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What is economic development??

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What is economic development??

Posted by Prashant Rai 5 years, 7 months ago

CBSE > Class 10 > Social Science

1 answers

Yogita Ingle 5 years, 7 months ago

Economic development means that the rate of production must be faster than the rate of increase in population. In other words, it is a process which makes people in general, better off by increasing their command over goods and services and by increasing the choices open to them.
Two bases of measuring economic development of a country are -
National Income and Per Capita Income.

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