Economic growth has a close relationship with economic development. We need economic growth to support economic development because it contributes to
Development Economics
Economic Inequality: Meaning, Causes, How to Measure
What's it: Economic inequality is the unequal distribution of income and economic opportunities between various groups in society. Inequality is
Economic Development: Meaning, Goals, and Stages
What's it: Economic development refers to the progress of an economy in terms of quality. It's not just about economic growth. It also talks
Human Development Index: Indicators, Ranking, Benefits, Limitations
What's it: Human Development Index (HDI) is an indicator that tells you the country's social and economic development. It considers three dimensions,
Welfare: Meaning and Explanation
Welfare refers to the situation of being in a prosperous condition. People prosper when they have sufficient resources for a valuable life. This