What are the factors which are …

According to this classification, labour, capital, land or natural resources, technology, management etc., are considered economic factors and culture, religion, tradition etc. non-economic factors. There is still an ambiguity about the situation of knowledge - which has an important role in economic development.

Development is a process such that the rate of increase in national income is more than the increase in population. It is the betterment in the lives of the people and also rise in living standards of the people.

Characteristics of development

(i) Different people have different developmental goals.

(ii) What may be development for one may not be development for the other. It may be destructive for the other.

(iii) Income is the most important component of development, but along with income, people also seek equal treatment, good health, peace, literacy, etc.

(iv) For development, people look at mixed goals.