Deep Educations STD: 12 Economics: CHAPTER - 2 Indicators of Growth and Development

RECONCILIATION BY PRAMILA TEKWANI
DEEP EDUCATIONS
STD: 12th ECONOMICS
CHAPTER - 2 Indicators of Growth and Development
*Choose the correct option for the following questions:

1. Development is a multi dimensional process. Who has given this statement?
(a)Todaro (b) Kindle Berger (c) Marshall (d) Machlup
2. Which concept is qualitative?
(a)National Income growth rate (b) Per capita Income growth rate
(c)Economic growth (d) Economic development
3. What was India's ranking in the world according to the Human Development
Index in 2014?
(a) 127 (b) 128 (c) 129 (d) 130
4. What was the per capita income of India in US dollars according to the Human
Development Report of 2014?
(a) 7110 (b) 7068 (c) 480 (d)5497
5. When economic development takes place in a country
(a)Contribution of agricultural sector decreases.
(b)Contribution of agricultural sector increases.
(c)Contribution of industrial sector decreases.
(d)Contribution of service sector decreases.
6. What is the maximum value of Physical Quality of Life Index (PQLI)?
(a)less than 100 (b) more than 100 (c) 100 (d)zero
7. What is the value of Human Development Index?
(a) 0 (b) 1 (c) between 0 & 1 (d) 100
8. Generally, which countries are related with the concept of economic growth?
(a)Developed (b) Developing
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(c) Backward countries (d) Third world countries

9. ...... was first in Human Development Index according to 2014 report.
(a)Japan (b) Norway (c) America (d) India
10. Economic development is the....... of economic growth.
(a)Cause (b)Result (c)Means (d)End
11. True progress.....
(a)Economics progress +social progress
(b)Economic progress+national progress
(c)Economic progress+ national progress+individual progress
(d)National progress+ individual progress
12. To calculate the rate of education to be included in HDI, people in the Age
group of ......or above are included.
(a)21 (b)15 (c)14 (d)18
13. Who developed PQLI?
(a)Morris (b)Machlup (c)Todaro (d)Hancen
14. After a stage, Economic development_______.
(a)Becomes self - motivating (b)Needs more thrust
(c)fades and growth takes over (d)becomes stagnant
15. When were improvements introduced in the minimum and maximum values
of HDR?
(a)In 2010 (b)In 2001 (c)In 2000 (d)In 2003
ANSWERS
1. A 2. D 3. D 4. D 5. A 6. C 7. B 8. B 9. B 10. B
11. A 12. B 13. A 14. A 15. A

*Answer the following questions in one line :

1. What is Economic growth?
Ans. "A long tern increase in capacity of a country to supply diverse economic
goods to its people is known as economic growth
— Simon Kuznets
OR
The increase in the total output of an economy in the long run is known as
economics growth by total output we mean that there is continuous increase in the
real national income and real per capita income which we call as economic growth.
2. Give the meaning of Economic development?
Ans. Economic development is a process by which a nation improves the economic
political and social well-being of its people.
3. What is per capita income?
Ans. The number obtain by dividing total national income with total population is
called per capita income
4. Why is per capita as an indicator is more effective than national income as
an indicator?
Ans. The per capita income takes into consideration to population which national
income does not. Hence this indicator of development is superior to national
income.
5. Which economist presented the Physical quality of life index?
Ans. Morris Davis Morris has presented the Physical Quality of Life Index.
6. How many countries were included in the HDI of 2014?
Ans. 188 countries were included in the HDI of 2014.
7. Which factors are included in the Human Development Index?

Ans. (1) Life Expectancy (2) Education (3) Income are factors included in Human
Development Index.
8. What is Infant mortality rate?
Ans. The number of infants who die out of every 1000 infants before completing
their first year is known as infant mortality rate.
9. State the maximum value in Human Development Index.
Ans. The maximum value of Human Development Index is 1.
10. What does high per capita income indicate?
Ans. It indicates that economic growth as taken place in the country.
11. Sanitation facility indicates which aspect of improvement?
Ans. It is qualitative aspect.
12. Increase in production in which type of change?
Ans. It is quantitative aspect.
13. Which is the latest indicator of development? Who introduced it? When?
Ans. Human Development Index is the latest indicator of development. United
Nations Development Programme presented it in 1990.
14. What is life expectancy at birth?
Ans. The expected number of years a person will live at the time of birth is known
as life expectancy.
*Answer the following questions in short:

1. State the limitations of National Income as an indicator.
Ans. Limitations of National Income as an indicator.
(i)Difficulty in calculating true national income.
(ii)Population
(iii)Different methods of calculating National Income.
2. State the limitations of per capital income as an indicator.

