\u2022 Economic development is the quantitative and qualitative change in an economy.<\/p>\n\n\n\n
\u2022 Economic development refers to the reduction and elimination of poverty, unemployment, and inequality with the context of growing economy.<\/p>\n\n\n\n
\u2022 Economic development means an improvement in the quality of life and living standards, e.g. measures of literacy, life-expectancy and health care.<\/p>\n\n\n\n
\u2022 Economic development includes process and policies by which a country improves the social, economic and political well-being of its people.<\/p>\n\n\n\n
\u2022 Economic development is multi-dimensional in nature as it focuses on both income and improvement of living standards of the people.<\/p>\n\n\n\n
\u2022 Economic development is concerned with the happiness of public life.<\/p>\n\n\n\n
\u2022 Economic development comes after economic growth. It is a positive impact of economic growth.<\/p>\n\n\n\n
\u2022 Economic development also refers to:<\/p>\n\n\n\n
\u2713 provision of sufficient and effective physical and social infrastructures<\/p>\n\n\n\n
\u2713 qual access to resources<\/p>\n\n\n\n
\u2713 participation of all in economic activities<\/p>\n\n\n\n
\u2713 equitable distribution of dividends of economy.<\/p>\n\n\n\n
\u2713 Economic development= Economic growth + standard of living<\/p>\n\n\n\n
\u2713 It refers to increase in productivity.<\/p>\n\n\n\n
\u2713 Indicators of economic development are:<\/p>\n\n\n\n
\u2206 Human Development Index (HDI)<\/p>\n\n\n\n
\u2206 Human Poverty Index (HPI)<\/p>\n\n\n\n
\u2206 Gini Coefficient<\/p>\n\n\n\n
\u2206 Gender Development Index (GDI)<\/p>\n\n\n\n
\u2206 Balance of trade<\/p>\n\n\n\n
\u2206 Physical Quality of Life Index (PQLI)<\/p>\n\n\n\n
\u2022 Economic development is the ends of development.<\/p>\n\n\n\n
\u2022 Achieving economic development is linked with end of poverty and inequality.<\/p>\n\n\n\n
\u2022 It is more abstract concept.<\/p>\n\n\n\n
\u2022 Economic development focuses on distribution of resources.<\/p>\n","protected":false},"excerpt":{"rendered":"
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