ECONOMICS
ECONOMIC DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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An increase in the value of the output of a country’s goods and services
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The improvement in a country’s wealth and the living conditions of its people
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The division of a nation’s jobs into different sectors
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The quality and price of goods imported into a country
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The value of a product compared to the needed labor
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Detailed explanation-1: -"Development is one of the main priorities of the United Nations. Development is a multidimensional undertaking to achieve a higher quality of life for all people. Economic development, social development and environmental protection are interdependent and mutually reinforcing components of sustainable development.
Detailed explanation-2: -The United Nations’ Human Development Index (HDI) seeks to quantify a country’s level of prosperity based on both economic and non-economic factors. Non-economic factors include life expectancy, and educational attainment. Economic factors are measured by gross national income (GNI) per-capita.
Detailed explanation-3: -Sustainable development has been defined as development that meets the needs of the present without compromising the ability of future generations to meet their own needs.
Detailed explanation-4: -According to the UN, a developing country is a country with a relatively low standard of living, undeveloped industrial base, and moderate to low Human Development Index (HDI). This index is a comparative measure of poverty, literacy, education, life expectancy, and other factors for countries worldwide.