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Explain the concept of development?



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In economics, development entails an average increase in per capita income (average income per person) with a commensurate decrease in the gini coefficient (a decrease in economic inequality) so that an average citizen enjoys a healthy life (including comforts) with healthy prospects (intellectual, economic and social) for a secure future. A decrease in gini coefficient is not essential to measuring development, however.

A developed country is one in which the average standards of living are high.