Question

What is meant by economic development ? Explain the various goals of development.​

Answer 1

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The goal of economic

development

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.

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Answer 2

Explanation:

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ECONOMIC DEVELOPMENT

Economic development is the growth of the standard of living of a nations people from a low-income (poor) economy to a high-income (rich) economy. When the local quality of life is improved, there is more economic development. When social scientists study economic development, they look at a lot of things.

GOALS:

The main goal of economic development is improving the economic well being of a community through efforts that entail job creation, job retention, tax base enhancements and quality of life.

The goal of economic development

The goal of economic developmentEconomic 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.

National economic goals include: efficiency, equity, economic freedom, full employment, economic growth, security, and stability.

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