Question

Economic development is characterized by _____.

• A. Structural change in the economy
• B. Change in the occupational structure
• C. Both A and B
• D. None of the above

Answer 1

The correct option is C Both A and B

Economic development is the economic growth accompanied by imporvement in well being of man. For example just increase in national income or increase in production of goods and services is not an economic development but it is economic growth. It should be accompanied by improvement in the quality of life like improvement in the technology involved, improvement in production, improvement in distribution system.

It is characterized by Structural change in the economy and also Change in the occupational structure. It talks about quality of life.