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What is Sustainable Development? - Economics

Answer in Brief

What is sustainable development?

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Solution

Meeting the basic needs of all that requires distribution of resources is our moral responsibility. It becomes a moral obligation to hand over the earth to the future generation in good order. But, it is realised that if the resources (non renewable) are utilised fully then these will deplete so fast that it will not meet the production capacity of the future generation. The economic development achieved today in such manner cannot be sustained for a long time as the production capacity of the future generations in absence of productive resources reduces. Therefore, sustainable development is the process of economic development that aims at meeting the needs of the present generation without comprising the needs of the future generations. Sustainable development maximises welfare of both present and future generations. In other words, it is that process of economic growth that is sustained over a long period of time without causing any fall in quality of life of the future generations.

Concept: Sustainable Economic Development Meaning
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APPEARS IN

NCERT Class 12 Economics - Indian Economic Development
Chapter 9 Environment and Sustainable Development
Exercise | Q 17 | Page 177
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