Economics Economic Development Questions
Sustainable economic development refers to the process of achieving economic growth and progress while ensuring the long-term well-being of both present and future generations. It involves balancing economic, social, and environmental factors to create a sustainable and inclusive economy. This concept emphasizes the need to meet the needs of the present without compromising the ability of future generations to meet their own needs. It involves promoting economic growth that is environmentally friendly, socially equitable, and economically viable in the long run. Sustainable economic development aims to reduce poverty, inequality, and environmental degradation, while promoting sustainable consumption and production patterns, innovation, and the efficient use of resources.