Question

what is economic development?

Answer 1

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. 

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Answer 2

Economic development is the process by which a nation improves the economic, political, and social well-being of its people.Economic development usually refers to the adoption of new technologies, transition from agriculture-based to industry-based economy, and general improvement in living standards.

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