Question 50
Economic Growth and DevelopmentEconomic development is defined as
- A.positive change plus growth
- B.availability of more goods and services
- C.outward shift of the production possibility curve
- D.growth in the national income.
Show the answer and explanation
Answer: A (positive change plus growth)
Explanation
Economic development is more than growth: national income must rise together with positive changes such as better health, education and living standards.