Economic growth has a close relationship with economic development. We need economic growth to support economic development because it contributes to increased output and income in the economy, which in turn contributes to prosperity.
What's it: Economic inequality is the unequal distribution of income and economic opportunities between various groups in society. Inequality is a universal problem. You can see, it happens in all countries. The acute unemployment rate and
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 about the multidimensional aspects of a country, such as increasing per capita income, improving
What's it: Human Development Index (HDI) is an indicator that tells you the country's social and economic development. It considers three dimensions, namely, health, education, and living standards. Importance of the Human Development
Welfare refers to the situation of being in a prosperous condition. People prosper when they have sufficient resources for a valuable life. This term also refers to assistance by the state to people who need it, mainly because they do not have