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Question
In which of the following processes, the real per capita income in a country increases over a long period of time?
In which of the following processes, the real per capita income in a country increases over a long period of time?
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Solution
The correct option is C Economic development
Economic development implies the development of an economy. It refers to a process where the real per capita income in a country increases over a long period of time. Due to economic development, the welfare of the people also increases in the economy.
Economic development
Economic development implies the development of an economy. It refers to a process where the real per capita income in a country increases over a long period of time. Due to economic development, the welfare of the people also increases in the economy.
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