The correct answer is Future economic development with the development of the present generation.

Key Points

• Sustainable Economic Development is a national initiative built on local economies' unique assets to address their individual challenges and provide quantifiable real-world benefits.
• It is a practical, implementable toolkit that tailors strategies to work for local people, businesses, and institutions. 
• The aim of sustainable development is to balance our economic, environmental, and social needs, allowing prosperity for now and future generations. It includes social progress and equality, environmental protection, conservation of natural resources, and stable economic growth.
• The main features of sustainable development are respect and care for all kinds of life forms, improves the quality of human life, minimizes the depletion of natural resources, and enables the communities to care for their own environment.

Additional Information

• Industrial development enables the environment to tackle inequalities among and within countries either developed or developing, accelerates structural transformation and social mobility, provides new jobs and additional income, and reduces social exclusion. 
• Industrialization causes the income of people to rise and improves their standard of living.
• There is a rise in income, and so the rate of savings, rate of investment, and rate of spending also rise automatically. 
• Capital investment, labour input, financial investment, and technological progress are factors that affecting the growth of the industrial economy.
• Agricultural development is one of the most powerful tools to end extreme poverty, boost shared prosperity and feed a projected 9.7 billion people by 2050.
• Growth in the agriculture sector is two to four times more effective in raising incomes among the poorest compared to other sectors.
• Agriculture plays a critical role in the entire life of a given economy.
• Agriculture is the backbone of the economic system of a given country.
• In addition to providing food and raw material, agriculture also provides employment opportunities to a very large percentage of the population.

The correct answer is Push factors.

Key Points

• People, generally, are emotionally attached to their place of birth. But millions of people leave their places of birth and residence. There could be a variety of reasons.
• These reasons can be put into two broad categories :
  • Push factors: these cause people to leave their place of residence or origin.
  • Pull factors: which attract the people from different places.
• In India people migrate from rural to urban areas mainly due to poverty, high population pressure on the land, lack of basic infrastructural facilities like health care, education, etc.
• Apart from these factors, natural disasters such as, flood, drought, cyclonic storms, earthquake, tsunami, wars and local conflicts also give extra push to migrate.
• On the other hand, there are pull factors which attract people from rural areas to cities. The most important pull factor for a majority of the rural migrants to urban areas is the better opportunities, availability of regular work and relatively higher wages.
• Better opportunities for education, better health facilities and sources of entertainment, etc., are also quite important pull factors.
• On the basis of the figures, it can be seen that the reasons for migration of males and females are different.
• For example, work and employment have remained the main cause for male migration (26 per cent) while it is only 2.3 per cent for the females.
• Contrary to this, about 67 percent of females move out from their parental houses following their marriage.
• This is the most important cause in the rural areas of India except in Meghalaya where reverse is the case.

Option 1 is NOT correct.

The change of place of residence for a long period of time is known as migration.

• Migration of people is related to changes in the social, political, and economic environment in the region of origin or the receiving region.
• The push and pull factors operate together for a person to migrate.
  • The push factors make the place of origin less attractive and compel a person to migrate because of unemployment, poverty, violence, political strife etc.
  • The pull factors make the place of destination seem more attractive such as better living condition, educational and cultural development, regular work, high wages etc.
  • Adults are more likely to migrate than any other age group.
  • Rural to urban migration is far the major portion of migration. It is because of growing urbanisation.
  • The migration affects the overall population of the region. Hence, Option 1 is NOT correct.

People often confuse and interchangeably use the terms economic growth and development because both sound synonymous. However, growth and development mean different things.

Important PointsThe differences between Growth and development are:

• Economic growth is single-dimensional whereas economic development is multi-dimensional.
• Economic growth is measurable, but economic development cannot be precisely measured. 
• Growth shows quantitative changes in the form of national and per capita income while development is qualitative and is shown through composition and distribution of national income.
• Economic growth faces discontinuous, spontaneous changes while development sees Continuous, steady, planned changes.
• Focus on economic growth by a government is a solution for the developed countries. For developing countries, the focus should be on economic development. 
• Growth includes only monetary and profit-oriented factors while development focuses on the health index, human resource development index and other forms of non-monetary factors.
• Growth is a prerequisite to economic development. 

​Hence both statements I (single-dimensional and multi-dimensional) and II (measurable and non-measurable) are correct differences between Economic growth and development.

Urbanization can define as, the increasing concentration of the human population into cities, i.e. the physical growth of rural or natural land into urban areas as a result of the population in-migration to an existing urban area. 

• The most important cause of urbanization is rural-urban migration.

Important PointsReasons for Urbanization:

• Social factors:
  • There are numerous social benefits attributed to life in cities and towns.
  • People get better facilities in an urban area like education, sanitation, housing, health care, recreation, and living standards to lead a good social life in general.
  • Due to these reasons, more and more people are prompted to migrate into cities and towns to obtain a wide variety of social benefits and services which are not presently available in rural areas.
• Employment opportunities:
  • In cities and towns, there are ample job opportunities that continually draw people from rural areas to seek a better livelihood.
  • Therefore, the majority of people frequently migrate into urban areas to access well-paying jobs as urban areas have countless employment opportunities in all developmental sectors such as public health, education, transport, sports and recreation, industries, and business enterprises.
• Modernization and changed lifestyle:
  • Modernization and drastic change in today’s lifestyle of people play a very important role in the process of urbanization.
  • Nowadays, urban areas are becoming more technology savvy with highly sophisticated communication, infrastructure, medical facilities, dressing code, enlightenment, liberalization, and social amenities availability.
  • Most people have a view in their minds that they can lead a better and happy life in cities.
  • As a result, people are migrating towards the cities, and the cities are growing rapidly by absorbing more and more people day after day.

