Question

Which of the following is an accurate definition for economic development?

a. the level of economic, political, and social well being of a nation's people
b. the market value of all final goods and services produced within a country in a given period of time
c. a nation's gross domestic product divided by total population
d. a measurement of worth or cultural superiority

Answer 1

The best option in terms of an accurate definition for economic development would be "a. the level of economic, political, and social well being of a nation's people," since "developed" nations usually have more of these things than "undeveloped" nations.