Economy, asked by Akshaja501, 1 year ago

Define the term economic development and state the 2 basis of measuring economic development of the country

Answers

Answered by Abhishek63715
1
It applies to the all around development of a country where people can earn higher income and can satisfy all their needs.
Economic development can be measured by
1. per capita income
2. national income.
Answered by RAHULSINGH122
1
economic development only refers to materialistic and monetary aspects . It includes quantitative growth.

2 basis of economic development are

1) Average Income of a country

2) Distribution of income

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