- Economic theories of balanced growth often refer to proportional development across different sectors of the economy (e.g., industry and agriculture) or proportional growth of factors like capital and labor. - However, in a broader sense, "balanced growth" can imply achieving growth that is sustainable and equitable. - Option A suggests balancing economic expansion (income, output) with environmental considerations (natural resources), hinting at a sustainable growth path where resource depletion doesn't outpace resource replenishment or efficiency gains.
Balanced growth rate aims at
Asked in MPSC CS Prelims 2023 · Topic: Sustainable Economic Development (Concept and Evolution of Sustainable Development)
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Answer: A. equality between growth rate of income, growth rate of output and growth rate of natural resources
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