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Meaning of Development

Meaning of Development. Development is the improvement in standard of living and quality of life that follow on from a country becoming richer. In other words, the country needs the money, but how it is shared and spent affects the level of development a lot.

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Meaning of Development

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  1. Meaning of Development • Development is the improvement in standard of living and quality of life that follow on from a country becoming richer. • In other words, the country needs the money, but how it is shared and spent affects the level of development a lot.

  2. Definition of Economic Development: 1990s • World Bank in its 1991 WDR asserted that the “challenge of development is to improve the quality of life.” • The improved QOL involves • higher incomes • better education • higher standards of health and nutrition • less poverty • a cleaner environment • more equality of opportunities • greater individual freedom • a richer cultural life.

  3. Using the data from the given table, write which countries are more economically Developed and those which are less economically developed.

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