Answer:Economic Development is programs, policies or activities that seek to improve the economic well-being and quality of life for a community.
Explanation: What “economic development” means to you will depend on the community you live in. Each community has its own opportunities, challenges, and priorities. Your economic development planning must include the people who live and work in the community.
Economic development refers to the sustained, long-term growth and improvement of a country's economy. It involves various processes and policies aimed at increasing the overall standard of living, productivity, and well-being of the population.
Economic development encompasses multiple dimensions, including:
Economic growth: The expansion of a country's productive capacity and output, measured by indicators such as Gross Domestic Product (GDP), per capita income, and employment opportunities.
Poverty reduction: Efforts to alleviate poverty and improve the living conditions of disadvantaged individuals and communities through income redistribution, social programs, and access to basic necessities such as education, healthcare, and housing.
Infrastructure development: The establishment and improvement of physical infrastructure, such as transportation systems, communication networks, power supply, and water resources, to facilitate economic activities and enhance connectivity.
Human capital development: Investing in education, training, and healthcare to develop a skilled and healthy workforce capable of contributing to economic growth and innovation.
Industrialization and diversification: Promoting the growth of various sectors, expanding industrial and manufacturing capabilities, and encouraging the development of new industries to reduce dependency on a single sector and create employment opportunities.
Sustainable development: Balancing economic growth with environmental conservation and social equity, ensuring that development is environmentally sustainable, socially inclusive, and meets the needs of present and future generations.
Overall, economic development aims to create favorable conditions for economic progress, reduce inequalities, and enhance the overall quality of life for individuals and communities. It involves a combination of policies, investments, and strategies to promote inclusive and sustainable economic growth.
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Answer:Economic Development is programs, policies or activities that seek to improve the economic well-being and quality of life for a community.
Explanation: What “economic development” means to you will depend on the community you live in. Each community has its own opportunities, challenges, and priorities. Your economic development planning must include the people who live and work in the community.
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Explanation:
Economic development refers to the sustained, long-term growth and improvement of a country's economy. It involves various processes and policies aimed at increasing the overall standard of living, productivity, and well-being of the population.
Economic development encompasses multiple dimensions, including:
Economic growth: The expansion of a country's productive capacity and output, measured by indicators such as Gross Domestic Product (GDP), per capita income, and employment opportunities.
Poverty reduction: Efforts to alleviate poverty and improve the living conditions of disadvantaged individuals and communities through income redistribution, social programs, and access to basic necessities such as education, healthcare, and housing.
Infrastructure development: The establishment and improvement of physical infrastructure, such as transportation systems, communication networks, power supply, and water resources, to facilitate economic activities and enhance connectivity.
Human capital development: Investing in education, training, and healthcare to develop a skilled and healthy workforce capable of contributing to economic growth and innovation.
Industrialization and diversification: Promoting the growth of various sectors, expanding industrial and manufacturing capabilities, and encouraging the development of new industries to reduce dependency on a single sector and create employment opportunities.
Sustainable development: Balancing economic growth with environmental conservation and social equity, ensuring that development is environmentally sustainable, socially inclusive, and meets the needs of present and future generations.
Overall, economic development aims to create favorable conditions for economic progress, reduce inequalities, and enhance the overall quality of life for individuals and communities. It involves a combination of policies, investments, and strategies to promote inclusive and sustainable economic growth.