Economics Supply And Demand Questions
Economic development refers to the sustained increase in the standard of living, economic growth, and improvement in the overall well-being of a country or region. It involves various factors such as increased production, improved infrastructure, technological advancements, and a rise in per capita income. Economic development aims to reduce poverty, unemployment, and inequality while promoting social progress and environmental sustainability. It is often measured by indicators such as Gross Domestic Product (GDP), Human Development Index (HDI), and poverty rates.