Ans. Limitations of per capita income as an indicator.
(i)Only estimates
(ii)Difficulty in calculating national income and per capita income.
(iii)Per capita income only shows an average.
(iv)Difficulty in comparison
3. Where do the quantitative and qualitative changes occur?
Ans. Quantitative and qualitative changes are the characteristics of Economic
development. In Economic Development, output increases which is quantitative
and due to research, the quality of the product improves which is qualitative. But
there is more of qualitative improvement.
4. What type of change is rise in production?
Ans. As population increases, per capita available income declines. People are
required to feed more children with the same income. It means more expenditure
on consumption and a further fall in already low savings and consequently in the
level of investment.
5. What are the various indicators of Economic development?
Ans.(i)Growth rate of national income.
(ii)Growth rate of per capita income.
(iii)POLI - Physical Quality of Life Index
(iv) HDI - Human Development Index
(v)GDI - Gender Development Index
(vi)TAI - Technological Achievement Index
(vii)HPI - Human Poverty Index
(viii)HCI - Human Consumer Index
6. State the limitations of Economic Growth
Ans. The limitations of Economic Growth are :

• Economic growth takes into consideration only the quantitative change.
• In Economic growth, there is a rise in national income and per capita income but
institutional and psychological factors remain as &fore.
• The concept of economic growth is narrow and depicts only the rise in the ate
and extend of output.
• The concept of economic growth is not of much use in the welfare of the people.
7. State the limitations of development.
Ans. Economic development indicates the progress of a nation. It shows the
economic scenario but in real sense, it cannot discuss the human development. It
cannot become the index of human progress.
• Economic development cannot be measured as economic growth. It is a very
difficult to measure economic development. Economic development includes
those changes that have happened in the society. It is very difficult to derive a
measurement for this.
• When economic development takes place, the standard of living of people
improves. Though economic development is taking place in India today, there is
not much improvement in the standard of living of the people and therefore we
cannot say that economic development means improvement in standard of living.
8. Between growth and development, which one is difficult to measure?
Why?
Ans.
• Development is more difficult to measure as compared to growth.
• Growth refers to quantitative value. It is easy to measure quantitative aspects.
Growth is measured by the means of statistical numbers and indicators such as
per capita, national income, etc.

• Development is more of a qualitative aspect. It covers areas like how far the
living standard of people has improved? How far is the health of people
improved? It is quite difficult and lengthy process to measure such aspects.
9. Population is not counted every year but per capita income is. Explain the
problem with this.
Ans. The national income of the economy is calculated almost every year and hence
we get almost a correct data but the population of the country is not calculated
every year. In India population census is taken once in 10 years. Hence, only an
approximation is taken for all other years. So per capita income data is not
acquired correctly.
10. What do you mean by literacy level?
Ans. To know the quantum of knowledge adult literacy in percent is calculated.
People in the age group 15 years and above are included.
Two aspects are included in this (A) Number of years of schooling (B) Expected
number of years of schooling. The gap between expected and actual number of
years of schooling is taken to derive the values.
11. What is Infant Mortality Rate?
Ans. Infant mortality rate (IMR) is the number of deaths per 1,000 live births of
children under one year of age. It is a reflection of social status and welfare. It is
an intricate reflection of availability of pure drinking water, environment of the
house, status of women and role of a mother
12. Why did Morris select only three determinants in the index of POLI?
Ans. Reasons for only Three Determinants
• Dependable data for all these factors can be acquired for all the countries.
• All these three factors (determinants) depict the results and not efforts.
• All these three factors are product based and hence fulfils the justifiable
standards for performance comparison.
13. State the positive aspects of PQLI.
• PQLI includes factors like literacy life expectancy (health) etc. which touch the
standard of human life.
• PQLI is a better index when compared to the per capita income index.
• PQLI as an indicator of economic development has lesser drawbacks, as against
National income and per capita income indicators.
• With PQLI comparisons can be made between different countries, different
groups of countries or different states of the same country.
• We can create PQLI for urban rural areas, females - males and a comparison can
be done.
14. How does HDR-2015 divide the world countries?
Ans.
• According to the HDI of 2015, which has included 188 countries, classified
countries into 4 on the basis of human development:
• Countries having highest (maximum) human development: The average value of
human development of lst to 49th country is 0.890.
• Countries having high human development: Average value of HDI of countries
with 50th to l05th ranks is 0.735.
• Countries with moderate human development: Average value of HDI of
countries with 106th to l43rd ranks is 0.614.
• Countries having low human development: Average value of HDI of countries
with l44th to l88th in 0.493.
*Give answers to the point for the following questions:

