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- DictionaryOrganization for Economic Cooperation and Development
- 1. an organization formed in 1961 to assist the economy of its member nations and to promote world trade. Its members include the industrialized countries of western Europe together with Australia, Japan, New Zealand, and the US. Its headquarters are in Paris.
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In the economics 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.
Economic Development is the process by which emerging economies become advanced economies. In other words, the process by which countries with low living standards become nations with high living standards.
Aug 7, 2024 · economic development, the process whereby simple, low-income national economies are transformed into modern industrial economies. Although the term is sometimes used as a synonym for economic growth, generally it is employed to describe a change in a country’s economy involving qualitative as well as quantitative improvements.
Sep 19, 2020 · Economic Development is assumed to take place when there is a rise in the standard of living of the population. Real per capita income is assumed to be the best index for depicting the average standard of living of the population, and so it is widely used as an index of economic development.
ECONOMIC DEVELOPMENT definition: the process in which an economy grows or changes and becomes more advanced, especially when both…. Learn more.
ECONOMIC DEVELOPMENT meaning: the process in which an economy grows or changes and becomes more advanced, especially when both…. Learn more.
Mar 22, 2024 · Economic development refers to the process through which a region, country, or community improves the well-being of its citizens through targeted objectives such as increasing income, reducing poverty, creating jobs, and expanding access to healthcare and education.
economic development, Process whereby simple, low-income national economies are transformed into modern industrial economies. Theories of economic development—the evolution of poor countries dependent on agriculture or resource extraction into prosperous countries with diversified economies—are of critical importance to developing nations.
Jul 31, 2024 · Development economics is a branch of economic study that focuses on improving fiscal, economic, and social conditions in developing countries.
Jan 1, 2016 · Economic development describes a process of improving economic and social well-being of people in a specific area. In addition to qualitative and quantitative growth, it includes social and environmental aspects.
