In the economics study of the public sector, economic and social development is the process by which the economic well-being and quality of life of a nation, region, local community, or an individual are improved according to targeted goals and objectives.

Economic Development is the process by which emerging economies become advanced economies. In other words, the process by which countries with low living standards become nations with high living standards.

Jan 2, 2025 · economic development, the process whereby simple, low-income national economies are transformed into modern industrial economies.

Feb 28, 2023 · Economic development is a crucial element that fuels economic growth, generating new job possibilities and facilitating an enhanced quality of life for current and future citizens by facilitating more access to opportunities brought about by economic growth.

Jul 31, 2024 · Development economics is a branch of economic study that focuses on improving fiscal, economic, and social conditions in developing countries.

Sep 19, 2020 · Economic development has greatly improved living conditions and incomes across the world. However, an alarming and inevitable consequence of modern economic development is the massive negative impact on the natural environment.

Sep 8, 2024 · Economic development is a broader concept that includes economic growth as one of its components but goes beyond it to include improvements in a range of life quality measures, such as health, education, and environmental sustainability.

Jun 5, 2021 · Economic development implies an improvement in economic welfare through higher real incomes and other welfare indices such as improved literacy, better infrastructure, reduced poverty and better health care.

economic development, Process whereby simple, low-income national economies are transformed into modern industrial economies. Theories of economic development—the evolution of poor countries dependent on agriculture or resource extraction into prosperous countries with diversified economies—are of critical importance to developing nations.

Jan 5, 2024 · Economic development includes a host of issues—including energy supply; technology; and access to jobs, food, water, education, health care, and housing—that are fundamental to improving the economic status of communities …