Question

What is main cause of economic development

Answer 1

Dear Student,

Here is the answer:

Economic development is the increase in growth and welfare of people, improvement of quality of life and increase in per capita income. It is the process by which a nation improves the economic, political, and social well-being of its people. The main cause of economic development is ​​increase in per capita income. But as development is a wider concept it should also includes factors like improvement in life expectancy and literacy rates.

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