Global Studies
Economic development refers to the process of improving the economic well-being and quality of life for a community or country, typically through policies that promote growth, job creation, and equitable distribution of resources. It encompasses various dimensions such as income levels, education, healthcare, and infrastructure improvements, all aimed at reducing poverty and enhancing living standards. A critical aspect of economic development is its relationship with inequalities, as disparities in wealth and opportunities can significantly hinder overall progress.
congrats on reading the definition of economic development. now let's actually learn it.