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What are basis for economic development in a country? |
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Answer» Economic development means that the rate of production must be faster than the rate of increase in population. In other words, it is a process which makes people in general, better off by increasing their command over goods and services and by increasing the choices open to them.Two bases of measuring economic development of a country are -National Income and Per Capita Income. Basis of economic development if a country1. Health status along with proper availability of medical facilitirs and food supply2.Per capita income 3.literacy rate and net attendence ratio On the basis of :-1. Health status2. Per capita income 3.literacy rate Economic growth,,reduction of poverty,,income of each person,,global situation and population size |
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