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With this in mind, economic development is typically associated with improvements in a variety of areas or indicators (such as literacy rates, life expectancy, and poverty rates), that may be causes of economic development rather than consequences of specific economic development programs. For example, health and education improvements have ...
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, education and workplace conditions, whether through public or private channels. [1]
For example, neighborhood business organizations target growth in specific commercial areas by lobbying government authorities for special tax rates and real estate developments. [2] Community economic development is an alternative to conventional economic development.
Local economic development (LED) is an approach to economic development, of note in the developing world that, as its name implies, places importance on activities in and by cities, districts and regions. Local economic development combines economic development activities, urban planning, infrastructure development and social development ...
Business economics is the study to focus on how economic theories will be affected by the performance of business or business activities in practice. There are many practical case studies that have used the economic theories in the corporate development. [ 6 ]
An example production–possibility frontier with illustrative points marked. In microeconomics, production is the conversion of inputs into outputs. It is an economic process that uses inputs to create a commodity or a service for exchange or direct use. Production is a flow and thus a rate of output per period of time.
Cluster development (or cluster initiative or economic clustering) is the economic development of business clusters. The cluster concept has rapidly attracted attention from governments, consultants , and academics since it was first proposed in 1990 by Michael Porter .
Percentages of a country's economy made up by different sectors. Countries with higher levels of socio-economic development tend to have proportionally less of their economies operating in the primary and secondary sectors and more emphasis on the tertiary sector. The less developed countries exhibit the inverse pattern.