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e. In the economics study of the public sector, economic and social development is the process by which the economic well-being and quality of life of a nation, region, local community, or an individual are improved according to targeted goals and objectives. The term has been used frequently in the 20th and 21st centuries, but the concept has ...
Sustainable development is an approach to growth and human development that aims to meet the needs of the present without compromising the ability of future generations to meet their own needs. [1][2] The aim is to have a society where living conditions and resources meet human needs without undermining planetary integrity. [3][4] Sustainable ...
Development economics is a branch of economics that deals with economic aspects of the development process in low- and middle- income countries. Its focus is not only on methods of promoting economic development, economic growth and structural change but also on improving the potential for the mass of the population, for example, through health ...
International development. World Development Indicators have improved relative to the year 1990. 75% of poverty reduction happened because of China [1]. International development or global development is a broad concept denoting the idea that societies and countries have differing levels of economic or human development on an international scale.
A developing country is a sovereign state with a less developed industrial base and a lower Human Development Index (HDI) relative to other countries. [3] However, this definition is not universally agreed upon. There is also no clear agreement on which countries fit this category. [4][5] The terms low and middle-income country (LMIC) and newly ...
v. t. e. Economics (/ ˌɛkəˈnɒmɪks, ˌiːkə -/) [ 1 ][ 2 ] is a social science that studies the production, distribution, and consumption of goods and services. [ 3 ][ 4 ] Economics focuses on the behaviour and interactions of economic agents and how economies work.
t. e. Economic growth can be defined as the increase or improvement in the inflation-adjusted market value of the goods and services produced by an economy in a financial year. [ 1 ] Statisticians conventionally measure such growth as the percent rate of increase in the real and nominal gross domestic product (GDP).
Economic sectors. The primary sector of the economy includes any industry involved in the extraction and production of raw materials, such as farming, logging, fishing, forestry and mining. [1][2][3] The primary sector tends to make up a larger portion of the economy in developing countries than it does in developed countries.