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Showing posts with label Development. Show all posts
Showing posts with label Development. Show all posts

Measurement of Growth and Development

5:28 AM | Labels:

 Measurement of Growth and Development

     The Measurement of development is through what are commonly called economic indicators, however, there are measures, both qualitative and quantitative that need to be taken into account when rendering a judgement on whether or not growth and development are taking place in a society. As there are no well settled norms for judgement of growth and development, comparison of economic performance is utilized. The rate of increment is also used as basis for judgement. 



  The Gross National Product

 The GNP is the sum of the value of goods and services created in the economy in a given year. As such it is a measure of economic performance and vitality. The growth of the GNP indicates the productive capacity of the economy on the year to year basis.

  

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Posted by Alexanderdrake

Goals of Economic Development

5:13 AM | Labels:


  1. A better quality of life for the people through adequacy of food, clothing, shelter, health services and other amenities of life.
  2. Increased GNP that can provide for more economic savings and investment needed to attain higher economic development.
  3. Higher Level employment and wages for the labor sector.
  4. Poverty and underemployment reduction for a better quality of life.
  5. Higher productivity in production through more efficient methods and improved manpower skills.
  6. Maintenance of socially shared benefits from increased income through a distributive effects of the tax system and public services.
  7. Improved social services brought about by gains of economy.
  8. Ability to finance the maintenance of internal peace and order.
  9. Provision of improved infrastructure facilities in the urban and rural areas.
  10. Adequacy of educational and training services to meet the demands of further development.
  11. Preservation of the environment alongside establishment of industries.
  12. Reduction of internal and external public debt.
  13. Increased material consumption by the people.
  14. Attainment of a population growth rate for a better quality of life.
  15. Increase of household incomes and reduction malnutrition.
  16. Financial adequacy of public sector and the improvement of social services.
  17. Strengthening and stabilization of the currency through production and the trade.
  18. Self-sufficiency in food production and/or the maintenance of food stock-pile.  

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Posted by Alexanderdrake

Meaning of Economic Development

4:34 AM | Labels:

     
       Economic Development is the growth of the Gross National Product (GNP), accompanied by a redistribution of wealth among the people. It is the rise of investment, production and income that brings about a better quality of life for the population. It is the movement of a country from tool-based to machine-based production with the effect of better income for the people and the provision of improved facilities for the society.

       It is sustained capital formation in the country resulting in higher productivity and the improvement of social institution for efficiency in resource utilization.


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Posted by Alexanderdrake
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