Explain the meaning of economic development. Discuss important goals of economic developmen
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Economic development is a process undertaken by government entities--local, state, national, even transnational--rather than individuals or corporations. The goal is to improve the material well-being of people by economic means (as opposed to conquest or plunder).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.
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