Light

Economic Development

Definition

Economic development refers to sustained efforts aimed at improving the economic well-being and quality of life for individuals within a society or country.

Related terms

Gross Domestic Product (GDP): A measure of the total value of goods and services produced within a country's borders over a specific time period. It is often used as an indicator of economic development.

Human Development Index (HDI): A composite index that measures factors such as life expectancy, education level, and income per capita to assess overall societal well-being beyond just economic indicators.

Foreign Direct Investment (FDI): Investments made by individuals or companies from one country into another country's businesses or infrastructure with the aim of promoting economic development.

"Economic Development" appears in:

Subjects (4)

AP European History
AP Human Geography
AP US History
AP World History: Modern

Study guides (2)

AP Comparative Government - 1.10 Political Stability
AP Comparative Government - 5.7 Impact of Industrialization and Economic Development

Practice Questions (2)

How can economic development impact political stability?
How did economic development in Mexico impact its migration patterns?

Are you a college student?

Study guides for the entire semester
200k practice questions
Glossary of 50k key terms - memorize important vocab

About Us

About Fiveable

Blog

Careers

Code of Conduct

CCPA Privacy Policy

Resources

Cram Mode

AP Score Calculators

Study Guides

Practice Quizzes

Glossary

Cram Events

Merch Shop

Crisis Text Line

Help Center

Stay Connected

© 2024 Fiveable Inc. All rights reserved.

AP® and SAT® are trademarks registered by the College Board, which is not affiliated with, and does not endorse this website.