Economic development refers to an increase in the standard of living of the majority of people living in a country over a period of time. Economic growth is an increase in the real value of production, as measured by the real GDP per capita. In other wor | Economic pursuits

Title

Economic development refers to an increase in the standard of living of the majority of people living in a country over a period of time. Economic growth is an increase in the real value of production, as measured by the real GDP per capita. In other wor

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Economic development refers to an increase in the standard of living of the majority of people living in a country over a period of time. Economic growth is an increase in the real value of production, as measured by the real GDP per capita. In other words, it is the productive capacity of the economy.

Subject: 

  • Economics

Category: 

  • Economic pursuits