Define sustainable development.
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Solution and Explanation
Step 1: Basic Understanding
The term "sustainable development" combines two important ideas:
- Sustainability: The ability to continue over time without harm.
- Development: Progress in economy, society, and technology.
Step 2: UN Brundtland Commission Definition
The most widely accepted definition was given in 1987 by the World Commission on Environment and Development (Brundtland Commission): \[ \text{Sustainable Development} = \text{Meeting the needs of the present} \; \text{without compromising the ability of future generations}. \]
Step 3: Key Dimensions
Sustainable development rests on three pillars:
- Economic sustainability: Continuous economic growth and productivity.
- Social sustainability: Equity, social justice, and cultural preservation.
- Environmental sustainability: Protection of natural resources and ecosystems.
Conclusion:
Hence, sustainable development is a holistic approach that balances environmental protection, social well-being, and economic progress for both present and future generations.
Top GATE XH-C1 Economics Questions
- In microeconomics, opportunity cost refers to:
- Consider a simple Keynesian closed economy model with the following information:
The Marginal Propensity to Consume (MPC) is 0.9 and the initial level of saving is INR 120. When income rises by INR 100, then the new level of saving will be INR ____________ (in integer). - Consider a two-person exchange economy where two goods, \( x \) and \( y \), are available in limited quantities of 50 and 100, respectively. The preferences of the two persons, Anil and Binod, are given by the utility functions: \[ U_{{Anil}}(x_{{Anil}}, y_{{Anil}}) = x_{{Anil}}^{0.4} y_{{Anil}}^{0.6} \] \[ U_{{Binod}}(x_{{Binod}}, y_{{Binod}}) = x_{{Binod}}^{0.6} y_{{Binod}}^{0.4} \] If they decide to share good \( y \) equally among themselves, the amount of good \( x \) Anil receives is ______________ (in integer).
- Consider the following Harrod-Domar growth equation: \[ \frac{s}{\theta} = g + \delta \] where \( s \) is the saving rate, \( \theta \) is the capital-output ratio, \( g \) is the overall growth rate, and \( \delta \) is the capital depreciation rate. If \( \delta = 0 \) and \( s = 20% \), then to achieve \( g = 10% \), the capital-output ratio will be ________ (in integer).
- Let \( Y \) be income, \( r \) be the interest rate, \( G \) be government expenditure, and \( M_s \) be money supply. Consider the following closed economy IS-LM equations with a fixed general price level (\( \bar{P} \)): IS equation: \[ Y = 490 + 0.6Y - 4r + G \] LM equation: \[ \frac{M_s}{\bar{P}} = 20 + 0.25Y - 10r \] If \( G = 330 \) and \( \frac{M_s}{\bar{P}} = 500 \), then the equilibrium \( Y \) is ________ (round off to one decimal place).
Top GATE XH-C1 Reading Comprehension Questions
- How can businesses benefit from green finance?
- GATE XH-C1 - 2024
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- State the public project areas where Sovereign Green Bonds are focused.
- GATE XH-C1 - 2024
- Economics
- Reading Comprehension
- Read the following passage carefully:
1. India has aimed to reduce the country’s carbon intensity by approximately 45 percent by 2030. To achieve this, ‘Green finance’ plays a vital role. At the initial stages, green finance needs a big push from the government. The Indian government has identified projects worth Rs. 25,000 crore that will be financed by proceeds from Sovereign Green Bonds.
2. According to the framework approved by the finance ministry, the sovereign green bonds will focus on financing public projects including renewable energy, climate change, clean transportation, sustainable water and waste management, and pollution control.
3. Businesses that take green finance can benefit in various ways. It can help them follow different environmental norms and regulations, thus avoiding possible fines. Adopting sustainable developmental practices enhances the brand value of businesses. Customers tend to prefer brands that adopt clear sustainable development practices. The energy-efficient and other sustainable development practices promoted by green finance also often help in saving costs and boosting the profitability of businesses.
4. -The Economic Times, April 22, 2023 (Modified) On the basis of the given text and common understanding, answer the following questions:- GATE XH-C1 - 2024
- Economics
- Reading Comprehension
- "New Economic Policy 1991 altered the role of Reserve Bank of India (RBI) in the economy." Justify the given statement with valid explanation.
- GATE XH-C1 - 2024
- Economics
- Reading Comprehension
Read the following statements: Assertion (A) and Reason (R). Choose the correct alternative from those given below:
Assertion (A): India could not develop a sound Industrial-base during the British rule.
Reason (R): Britishers followed restrictive trade policies, which strengthened Indian handicraft industries.- GATE XH-C1 - 2024
- Economics
- Reading Comprehension
Top GATE XH-C1 Questions
- In microeconomics, opportunity cost refers to:
- GATE XH-C1 - 2026
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Here are two analogous groups, Group-I and Group-II, that list words in their decreasing order of intensity. Identify the missing word in Group-II.
Abuse \( \rightarrow \) Insult \( \rightarrow \) Ridicule
__________ \( \rightarrow \) Praise \( \rightarrow \) Appreciate
Eight students (P, Q, R, S, T, U, V, and W) are playing musical chairs. The figure indicates their order of position at the start of the game. They play the game by moving forward in a circle in the clockwise direction.
After the 1st round, the 4th student behind P leaves the game.
After the 2nd round, the 5th student behind Q leaves the game.
After the 3rd round, the 3rd student behind V leaves the game.
After the 4th round, the 4th student behind U leaves the game.
Who all are left in the game after the 4th round?
- Which one of the following plots represents \( f(x) = -\frac{|x|}{x} \), where \( x \) is a non-zero real number?
Note: The figures shown are representative. The 12 musical notes are given as \( C, C^\#, D, D^\#, E, F, F^\#, G, G^\#, A, A^\#, B \). Frequency of each note is \( \sqrt[12]{2} \) times the frequency of the previous note. If the frequency of the note C is 130.8 Hz, then the ratio of frequencies of notes F# and C is: