Under what socio-economic conditions may economic growth lead to economic development in an economy?
- When an increase in real per capita income is sustained for a long period of time
- When increase in national income is used to acquire things which improve human welfare e.g. food, clothing, shelter, education, health and information
- Increased literacy and education
- Environmental protection to ensure safety of future generations
- When national income is equitably distribute across all the population
- Improvement in technology to lead to improvement in the quantity and quality of production
- Job creation to cater for the growing population
- Production favourable goods and services
- Good working conditions
- Research and innovation
- Information technology
CATEGORIES Economics
TAGS Dr. Bbosa Science
