Date Posted: 10/10/2011 12:14:14 AM
Posted By: dtophchris Membership Level: Silver Total Points: 252
1. Economic developmentEconomic change is a process in which agriculture, industry, trade, transport, irrigation, power resources etc. are improving. It is related to the improvement in the economic condition of people and the country as a whole. Economic development can be achieved by creating employment opportunities to those who are unemployment or by creating better employment opportunities to those who are already employed. Better employment opportunities generate more incomes and when income is good, people can improve their living conditions. Expanding activities such as agriculture industry and services help to generate more incomes. One of the working definitions of economic development is that it is a process whereby an economy’s real national income increases over a long period of time. 2. Social DevelopmentSocial development is related to the improvements in health, education, housing, drinking water, etc. and the social status as a whole. Improvement in them may be indirectly related to economic development because if income increases, people can enjoy better health, education, nutritional food and housing. If the people are poor, they can suffer malnutrition, sickness, illiteracy, homelessness, etc. So, the essence of economic development is the growth of output or real income per head of population.
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