Economic development refers to __________.
A)Economic growth.
B)Economic growth plus changes in output distribution and economic structure.
C)Improvement in the well-being of the urban population.
D)Sustainable increases in Gross National Product.

Question

Quizplus · Accepted Answer

Economic development encompasses not only economic growth (increases in GDP) but also improvements in factors such as income distribution, poverty reduction, and changes in the economic structure, which may include shifts from agricultural-based economies to industrial or service-oriented sectors.

Economic Development Refers to __________