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Economic development is a technology-based economic measure to move from one economic situation to another, with a view to improving it, such as moving from the state of the agricultural to industrial economy or moving from the commercial economy to technology-based trading. [1]
Economic development is defined as the process aimed at promoting the growth of a nation's economy by applying several development plans that make it more advanced and developed, thus affecting society positively by implementing a range of successful economic strategies.
It is also known as the quest of societies to increase their economic capacity; to take advantage of the wealth available in their environments, particularly in areas where the absence of economic diversity is negatively affecting the local environment in general. [3]
2017-11-21