economicsWhich is the most important component of development?

Which is the most important component of development?


  1. A
    Income
  2. B
    PCI
  3. C
    HD
  4. D
    None of these  

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    Solution:

    Income is the most important component of development.
    Income is the most important development component as it can buy material goods and services. Still, apart from income, people also seek equal treatment, freedom, security, respect for others, etc. This is because the quality of our lives depends upon material things like money, facilities, etc., and non-material things like an excellent working atmosphere, an opportunity to learn, job security, etc. Therefore, people look at a mix of goals for development apart from the income they want: respect, dignity, safety, security, and a pollution-free environment. Development goals include both economic growth and a better quality of life.
     
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