what is meant by economic development what the base 2 base measuring economic development of a country
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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.
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Economic development means the rate of production is greater than the rate of increase in population and the rate growth of GDP is high enough to fulfil the base needs of the population .Two base of measuring devopnent of a country are: (I) Average or per capita income.
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