Question

What is meant by economic development? What are the two bases of measuring economic development of a country?

Answer 1

Economic development is the rate of growth of production where people should increase their command over the goods and services and also the choices upon its varieties.

It is not meant to increase the rate of population. The increase in production directly enhances the economic condition of the country.

Two main bases are national income and per capita income.

Answer 2

Economic development
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Here is about Economic development
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The most simple Defination is
The rate or the increase in population and Growth in GDP is called the Economic development.

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Two bases of measuring economic development of a country

:-


1) National Income


2) Per capita Income