2-What is meant by economic development?What are the two bases of measuring economic
development of the country?
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Answer:
Economic development means the rate of production is greater
than the rate of increase in population and the rate of growth of GDP is high
enough to fulfil the basic needs of the population.
Two bases of measuring development of a country are :
(i) Average or per
capita income.
(ii) National income and public facilities.
Explanation:
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