Question

2. Which of the following explains the term economic development?
a. Improvement in the technology involved
b. Improvement in production
c. Improvement in distribution system
d. All the above.
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Answer 1

Answer:

Explanation:

Economic growth is an increase in an economy's production of ... product (GDP), although alternative metrics are sometimes used. ... technology, and human capital can all contribute to economic growth. ... method of producing economic growth is technological improvement. ... Supply-Side Economics...Economic Development is the process by which an economy is transformed from one whose rate of growth of per capita income is small or negative, to one in which a significant self-sustained rate of increase of per capita income is a permanent and long term feature".

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Answer 2

Answer:

D. All the above.

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