definition of development . class 10 economics
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the process of developing or being developed...........
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Development is a comprehensive term which include increase in real per capita income, improvement in living standard of people, reduction in poverty, illiteracy, crime rate, etc. Features.
or
Development is a comprehensive term which include increase in real per capita income, improvement in living standard of people, reduction in poverty, illiteracy, crime rate, etc. Features.
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The definition of development is provided below:
- Economic development is the growth and improvement of a country's economy, which includes not only the per capita income of its citizens but also the marked with standards of living for its citizens.
- People will have more choices for a great living if the economy produces more items, services, infrastructure, and technology.
- Also included in the development is not only materialistic progress, but also poverty reduction, increased employment, increased security for people, and access to fundamental requirements along with education and healthcare.
- When all of these factors are considered together and favourable results are obtained, it is said to be the development of the economy.
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