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Which of the following defines the term 'Economic Development'?

  1. A
    Improvements in technology involved
  2. B
    Improvements in production
  3. C
    Improvements in distribution systems
  4. D
    All of the above

Solution & Step-by-step Explanation

Economic development is a broad concept that goes beyond mere economic growth (increase in output). It encompasses qualitative and structural transformations across the entire socio-economic ecosystem, including technological advancement, enhanced production capacities, and progressive equity in institutional distribution networks.

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Which of the following defines the term 'Economic Development'?
A
Improvements in technology involved
B
Improvements in production
C
Improvements in distribution systems
D
All of the above

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Economic DevelopmentInfrastructureDistribution Systems

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