Question

what are the advantages of economic development what are the disadvantages of economic development​

Answer 1

Advantages of economic development:-
* It increases consumer income
* lt increases variety of consumer goods and services
* lt increases leisure
* lt increases government revenue
* lt increases provision of public goods and merits goods
* lt promotes national prestige
* In short, it improves the living standard of people
Disadvantage of economic development
* lt increases social costs like pollution and congestion
* lt leads to exhaustion of non-replaceable resources
* Investment in capital goods reduces availability of consumer goods ( Opportunity Cost)
* It has fear of technological unemployment