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Economics

Why do different persons have different notions of development? Which of the following explanations is more important and why?

(a) Because people are different.

(b) Because life situations of persons are different.

Development

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Answer

Different persons have different requirements and needs according to their present situation. Their idea of development varies according to their requirement. For example, a business man may consider ease of doing business, a development while for a farmer, availability of agricultural inputs and easy marketing can be called as development. Therefore, according to me second explanation is more important.

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