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Economic Development and Its Indicators

To achieve ec...

Question

To achieve economic development, countries should focus on producing more goods and services.

A

False

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B

True

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Solution

The correct option is B True

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Q. Process of economic development means increase in goods and services.

Q. Imagine two countries A and B in the year 2004.

Country A focuses on expanding on its scale of production and achieving economic progress. Country B focuses on employing new technologies in production and achieving economic development. Additionally, the per capita income of A is

748, a n d t h e p e r c a p i t a i n c o m e o f B i s

713.

Choose the correct option.

Q. During the 20th century, in order to achieve faster economic development, many countries adopted __________.

Q. Developed countries focused on economic development because they realised it to be a tool to avoid ____________.

Q. In economic terms, the total market value of all final goods and services produced in a country in a given year is known as ___

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Economic Development and Its Indicators

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