WAEC Economics 2011 Theory — Question 22

Question 22 of 25 from the West African Examinations Council (WAEC) Economics 2011 Theory paper, with the correct answer and a full explanation.

11(a) What is economic development?

Model answer

Economic development is the process by which a country experiences a sustained increase in its real output accompanied with other positive changes such as reduction in poverty, level of unemployment rate and income inequality.

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