What is meant by economic development? What are the two bases of measuring economic development of a country?
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Economic developing is a broder concept. It is for developing countries. It has scopes in the improvement in life expentancy, Infant Mortality Rate, Literacy Rate, Poverty rate, etc. It is the rise in the level of production in an economy along with the advancement of technology, improvement of the standard of living and so on.. It is a long term process... :)
- Meww
- Meww
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3
the 2 bases are :
per capita income of a person
gdp
per capita income of a person
gdp
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