look at mixed goals. What is the significance of Human Development Index ? (b) Health status Sustainable Economic Development. [CBSE 2009 (F) Sept. 2011] [CBSE 2012] NCERT Solutions for Class 6, 7, 8, 9, 10, 11 and 12, Formulae Handbook for Class 10 Maths and Science, Q.1. Q.8. [CBSE Sept. 2010] Ans. (ii) Money cannot buy us a pollution free environment, unadulterated medicines, peace, etc. - Factors of the Human Impact on the Environment, Supply-Side Economics in Fiscal and Monetary Policy, What Is Industrial Ecology? True or False? It may be destructive for the other. Investment and an equal distribution of the economic resources will strengthen the other pillars of sustainability for a complete development. - Definition & Principles, Quiz & Worksheet - Characteristics of Sustainable Economic Growth, Over 83,000 lessons in all major subjects, {{courseNav.course.mDynamicIntFields.lessonCount}}, Economic Growth: How to Raise a Nation's Potential Output, How Real GDP per Capita Affects the Standard of Living, Productivity: The Economy's Long-Run Growth Engine, Investment in Human Capital and Productivity, Physical Capital: Definition and Effects on Productivity, How Technology, Research & Development Affect Productivity, What is a Traditional Economy? Sustainable economic growth is economic development that attempts to satisfy the needs of humans but in a manner that sustains natural resources and the environment for future generations. Their best advantage sanitation etc possible to use available resources to produce the very resources. 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