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Vocabulary Term Details

Economic development

Definition (

Economic development generally refers to the sustained, concerted actions of policymakers and communities that promote the standard of living and economic health of a specific area. Economic development can also be referred to as the quantitative and qualitative changes in the economy. Such actions can involve multiple areas including development of human capital, critical infrastructure, regional competitiveness, environmental sustainability, social inclusion, health, safety, literacy, and other initiatives. (Wikipedia)

Preferred Units: N/A

Scope Note:

Broader TermsNarrower TermsRelated Terms
Socioeconomic development
Agricultural development
Economic growth
Industrial development
Economic indicators
Social change
Technological changes

This term is used for the following terms: 
Sectoral development

Approved Date

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