ECONOMIC GROWTH AND DEVELOPMENT
At the end of this chapter, students should be able to:
- Explain the concept of economic development and distinguish between economic growth and development
- Explain the characteristics of an underdeveloped economy.
- Explain the factors which influence economic development.
DEFINITION OF ECONOMIC DEVELOPMENT
Economic development may be defined as the process whereby the level of national production (that is national income) or per capita income increases over a period of time. The main purpose of economic development is to raise the standard of living and the general well-being of the people in an economy.
153. FUNGAL DISEASES