What is economic development? Explain its nature and importance.

Q: Which of the following are sources of growth?

A: Find : Which of the following are sources of growth?

Q: Explain the role of human capital in economic development

A: According to the given question Human capital in economics is defined basically as an human resource…

Q: Explain the term economic development and how is economic development measured?

A: As wants and desires of the individuals in the economy are unlimited but resources possessed by an…

Q: Explain the concept of economic development and give the examples

A: Economics as a subject deals with the allocation of scarce resources among humans with unlimited…

Q: List and discuss three specific policies for achieving sustainable development. Do these policies…

A: Sustainable development is a getting sorted out standard for meeting human improvement objectives…

Q: Does economic growth mean economic development? Discuss

A: In economics, economic growth is defined as the increase in the goods and services produced in an…

Q: Which of the following is not an example of economic development? A. Improvement of human…

A: Economic Development : The Economic development can be defined as the quantitative as well as the…

Q: How does family close ties affect economic development?

A: The extended family system is referred to as "close family ties." It's a family system in which…

Q: What is the relationship between innovation and economic development? Explain in detail in micro and…

A: The relationship between Innovation and Economic development can be explained as follows :  Due to…

Q: How does the economy grow up without development? – Explain.

A: Economic and social development is the process by which a nation, region, local community, or…

Q: What is the true meaning of Economic Development? How can it influence productivity in a country?…

A: True meaning of Economic Development Economic and social growth is the mechanism by which a…

Q: What do you think is the importance of innovation in the economic development of a country?

A: The nations around the world tend to operate with the motive of increasing their economic, and…

Q: How sustainable is economic growth?

A: Meaning of Macroeconomics: The term macroeconomics refers to the situation of economic and…

Q: Explain the concept of economic development and describe five can use to drive development, in the…

A: Economic development in an economy happened when there will be economic growth continued for a long…

Q: How can Theory of Economic Development promote businesses to perform better?

A: Economic development: It refers to the strategies that deal with the development process of the…

Q: As explained by the economists, economic development and economic growth are the same. TRUE OR…

A: When comparing one period to the next, economic growth is defined as a rise in the production of…

Q: difference between economic development and economic growth?

A: Meaning of Economic Development: The term economic development refers to the situation under which…

Q: Does economic growth leads to economic development? How? In what way? Answer by giving an example.

A: Economic Growth refers to increase in output. It is a quantitative aspect. Economic Development…

Q: A key factor that leads to economic growth is?

A: The key factors that leads to an economic growth are human resources, physical capital, natural…

Q: What is the relationship between innovation and economic development? Discuss micro and macro…

A: The economic concepts are somewhere related when it comes to the innovation and economic…

Q: How poor countries can sustain high growth and development? Explain in detail.

A: Economic growth is considered to be the increase in GDP and higher productivity and economic…

Q: Explain the topic Theory of socio-economic development by Joseph Schumpeter

A: The socio-economic factors are the employment, income, gross domestic product, literacy rate and…

Q: Explain the benefits or cost of economic growth and How to achieve growth?.

A: There are various issues that government has to deal with. Issues such as poverty, unemployment,…

Q: What is economic development? How should it be measured?

A: The two or more economies can be compared with each other to know which economy is better in terms…

Q: What are the phases of economic development? Why is it important to understand the specific steps…

A: Economic development is a series of incremental improvements. The business climate of a country…

Q: What is keenness to consume in economic development?

A: Consumption is distinct from consumption expenditure, that is that the purchase of product and…

Q: Explain the difference between economic growth and economic development

A: The gross domestic product(GDP) is defined as the market value of all the final commodities(goods…

Q: correlation between culture and development

A: Culture is a way of life practised as a daily routine.

Q: Is education a key to economic development? Why?

A: Economic development is the method of making wealth for the advantage of the community. It's over a…

Q: compare and contrast the stages of Economic Development by Renee O’Farrel and Dr. Roger Allen

A: Economic development refers to a rise in the wealth of a nation that give rise to a better standard…

Q: What is the difference between economic growth and economic development? Give one example in each..

A: Growth and development are two different terms. Growth is a relatively smaller concept than…

Q: Why people are the real products of economic development?

A: Economic development involves the rise in real per capita output and income. Its central point is to…

Q: WHAT IS THE IMPORTANCE OF ECONOMIC GROWTH?

A: Economic growth indicates that a country's limited resources are being used more efficiently. It is…

Q: Needs and objectives for sustainable economic growth?

A: Economic growth is defined as the increase in the production of the economic goods and services in a…

Q: How does conflict, controveries and opportunities affect the economic development.

A: The social compact falls broken when the economy stagnates or declines, and governmental services…

Q: What factors contribute the most to economic growth?

A: To manufacture goods and services, you'll need resources. However, in terms of the demands and…

Q: Discuss the three core values of economic development.

A: Economic development is the concept that is beyond the measurement of income level only as it…

Q: what is economic development and economic growth?

A: Economic development and economic growth are used interchangeably, but both terms are different in…

Q: State what is the difference between economic growth and economic development??

A: A rise in the production of products and services in an economy is referred to as economic growth.…

Q: How does government promote the population growth?

A: Concerned with the effects of demographic loss and population ageing, particularly with respect to…

Q: Explain the idea of sustainable development.

A: Sustainable development refers to the utilization of scarce resources without compromising the needs…

Q: Political economists have offered a range of explanations of economic and human development. These…

A: A developed nation, also known as an industrialized country, has a sophisticated and mature economy,…

Q: What did Malthus and Ricardo say about population growth?

A: The gross domestic product(GDP) refers to the market value of all the final commodities(goods and…

Q: What do you think is your role to economic development? (as entrepreneurs)

A: The role of entrepreneurs and entrepreneurship in the growth and prosperity of a nation cannot be…