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1. It was observed that despite economic achievements, the living standard of their masses remained largely unchanged.
2. It was realised that the economic development alone cannot promote human development.
3. Consequently the concept of human development got expanded beyond economic development.
4. Human development is the process of both quantitative change and qualitative growth.
5. As a result the concept of Gross Domestic Product was enlarged to encompass the elements of human happiness.
6. It galvanised the social-economic structure for people’s development.
development of economy is economic development and development of humans are called human development
. Both are better
Economic development:it deals with per capita income or average income.it deals with only monitary aspects.it deals with an quantative aspect.it is a narrow concept.economic development report is issued by world bank by comparing countries based on per captia income.
Human development:it deals with education,health,standard of living rights of people.it includes monitary and non-monitary aspectsit deals with qualitative and quantiative aspect.it is broder concept.the human development report is recieved by union nation development programme(UNDP)countries based on education,health and per capita income.
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Economic Development : focuses on the economy as a whole. Human Development focuses on just the human aspect.
1. It is a boarder aspect of development as it includes monitary aspect.
2. It is the places of both qualitative and quantitative growth human development is end on final goals.
1.It is a narrow concept it is include only monitary aspect.
2. It includes only quantitative growth. It's means to achieve human development.
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The two-way relationship between economic growth and human development suggests that nations may enter either into a virtuous cycle of high growth and large gains in human development, or a vicious cycle of low growthand low rates of HD improvement.
1.a long time increase in per capita income along with rising standard of living is termed as economic development
2.it is measured by calculating the average income and per capita incomeh,
1.widening of choices and aspirations of people at to have them lead a life that they cherish
2.it is measured by components like educational level of people health status and per capita income
Economic developments refers to the improvement of the overall economic wealth of country.
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