what is economic development
Answers
Answer:
In the economic study of the public sector, economic and social development is the process by which the economic well-being and quality of life of a nation, region, local community, or an individual are improved according to targeted goals and objectives.
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Answer:
Economic development is defined by Wikipedia as “the process by which a nation improves the economic, political, and social well-being of its people.” Like we said, it's a broad scope. ... This means a focus on innovation, skills and infrastructure, as well as overall economic growth.
Explanation:
In order for any community to survive, its citizens must have employment opportunities, and its government must be able to generate revenue to provide services. Economic development, if done effectively, works to retain and grow jobs and investment within a community.