Notes of economics chapter 1 immediately …

Of course! Here are some key notes for Chapter 1: Development in Economics: ### Introduction to Development - **Development:** The process of improving the quality of life and living standards of people. - **Key Indicators:** GDP per capita, literacy rates, life expectancy, etc., are used to measure development. ### Sustainable Development - **Sustainable Development:** Meeting the needs of the present without compromising the ability of future generations to meet their own needs. - **Economic, Social, Environmental Aspects:** Balancing economic growth, social inclusion, and environmental sustainability. ### Economic Development - **Economic Development:** Increase in the standard of living of a population. - **Factors:** Education, healthcare, infrastructure, technology, political stability, etc., contribute to economic development. ### Human Development - **Human Development Index (HDI):** Measures a country's average achievements in three basic aspects of human development: health (life expectancy at birth), education (mean years of schooling, expected years of schooling), and standard of living (GDP per capita). ### Millennium Development Goals (MDGs) and Sustainable Development Goals (SDGs) - **MDGs (2000-2015):** 8 international development goals focused on reducing poverty, hunger, gender inequality, etc. - **SDGs (2015-2030):** 17 global goals to achieve a better and more sustainable future for all, addressing poverty, inequality, climate change, etc. ### Economic Growth vs. Economic Development - **Economic Growth:** Increase in a country's output of goods and services over time. - **Economic Development:** Broadening of people's choices and opportunities, along with an increase in their well-being. ### Factors Affecting Development - **Historical Factors:** Colonialism, wars, etc. - **Social Factors:** Education, healthcare, gender equality. - **Economic Factors:** Infrastructure, industrialization, investment. - **Political Factors:** Stability, governance, corruption. These notes should give you a good overview of Chapter 1 on Development in Economics!

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Describe the vertical distribution of power

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