what is meant by economic development? what are the 2 basis of economic development?
Answers
Answered by
8
Answer:
Economic development means the rate of production is greater than the rate of increase in population and the rate of growth of GDP is high enough to fulfil the basic needs of the population. Two bases of measuring development of a country are : (i) Average or per capita income.
Explanation:
IF YOU LIKE MARK BRILLIANT
AND FOLLOW ME
Answered by
4
Answer:
when the growth rate of production of goods and services exceeds population growth rate we call it economic development. The two bases of measuring economic development are i) national income ii) per capita income
i) Average or per capita income.
(ii) National income and public facilities.
Similar questions
English,
3 months ago
Social Sciences,
3 months ago
Science,
3 months ago
Psychology,
7 months ago
Science,
10 months ago
Math,
10 months ago