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Industries? Analyse the reasons.What is meant by economic development? Write two basis of measuring economicdevelopment of a country. |
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Answer» Economic development is the growth of the standard of living of a nations people from a low-income (poor) economy to a high-income (rich) economy. When the local quality of life is improved, there is more economic development. When social scientists study economic development, they look at a lot of things. Two basis of measuring economic development of a country are :(i) Average or per capita income.(ii) National income and public facilities. |
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