ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Economic Development is programs, policies or activities that seek to improve the economic well-being and quality of life for a community. What “economic development” means to you will depend on the community you live in. Each community has its own opportunities, challenges, and priorities.

Detailed explanation-2: -This statement is false. Economic development is a broader concept than economic growth. Besides economic growth (as measured in terms of increase in the national income), it comprises of improvement in various other factors as well such as education, health, equality, etc.

Detailed explanation-3: -Economic development ideally refers to the sustained, concerted actions of communities and policymakers that improve the standard of living and economic health of a specific locality.

Detailed explanation-4: -that enhance the overall standard of living and welfare of the nation. Thus, we can say that while economic growth may be possible without economic development but the reverse is not true (that is, economic development is not possible without economic growth).