Development Flashcards
1
Q
What is the definition of economic development
A
The process of improving peoples wellbeing and quality of life, involving improvements in standard of living, reduction in poverty, improved health and education along with increased freedom and economic choice
2
Q
How can economic growth create development
A
1)Higher incomes
2)Higher profits (job creation technology improvements)
3) fiscal dividends (health/infrastructure/education)
3
Q
What is dualism?
A
Primary sector dominance
4
Q
Limitations of economic growth for economic development?
A
1) Distribution of income leading to income inequality
2) Negative externalities and sustainability
3) Growth in one dominant sector
5
Q
What are
A