1. What is Physical Quality of Life? What are the aspects included in it?
Ans.
Introduction

• Morris Davis Morris presented the physical quality of life index which is in short
known as PQLI. In this index betterment of physical quality of life of human
beings is considered as Economic development. The level of physical quality of
life determines the level of economic development. If any country's physical
quality of life is higher than that of the other country, then that country is
considered as more developed
Aspects included in the Physical Quality of Life:
• The composition of goods and services consumed by an individual during a
period of a year determines the physical quality of life.
Following are the determinants included in the list of good and services:
(i)Food (Proportion of calories protein and fats)
(ii)Health and medical services (Proportion of doctor to population)
(iii)Housing and clothes (Numbers of rooms in house, average number of people
living in each room etc.)
(iv)Education and entertainment (percentage of people getting primary and
secondary, education, entertainment, facilities like T.V, theatre, etc.)
(v)Transport and communication and information services (the extent of road,
railway lines, number of telephone per capita)
(vi)Energy (per capita energy consumption)
(vii)Population of having access pure drinking water
(viii)Average life expectancy
(ix)Infant mortality rate
(x)Drainage facility


• PQLI Closer to 100 better is the performance of all the 3 indices of PQLI of
the country. PQLI Closer to 0, bad is the performance of all the 3 indices of
PQLI of the country. PQLI is always between 0 to 100.
• PQLI can be used to compare two states within the country or two different
countries.
• Higher the PQLI more is the economic development.
• Lower the PQLI, lesser is the economic development.
Conclusion:
• A major criticism of the PQLI, however, is that it fails to include many other
social and psychological characteristics suggested in the terms 'quality of
life'.
• The index has also been criticized on the grounds that it lacs a proper
reasoning in giving an equal weightage to all the three indicators and the
possibility that measures such as life expectancy and infant mortality rate
reflects practically same phenomenon.
• To overcome the limitations of PQLI and other indicators, Human
Development Index was developed.
2. Discuss national income as an indicator of economic development.

Ans.
Introduction: National income is the total value a country's final output of all
new goods and services produced in one year.
Explanation:
• According to this indicator, a country is said to have attained economic
development if there is a continuous increase in the real national income of
the country for a long period of time.
• If the rate of rise in national income is high the development rate is said to
be high and if national income increases at a lower rate, the rate of
development is low.
If the national income does not rise it depicts the state of stagnancy and if
national income decreases, there is underdevelopment or negative
development.
• According to this indicator real income and not money income is taken into
consideration and hence national income is calculated not at current prices
but at constant prices.
Tabular Expression:
• Some countries have a faster rate of growth of national income when
compared to the rate of growth of national income and hence, such countries
are said to have a higher rate of economic development. It can be seen in
table that countries like Norway, America, Sri Lanka and Pakistan have a
slower annual growth rate of national income as against India.
• Hence, it can be said that India's growth rate is higher than that of these
countries. Today, India is considered to be one of the fastest developing
countries of the world. But it should be remembered that countries like
Norway and America had impressive growth rate already though they are
growing at a rate of 2 to 3 % per annum in the present.
Annual Growth Rate of National Income in

Country Percent
Norway 2.2
America 2.4
Sri Lanka 4.5
China 7.3
India 7.3
Pakistan 4.7
Conclusion:
Thus, the above brief information about how national income computes the
economic development of different nations. Due to some drawbacks of this
indicators and per capita income, PQLI was introduced by Morris Davis
Morris.
3. Explain per capita income as an indicator of economic development.
Ans.
Introduction:
• Per capita income is a measure of the amount of money earned per person in
a nation
Explanation:
• According to this indicator, when the per capita income of a country
increases for a long period continuously, it can be said that economic
development has taken place. Per capita income is average income per head.
Per capita income is gross national income of a country divided by the
population of that country. This indicator takes into account the population
of the country too, and hence per capita income as an indicator is superior to
the national income as an indicator. The experts of UNO (United Nations
Organization) have recommended per capita income as an indicator of
economic development.
• Just as national income if per capita income is high and if its rate of growth
is high, it can be said that development has taken place.
• If the country's per capita income rises at a faster rate, development is said
to be fast. lf per capita income grows at a slow rate, development is slow. If
per capita income is constant there is stagnation and if per capita income
falls, development is negative.
• Tabular Expression

