Unit 3.1(2): Measuring Economic Development

IB Economics: Unit 3.1(2): Measuring Economic Development

Economic development can be defined as the improvement of the well-being of a country’s citizens overtime. Welfare or well-being are subjective terms, which makes defining economic development as "an improvement in well-being" an open-ended statement that is difficult to quantify. Economists view development in a multi-dimensional way that takes into account a number of different factors.The link to the attached pdf...

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