Question

What do you mean by economic development?

Answer 1

Instruction:

• Define economic development.
• Explains indicators that show economic development.

Answer:
Economic development is the process through which a country, community, or specific region's economic well-being and quality of life are enhanced in accordance with established goals and objectives.

Some indicators that show economic development are:

• Per Capita Income
• Per Capita Consumption
• Human Development Index