economic development

Question 1

definition

Answer 1

the process by which a country may experience economic growth and reallocation of resources away from primary production and towards manufacturing

Question 2

sources of economic growth

Answer 2

natural factors (land, quality/ quantity [land reclamation in holland])
Human Capital factors (labour, population growth or immigration, quality health care)
Physical capital and technological factors (capital, quality by higher education, research, quantity by production)
Institutional factors (enterprise, need for structure eg legal)

Question 3

Does economic growth lead to economic development

Answer 3

higher incomes
improved economic indicators of welfare
higher government revenue
creation of inequality
negative externalities and less sustainability

Question 4

Millennium development goals

Answer 4

End extreme poverty & hunger
Universal primary ed
Gender equality & empower women
Reduce child mortality
Improve maternal health
Fight HIV/AIDs
Environmental sustainability 
Global partnership for development