Question: What Is The Conclusion Of Economic Development

What is the outcome of economic development?

In the economic study of the public sector, economic and social development is the process by which the economic well-being and quality of life of a nation, region, local community, or an individual are improved according to targeted goals and objectives.

What are the positive and negative effects of economic growth?

Positive economic growth means an increase in money supply, economic output, and productivity. An economy with negative growth rates has declining wage growth and an overall contraction of the money supply. Economists view negative growth as a harbinger of a recession or depression.

What is the importance of development?

Development is about growth and helping to grow different aspects, as together they create further growth. Development is vital in today’s society as it affects every aspect in everyday life. Certain factors have a huge influence on development or the lack thereof the need to improve development.

What is the link between pollution and economic development?

The EKC variation posits that pollution increases with economic growth in the early stages of development. Beyond a certain level of development, however, the trend reverses, and economic growth improves environmental conditions by creating the resources to do so.

How do you write a conclusion for a project?

How to Write a Conclusion Include a topic sentence. Conclusions should always begin with a topic sentence. Use your introductory paragraph as a guide. Summarize the main ideas. Appeal to the reader’s emotions. Include a closing sentence.

What is your understanding of economic development?

Economic Development is programs, policies or activities that seek to improve the economic well-being and quality of life for a community. Each community has its own opportunities, challenges, and priorities. Your economic development planning must include the people who live and work in the community.

What are examples of economic development?

Economic development includes initiatives that improve infrastructure, enhance our education system, better our public safety, improve parks, and foster endless ways to incentivize and attract new businesses and jobs.

What conclusion can you make about developing countries?

In developing countries, the relatively low consumption of energy is both a cause and an effect of existing development problems. Development in the South is likely to result in an increasing demand for energy. How that energy is to be obtained is of vital significance.

What is the purpose of economic development?

The aim of economic development is to improve the material standards of living by raising the absolute level of per capita incomes. Raising per capita incomes is also a stated objective of policy of the governments of all developing countries.

What is the conclusion of GDP?

CONCLUSION. Gross Domestic Product, the total market value of all final goods and services produced in a country in a given year, equal to total consumer, investment and government spending, plus the value of exports, minus the value of imports.

What are positive impact of the economic development?

Higher economic growth leads to higher tax revenues and this enables the government can spend more on public services, such as health care and education e.t.c. This can enable higher living standards, such as increased life expectancy, higher rates of literacy and a greater understanding of civic and political issues.

What is the economic development answer?

Economic Development is the creation of wealth from which community benefits are realized. It is more than a jobs program, it’s an investment in growing your economy and enhancing the prosperity and quality of life for all residents. Economic development means different things to different people.

Is India a developing economy conclusion?

Conclusion. In 2019, we expect the Indian economy to continue to be the global outperformer in terms of economic growth and have pencilled in 7.2% for this calendar year. Growth will be supported by favourable fiscal and monetary policies. Note: Indian fiscal year runs from 1 April to 31 March.

What is the conclusion of trade?

Trade promotes economic growth, alleviates poverty and helps countries reach their development goals. However, developing countries – in particular the least developed – face difficulties in making trade happen and turning trade into economic growth.

What is conclusion of international trade?

Conclusion. Economic theory indicates that international trade raises the standard of living. A comparison between the performance of open and closed economies confirms that the benefits of trade in practice are significant.

What is the conclusion of production?

Land, labors, capital, and entrepreneurship are the major factors of production. Factors of production is that term of economics which are described as inputs are required to produce goods and services with an objective of making an economic profit.

What are the negative impacts of economic development?

The environmental impact of economic growth includes the increased consumption of non-renewable resources, higher levels of pollution, global warming and the potential loss of environmental habitats. However, not all forms of economic growth cause damage to the environment.

Which are developed and developing countries?

Low- and middle-income economies are usually referred to as developing economies, and the Upper Middle Income and the High Income are referred to as Developed Countries.

What are the two serious effects of economic development?

Economic development brought in its wake higher standards of living, better food, adequate clothing and shelter, as also protection from the natural disasters of drought and famine. There also occurred improvement in medical facilities and health care.

How can we develop economic development?

Export earnings, remittances, private investment, domestic savings, and external loans remain the primary sources of financing for economic growth. Development assistance, however, be it financial support, technical assistance, or policy dialogue, can play an important role in helping countries address knowledge and.

What are the 3 main objectives of development?

There are three core values of development: (i) sustenance, (ii) self- esteem, and (iii) freedom. Sustenance: Sustenance is the ability to meet basic needs of people. All people have certain basic needs without which life would be impossible. These basic needs include food, shelter, health, and protection.

What are the 5 stages of economic development?

Stages of Economic Development: (1) The Traditional Society: (2) The Pre-conditions to Take-off: (3) The “Take off” Period: (4) Drive to Maturity: (5) The Age of High Mass Consumption:.

Why is economic development important to a country?

In order for any community to survive, its citizens must have employment opportunities, and its government must be able to generate revenue to provide services. Economic development, if done effectively, works to retain and grow jobs and investment within a community.

What is the ultimate goal of development?

What is the ultimate goal of development? The ultimate goal of development is progressive transformation of economy and social system and the satisfaction of human needs and aspirations.