Briefly explain objectives of economic development
Answers
Answer:
The aim of economic development is to improve the material standards of living by raising the absolute level of per capita incomes. Raising per capita incomes is also a stated objective of policy of the governments of all developing countries.
The main objective of Indian planning is to achieve the goal of economic development economic development is necessary for under developed countries because they can solve the problems of general poverty, unemployment and backwardness through it.
Explanation:
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Answer:
The goal of economic development is to raise the absolute rate of per capita earnings to enhance material standards of living. Increasing per capita incomes is a declared policy goal of all developing-country administrations.
Explanation:
Some of the main government aims for the economy and economic development are as follows:
- Full Employment
- Price Stability
- Economic Growth
- Redistribution of Income
- Balance of Payments Stability.
The key government economic goals are full employment, price stability, economic growth, income redistribution, and balance-of-payments stability. A government can use a variety of policy measures to attain these goals, and its success or failure is evaluated.
However, economic performance is impacted by factors other than government actions. In an increasingly global market, the macroeconomic performance of one economy is increasingly influenced by the dynamics of other economies.
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