Thus, Urbanization is the result of a migration of population from villages to cities.

Explanation:

Organisation for Economic Cooperation and Development (OECD):

• OECD is a kind of intergovernmental economic organization.
• This organization is made up of 38 member countries like Australia, Germany, the USA, and New Zealand.
• This organization was established in 1961 and the headquarters of this organization is present in France.
• The member of these countries is mainly high-income economies with high human development index.
• They are regarded as developed countries.
• These forum countries are committed to democracy and the market economy.
• They provide a platform for policy experiences and coordinate domestic and international policies of its members.

Important Points

Objectives of OECD:

• OECD help in social development and ensure the environmental impact of growth.
• They have also helped to raise the standard of living in multiple countries over the year.
• It has also helped in the promotion of economic stability and contribution to the expanses of world trade.

Thus, in 1961 was the Organisation for Economic Cooperation and Development (OECD) founded.

Concept:

Economic development:

• In the economy economic development is the process by which we can improve the economic welfare.
• Economic development can improve the national welfare by enabling a greater range of social services and a stronger economy.
• Economic development includes policymakers and communities that promote the standard of living and economic health of a specific area.
• Such actions include the development of human capital, critical infrastructure, regional competitiveness, social inclusion, health, safety, literacy and other actions.
• For example in an undeveloped country, their main economy will be primarily based on agriculture.
• In an undeveloped country, there will be a very low amount of social services like health care, education etc.

Explanation:

Indicator of economic development:

Literacy rate:

• ​In a population literacy rate is mainly defined as the percentage of people that can read and write.
• When people are provided with good literacy they can get a chance for better employment.
• Through high literacy, a population growth rate leads to decreased population. 
• Literate citizens are also more aware of financial investment and other staff like that, which help them with the economy.

Life expectancy:

• When economic development happens it generally raises the life expectancy level.
• So we can show that improving the economic condition is an important force behind mortality decline.
• When a country's standard of living increases due to high economic development it also helps to increase the life expectancy of a population.

Poverty rate:

• ​​Through high economic development, we can reduce the poverty rate because development has a very low impact on income equality.
• With high or rising per capita income we can reduce the poverty rate.

Thus, the indicators of economic development are literacy rate, life expectancy, and poverty rate. So, all options are correct.

Important Points 

Other indicators of economic growth:

• Real GDP per capita.
• GDP at purchasing power parity.
• Malnutrition level.
• Access to safe water.
• Quality of nation's infrastructure.

Additional Information

Economic growth:

• Economic growth is a phenomenon of market productivity and rise in GDP.
• It increases private incomes and also generates additional resources like better healthcare, and safe drinking water.
• Poor countries have sometimes experienced economic growth with little or no economic development, by providing resources to wealthy industrialised countries.

Concept:

Migration:

• When people move from one place to another, the place they move from is called the place of origin and the place they move to is called the place of destination.
• The place of origin shows a decrease in population while the population increases in the place of destination.
• Migration may be permanent, temporary or seasonal.
• It may take place from rural to rural areas, rural to urban areas, urban to urban areas and urban to rural areas.
• Migrants who move into a new place are called immigrants.
• Migrants who move out of a place are called emigrants.
• People migrate for a better economic and social life. 

Explanation:

Neoclassical Economic Theory of migration:

• This is migration theory that believes that wage difference between two geographical locations is the main reason for labour migration.
• Geographical labour demands are mainly linked with this wage difference.
• We can say that an area with a high relative wage and excess of capital can have a shortage of labour while an area with low capital and low relative wage also can have a high labour supply.
• Here labour tends to flow from low wage areas to high wage areas.
• It is an economic theory that can best describe as transnational migration because it did not confine to international immigration law and governmental regulation.

Thus, the Neoclassical Economic Theory of migration is the migration of labour from low wage areas to high wage areas due to geographic labour demand and supply.

Concept:

Migration:

• When people move from one place to another, the place they move from is called the place of origin and the place they move to is called the place of destination.
• The place of origin shows a decrease in population while the population increases in the place of destination.
• Migration may be permanent, temporary or seasonal.
• It may take place from rural to rural areas, rural to urban areas, urban to urban areas and urban to rural areas.
• Migrants who move into a new place are called immigrants.
• Migrants who move out of a place are called emigrants.
• People migrate for a better economic and social life. 

Urbanization:

• Urban areas are characterised by high human population density and vast human-built features.
• Urban areas are like cities or towns, developed by the process of urbanisation.

Explanation:

Third world country:

• Nations are categorised on the basis of social, political, cultural and economic divisions.

• The term 'Third World' arose during the cold war to define countries that remained non-aligned with neither North Atlantic Treaty Organisation nor Communist Block such as Yugoslavia. 
• In today's world, third world country roughly describes as those which are developing.
• The third world was seen to include many countries with colonial pasts in Africa, Latin America, Oceania and Asia.

Important Points

The world is split into two large geopolitical blocs and spheres after World War II:

First world country:

• First world country refers to the countries which are capitalist industries and develop in the world.
• These countries are aligned with the United States after World War II.
• Examples of some first world countries are North America, Japan, Australia etc.

Second world country:

• The former communist-socialist industrial states are mainly referred to as second world countries.
• Examples of some second world countries are Russia, China, and Polland.

Thus, Poland is not a  third world country.