Economic development
Example: The government prioritized economic development to reduce unemployment.
Definition
"Economic development" refers to the process by which a country or region improves the economic well-being and quality of life of its people, typically through growth in income, employment, and infrastructure, as seen when a government prioritizes economic development to reduce unemployment.
Etymology
The term "economic development" combines 'economic,' derived from the Greek 'oikonomikos,' meaning 'household management,' and 'development,' from Latin 'developare,' meaning 'to unwrap or unfold.' Together, they describe the unfolding or growth of a society's economic capacity and structure.
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"Economic development" appears in the Vocaplus list "English - History - (C1) - set 1", containing 198 commonly used words.
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