What do you mean by economic development ? Explain features of underdeveliped economy?
Answers
Answered by
3
Growth and development. Economic growth deals with increase in the level of output, but economic development is related to increase in output coupled with improvement in social and political welfare of people within a country. Therefore, economic development encompasses both growth and welfare values.
Similar questions
Social Sciences,
7 months ago
Environmental Sciences,
7 months ago
Math,
7 months ago
Math,
1 year ago