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Definition

Development

Economic development is the process through which a country’s economy expands and improves in both quantitative and qualitative terms. Economic development
requires the coming together of several different processes and conditions: the accumulation of real capital; the development of education, skills, and human capacities; improvements in governance, democracy, and stability; and changes in the sectoral make-up of the economy.

Webster Dictionary Meaning

1. Development
- The act of developing or disclosing that which is unknown; a gradual unfolding process by which anything is developed, as a plan or method, or an image upon a photographic plate; gradual advancement or growth through a series of progressive changes; also, the result of developing, or a developed state.
- The series of changes which animal and vegetable organisms undergo in their passage from the embryonic state to maturity, from a lower to a higher state of organization.
- The act or process of changing or expanding an expression into another of equivalent value or meaning.
- The equivalent expression into which another has been developed.
- The elaboration of a theme or subject; the unfolding of a musical idea; the evolution of a whole piece or movement from a leading theme or motive.
Category: Economics
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