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Which of the following explains the term economic development?
- a)Improvement in the technology involved
- b)Improvement in production
- c)Improvement in distribution system
- d)All the above
Correct answer is option 'D'. Can you explain this answer?
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Which of the following explains the term economic development?a)Improv...
Economic development is a wider concept than growth. There are various parameters used to define and measure it.
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Which of the following explains the term economic development?a)Improv...
Explanation of Economic Development:
Improvement in technology:
- Economic development involves the advancement and adoption of new technologies in various sectors of the economy.
- Technological improvements can lead to increased efficiency, productivity, and innovation, resulting in overall economic growth.
Improvement in production:
- Economic development also entails enhancing the production capacity of a country or region.
- This can be achieved through investments in infrastructure, education, and skills development, which can help increase the output of goods and services.
Improvement in distribution systems:
- Another aspect of economic development is the improvement of distribution systems to ensure that goods and services reach the intended consumers efficiently.
- This may involve the development of transportation networks, storage facilities, and market access for producers.
Overall, economic development encompasses:
- Improvements in technology, which drive progress and innovation in various industries.
- Enhancements in production capabilities, leading to increased output and economic growth.
- Upgrades in distribution systems, ensuring efficient delivery of goods and services to consumers.
Therefore, economic development involves a comprehensive approach to improving the overall economic well-being of a country or region through advancements in technology, production, and distribution systems.
Improvement in technology:
- Economic development involves the advancement and adoption of new technologies in various sectors of the economy.
- Technological improvements can lead to increased efficiency, productivity, and innovation, resulting in overall economic growth.
Improvement in production:
- Economic development also entails enhancing the production capacity of a country or region.
- This can be achieved through investments in infrastructure, education, and skills development, which can help increase the output of goods and services.
Improvement in distribution systems:
- Another aspect of economic development is the improvement of distribution systems to ensure that goods and services reach the intended consumers efficiently.
- This may involve the development of transportation networks, storage facilities, and market access for producers.
Overall, economic development encompasses:
- Improvements in technology, which drive progress and innovation in various industries.
- Enhancements in production capabilities, leading to increased output and economic growth.
- Upgrades in distribution systems, ensuring efficient delivery of goods and services to consumers.
Therefore, economic development involves a comprehensive approach to improving the overall economic well-being of a country or region through advancements in technology, production, and distribution systems.
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Which of the following explains the term economic development?a)Improvement in the technology involvedb)Improvement in productionc)Improvement in distribution systemd)All the aboveCorrect answer is option 'D'. Can you explain this answer?
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Which of the following explains the term economic development?a)Improvement in the technology involvedb)Improvement in productionc)Improvement in distribution systemd)All the aboveCorrect answer is option 'D'. Can you explain this answer? for UPSC 2025 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Which of the following explains the term economic development?a)Improvement in the technology involvedb)Improvement in productionc)Improvement in distribution systemd)All the aboveCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for UPSC 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which of the following explains the term economic development?a)Improvement in the technology involvedb)Improvement in productionc)Improvement in distribution systemd)All the aboveCorrect answer is option 'D'. Can you explain this answer?.
Which of the following explains the term economic development?a)Improvement in the technology involvedb)Improvement in productionc)Improvement in distribution systemd)All the aboveCorrect answer is option 'D'. Can you explain this answer? for UPSC 2025 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Which of the following explains the term economic development?a)Improvement in the technology involvedb)Improvement in productionc)Improvement in distribution systemd)All the aboveCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for UPSC 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which of the following explains the term economic development?a)Improvement in the technology involvedb)Improvement in productionc)Improvement in distribution systemd)All the aboveCorrect answer is option 'D'. Can you explain this answer?.
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