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What is Economic Development Overview and Factors about?

1) Economic development refers to improving economic well-being through higher incomes and welfare over the long run. It considers both formal and informal economic activity and aims to improve living standards through development and technology. 2) Key factors that affect economic development include infrastructure, education, investment, savings, political stability, and natural resources. Macroeconomic stability is also important. 3) Economic development differs from economic growth in that it aims to i

Author

Jeanie

Language

EN