Intro to African American Studies
Economic development refers to the process by which the economic well-being and quality of life of a nation, region, or community is improved through efforts that enhance the financial, social, and cultural opportunities available to its residents. This concept is closely tied to the creation of jobs, infrastructure improvements, and overall economic growth, while also focusing on reducing poverty and inequality. Economic development encompasses both the strategies used to stimulate growth and the outcomes of those strategies in terms of societal well-being.
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