Per Capita National Income Growth
Country Purchasing Power Parity, rate
2014 (In US $) (in %)
Norway 64,992 1.1

America 52,947 1.6
Sri 9,779 3.5
Lanka
China 12,547 6.7
India 5,497 6.0
Pakistan 4,866 2.6
Source: World Bank and Economic Survey, 2015-16

• It can be seen from the table that the per capita income of India in 2014, on
the basis of purchasing power parity is 5,497 US $ which is lower than
Norway, U.S., China, Sri Lanka. Compared to Norway, India's per capita
income is 11 to 12 times lesser and hence Norway's growth is said to be
higher than India's by 11 to 12 times. But the rate of growth of development
is faster as compared to Norway and America.
Conclusion:
• Thus, the above explanation informs how per capita computes economic
development of different nations. Due some drawbacks of per capita income
and national income, PQLI was introduced by Morris Davis Morris.
4. Explain in brief, the limitations of Physical Quality of Life Index.

Ans.
Introduction:
• Morris Davis Morris presented the physical quality of life index which is in
short known as PQLI. In this index betterment of physical quality of life of
human beings is considered as Economic development. The level of physical
quality of life determines the level of economic development. If any country's
physical quality of life is higher than that of the other country, then that country
is considered as more developed.
Limitations:
(i)Only three aspects are included and on their basis it cannot be categorically
stated, whether a country has actually developed or not. To get a correct
picture we need to include other factors also to the existing ones.
(ii)Only averages are depicted - The values obtained from three indicators are
divided by 3 to obtain PQLI which is in the form of average. Average of

three aspects of a country does not show the prominence or backwardness of
each indicator. Decisions cannot be made on the basis of averages.
(iii)If a country's present PQLI is high, it cannot be generalized that the
economic development is high as against other countries.
(iv)It is not right to give equal weightage (100) to all indicators. All three
aspects do not have same importance in human life.
(v)Growth of income has high importance in physical quality of life index and
ignoring that is not possible.
(vi)The PQLI of rich countries rise at a slower rate because average life cannot
increase beyond a particular limit.
Conclusion:
social and psychological characteristics suggested in the terms 'quality of
life'.
5. At present, India is growing or developing or both. Give answer by
stating reasons.
Introduction:
• A country having an effective rate of industrialization and individual income
is known as Developed Country.
• Developing Country is a country which has a slow rate of industrialization
and low per capita income.
Explanation:

• Today India is considering as fastest developing nation of the world.
• If we look at the growth data, then India's national income in2014 has grown
by 7.4%. This is much higher than even the most of developed nations of
Norway and America.
• Similarly, if we look at per capita income, then India's per capita income has
grown by 6% in 2014. Percentage growth of India's per capita income is
high as compared to developed nations of Norway and America which lie at
1.1% and 1.6% per capita income growth rate.
• Looking at these figures one may surely say that India has done a lot of
economic growth. Buy, by this we cannot say that India is a developed
nation.
• The Human Development Index of 2014 says that India's HDI is 0.609 and it
stood at 130th position out of 180 countries. This is quite far than countries
Norway and America whose growth of national income and per capita
income is quite less than India. In this regards we can say that tough India
has made good growth in its economy its lacks far behind in the
development.
• Although economics development is taking place in India today, there is not
much improvement in the standard of living of people.
Conclusion:
• Hence, India is still developing nation who has to travel long before earning
a title of a developed nation.
*Answer the following questions in detail:

1. Explain with the help of examples, the difference between eco
growth and economic development
Ans.
Economic Development Economic Growth

