Economy, asked by commander2742004, 1 year ago

What is meant by economic development?

Answers

Answered by prapti128
12
Economic development is the process by which nation improves the economic,political and social well-being of its people..
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Answered by Anonymous
9
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⏭️Economic development is the process by which a nation improves the economic, political, and social well-being of its people. ... Consequently, as economist Amartya Sen points out, "economic growth is one aspect of the process of economic development".
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❤️Economic development is the process by which emerging economies become advanced economies. In other words, the process by which countries with low living standards become nations with high living standards. Economic development also refers to the process by which the overall health, well-being, and academic level the general population improves.
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