Category: Economic Development
What is economic development?
Apr 4, 2023, Posted by Nia Latham
Economic development is a process of improving the standard of living and quality of life of a population by increasing economic activity. It involves expanding and diversifying the economy, creating more jobs, improving infrastructure, and making sure resources are used efficiently. It also focuses on addressing the social and environmental challenges that come with economic growth, such as poverty, inequality, and climate change. Economic development is a complex and multi-faceted process that requires collaboration between governments, businesses, and citizens to achieve its goals.
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