(1) Economic Development is a process. (1) Economic growth is an occurrence.
(2) In Economic development (2) In Economic growth quantitative change
quantitative and qualitative changes occur.
take place. (3) In Economic growth, emphasis is on the
(3) In Economic development the question distribution of available resources.
of utilization of unutilized resources (4) Economic growth is related to developed
arises
countries.
(4) The concept of Economic
(5) It is easy to measure economic growth.
development is related to developing
countries. (6) The concept of growth is narrow.
(5) Economic development is difficult (7) Economic growth is only related to
to measure. increase in per capita income.
(6) The concept of development is broad. (8) Economic growth is a rapid process.
(7) Economic development is related to (9) Economic growth is possible without
distribution along with per capita income. economic development.
(8) Economic development is a slow process.
(9) Economic development is not possible
without economic growth.
2. Explain an improvement in the Physical Quality of Life Index as an

indicator of economic development.
Ans.
Introduction
• The objective of economic development is to improve the standard of living
of the people. For that, if economic development has taken place, and how

much more or less is to be measured and for this physical quality of life
index as an indicator is accepted.
Explanation:
quality of life determines the level of economic development. If any
country's physical quality of life is higher than that of the other country, then
that country is considered as more developed
• Morris included three indicators or say determinants for measuring the
PQLI. These determinants are (i)Literacy, (ii)Life Expectancy and (iii)
Infant Mortality Rate
• Thus, PQLI =Literacy levels + Life expectancy index + Infant mortality rate
divided by 3.
Three Determinants of Physical Quality of Life Index:
Life Expectancy
Literacy level of the country Number of years a child is During a year number
determines situation of expected to live at the time of infants who die before
education. The percentage of birth is known one year out of 1000
of population educated out as life expectancy. It shows births is known as infant
of the total population the average life. If life mortality rate. If infant mortality
determines the extent expectancy rises it can be rate falls, it can be said that
of education said that the medical services health care services of the
of the country is good. country is good.
PQLI = Literacy level + I.ife expectancy index Infant mortality index
• PQLI is always between 0 to 100.

the country.PQLI Closer to 0, bad is the performance of all the 3 indices of
PQLI of the country.PQLI is always between 0 to 100.
• PQLI can be used to compare two states within the country or two different
countries.
Conclusion:
• Due to certain limitations, after 2003, there more aspects were included in
PQLI and Quality Life Index was prepared in the world
3. What are the factors included in the human development index†

Explain them?
Ans.
Introduction:
• The most recent indicator of development is the Human Development Index.
United Nations Development Programme (UNDP) presented the Human
Development Report (HDR) in 1990.
• Improvements were introduced in the year 2010 in the minimum and
maximum values which were used to measure HDI since 1990.
• Determinants of Human Development Index:

Three factors alone are considered while preparing HDI to make it simple and
easy. Instead of absolute values, average of all the three values are prepared:
(1) Life expectancy. (2) Educational achievements (knowledge) data depicts
social achievements. (3) Income data depicts the standard of living which in
turn shows the economic achievements.
Importance Aspects:
• The value of HDI ranges from 0&1
• The maximum value of HDI is 1 which is based on three standards namely
life expectancy, knowledge and good standard of living.
• The country whose HDI data is closer to 1 is considered more developed. It
gets higher in ranking in HDI.
• The country whose HDI value is away from 1 is considered less developed.
It gets higher ranking in HDI

Conclusion:
• Hence the above brief information explains the meaning, ranking and
indicators of HDI
• Apart from that, Improvements were introduced in the year 2010 in the
minimum and maximum values of HDI.Since then the new values were used
to measure HDI
4. Compare PQLI and HDI and show which indicator is superior?

Why? Ans.
Introduction:
quality of life determines the level of economic development.
• The most recent indicator of development is the Human Development Index.
United Nations Development Programme(UNDP) presented the Human
Development Report (HDR) in 1990.
Explanation:
social and pscylogical characteristics suggested in the terms 'quality of life'.
• The UNDP has defined Human Development as "a process of enlarging
people's choices”. This depends not only income but also other social
indicators. In contrast to PQLI considered social indicators separately.

