Question

How is economic devolepment
measured ? (class 10)​

Answer 1

Economic development means the rate of production is greater than the rate of increase in population and the rate of growth of GDP is high enough to fulfil the basic needs of the population. Two bases of measuring development of a country are : (i) Average or per capita income.

Answer 2

Answer:

growth of the standard of living of a nations people from a low-income (poor) economy to a high-income (rich) economy. When the local quality of life is improved, there is more economic development. When social scientists study economic development, they look at a lot of things