Economic Development

Determinants of Development

December 11, 2015

The process of development depends on a host of factors like natural resources, physical and human capital, technology, socio-politico-economic structure of the country. Determinants of development are broadly classified into economic factors and non-economic factors. Economic Factors as determinants of Development Economic factors as determinants of development include natural...

Difference Between Quality of Life and Standard of Living

December 9, 2015

Quality of life is another measure of economic development.Quality of life and standard of living should not be confused as synonyms of each other,even when one supports the other. Quality of life is indicated in terms of two well-known indices of development, viz: Physical Quality of Life Index It...