• The three basic indicators are: longevity, knowledge is measured by
combination of adult literacy rate and standard of living is measured by GDP
per capita
• Before the HDI is computed, an index needs to be created for each
dimensions, the life expectancy index, education index and income index.
Performance of each dimension is expressed as a value between 0&1
• The literacy index and gross enrolment index are given two-third and one
third weightage respectively to arrive at the education index. The HDI is
calculated as a simple average of the three.
• Countries are then classified into three categories (i)High human
development(ii)Medium human development (iii)Low human development.
• The beauty of HDI is that once the increase in income passes the cut-off
point, it is faced with diminishing returns and this makes it necessary to let
growing concerns among nations, regarding human development.
• The HDI, unlike other indices which measure absolute levels, ranks
countries in relation to each other. The index takes the progress made from
the minimum towards maximum.
• The distance travelled is expressed in percentage terms. A clear picture
emerges of the wide disparities that exist in the levels of human
development between developing and developed nations.
• The same exercise is repeated in respect to the other two continents of the
index. The distance travelled in each case is the used as the basis for
combining the three devices, and this gives a common denominator to rank
countries on a uniform scales.
Conclusion:
• Thus, looking to the overall manner in which HDI is computed and the
indicators that is considers we can rightly say that HDI is better over PQLI
5. Explain in short the indicators of economics development.
Ans.
Introduction
• A numerical value that shows the progress that a country has made in areas
such as health, education, gender, income, etc. is known as indicator of
development
• These indicators work as measuring rod or standards to understand whether
a country has made progress or not and if yes then how far.
• These indicators which measure the rate of economic development and its
extent can be presented in numerical and statistical terms.
(i)National income
• According to this indicator, a country is said to have attained economic
development if there is a continuous increase in the real national income of
the country for a long period of time.
• If the rate of rise in national income is high the development rate is said to
be high and if national income increases at a lower rate, the rate of
development is low.
• If the national income does not rise it depicts the state of stagnancy and if
national income decreases, there is underdevelopment or negative
development.
(ii)Per Capita Income:
• According to this indicator real income and not money income is taken into
consideration and hence national income is calculated not at current prices
but at constant prices.
• According to this indicator, when the per capita income of a country
increases for a long period continuously, it can be said that economic
development has taken place. Per capita income is average income per head.
Per capita income is gross national income of a country divided by the
population of that country. This indicator takes into account the population

of the country too, and hence per capita income as an indicator is superior to
the national income as an indicator. The experts of UNO (United Nations
Organization) have recommended per capita income as an indicator of
economic development.
• Just as national income if per capita income is high and if its rate of growth
is high, it can be said that development has taken place.
• If the country's per capita income rises at a faster rate, development is said to
be fast. lf per capita income grows at a slow rate, development is slow. If per
capita income is constant there is stagnation and if per capita income falls,
development is negative
(iii)POLI- Physical Quality of Life Index:
quality of life determines the level of economic development. If any
country's physical quality of life is higher than that of the other country, then
that country is considered as more developed.
the country. PQLI Closer to 0, bad is the performance of all the 3 indices of
PQLI of the country. PQLI is always between 0 to 100.PQLI can be used to
compare two states within the country or two different countries.
• POLI have three determinants (i)Literacy (ii)Life Expectancy (iii)Infant
Mortality Rate.
• Thus POLI =Literacy levels + Life expectancy index +Infant mortality rate
divided by 3.
(iv)Human Development Index:
The most recent indicator of development is the Human Development Index.
United Nations Development Programme (UNDP) presented the Human
Development Report (HDR) in 1990. In that report Human Development
Index was presented as a measurement of development. Three factors alone
are considered while preparing HDI to make it simple and easy. Instead of
absolute values, average of all the three values are prepared: (1) Life
expectancy. (2) Educational achievements (knowledge) data depicts social
achievements. (3) Income data depicts the standard of living which in turn
shows the economic achievements.
• The maximum value of HDI is 1 which is based on three standards. The
value of HDI ranges from 0to 1.
• That country whose HDI is closer to 1 is considered more developed. It gets
higher ranking in HDI.
• That country whose HDI is farther from 1 is considered less developed. It
gets lower ranking in HDI.
Conclusion:
• Thus, the above information consists different indicators which computes
economic development of various countries and make comparison too.

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RECONCILIATION BY PRAMILA TEKWANI

*Choose the correct option for the following questions:

(c) Backward countries (d) Third world countries

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*Answer the following questions in one line :

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*Answer the following questions in short:

2. State the limitations of per capital income as an indicator.

Ans. The limitations of Economic Growth are :

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*Give answers to the point for the following questions:

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2. Discuss national income as an indicator of economic development.

Annual Growth Rate of National Income in

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Norway 64,992 1.1

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4. Explain in brief, the limitations of Physical Quality of Life Index.

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*Answer the following questions in detail:

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2. Explain an improvement in the Physical Quality of Life Index as an

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• PQLI is always between 0 to 100.

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3. What are the factors included in the human development index†

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4. Compare PQLI and HDI and show which indicator is superior?

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