Economic development is the increase in the standard of living in a nation's population with sustained growth from a simple, low-income economy to a modern, high-income economy. A poor country is known as a Less Economically Developed Country, or LEDC for short. Regional development is the provision of aid and other assistance to regions which are less economically developed. Regional development may be domestic or international in nature.
Economic development is the increase in the standard of living in a nation's population with sustained growth from a simple, low-income economy to a modern, high-income economy.
A poor country is known as a Less Economically Developed Country, or LEDC for short. Regional development is the provision of aid and other assistance to regions which are less economically developed. Regional development may be domestic or international in nature.
Join 4M+ learners. Unlock unlimited quizzes, wrong-answer tracking, flashcards + reminders, study guides, and 1-on-1 challenges.