what are the features of development
Answers
Answer:
development mean any upgrades
in features
like one floor building can upgrades like 2,
Explanation:
It emphasizes three basic features of economic development: (а) Economic development is a process. (b) The process results in the rise in 'real national income'. ... (c) Real Income must be sustained over a 'long period of time'.
Economic development is the process by which a nation improves the economic, political, and social well-being of its people. The term has been used frequently by economists, politicians, and others in the 20th and 21st centuries. The concept, however, has been in existence in the West for centuries.
Following are the characteristics of development:
1. Different peole can have different developmental goals.
2. Development for one may not be a development for other.
3. Capita income is the most important factor to calculate development.
The rational expectations theory is an economic concept whereby people make choices based on their rational outlook, available information and past experiences. The theory suggests that the current expectations in an economy are equivalent to what people think the future state of the economy will become.