Question

Match the items given in Column-I with the correct pair given in Column-II-

Choose the correct answer from the options given below-

• A. a-I, b-II, c-III, d-IV, e-V
• B. a-II, b-III, c-IV, d-V, e-I
• C. a-III, b-IV, c-V, d-I, e-II
• D. a-IV, b-V, c-I, d-II, e-III

Hint:

Quick distinction: Growth = GDP, Development = quality of life, Human capital = education + health investment.

Answer 1

The Correct Option is A

Concept: Economics distinguishes between quantitative indicators like growth and qualitative indicators like development, along with foundational concepts such as human capital, poverty, and inequality which describe structural conditions of an economy.

Step 1: Economic growth (a) Economic growth refers to the

quantitative increase in output of an economy over time, most commonly measured through GDP. \[ (a) \rightarrow (I) \]

Step 2: Economic development (b) Economic development refers to

qualitative improvement in living standards, including health, education, and income distribution. \[ (b) \rightarrow (II) \]

Step 3: Human capital (c) Human capital refers to the stock of skills and knowledge in a population, built through

investment in education and health. \[ (c) \rightarrow (III) \]

Step 4: Poverty (d) Poverty is defined as a condition of

lack of minimum consumption requirements such as food, shelter, and basic services. \[ (d) \rightarrow (IV) \]

Step 5: Inequality (e) Inequality refers to the

uneven distribution of income and wealth among individuals in a society. \[ (e) \rightarrow (V) \]

Final Matching \[ a-I,\quad b-II,\quad c-III,\quad d-IV,\quad e-V \] Thus, Option A is correct.