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Is increase income a sufficient indicators for rural development?
No. It may be a temporary increase or it may only refer to certain parts of the economy.
What is economic bad?
Ecomic bad may be defined as the factors which affect the development of economic activities.
Which is an example of multidirectional development?
A person's height will increase from birth until adulthood, and in late adulthood, it may decrease.
What kind of economy does the US have?
mixed market economy
Differentiate between economic development and sustainable development?
economic development implies more, particularly improvements in health, education and other aspects of human welfare. Countries that increase their Income but do not also raise life expectancy, reduce infant mortality, and increase literacy rates are missing out of some important aspects of development. The economic development of a country is defined as the development of the economic wealth of the country. Economic development is aimed at the overall well-being of the citizens of a country, as they are the ultimate beneficiaries of the development of the economy of their country. Economic growth on the other hand, is a narrower concept than economic development. It is defined as the increase in the value of goods and services produced by every sector of the economy. It is usually expressed in terms of the gross domestic product or GDP of the country. Economic growth is defined by increases in GDP. Whereas, economic development is more of a vague measure usually incorporating social measures such as literacy rates or life expectancy as a means of measuring a country's level of development. at last its depends on the market weather it high or low of the demand
