Economics · Economic Development
What does the term 'Economic Development' primarily aim to achieve, beyond mere quantitative growth?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Increase in the manufacturing sector's share in GDP only.
- 2Improvement in the quality of life, reduction in inequality, and structural transformation.✓
- 3Increase in Foreign Direct Investment (FDI) inflow only.
- 4Increase in Gross Domestic Product (GDP) only.
Correct answer
Improvement in the quality of life, reduction in inequality, and structural transformation.
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