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increase standard of living (batter education, higher health standards, reduction in poverty, cleaner environment, greater individual freedom, greater & equal opportunity, etc) ==> (multidimensional approach).
DEVELOPMENT ECONOMICS IMPORTANT DEFINITIONS
1) W E Lkhan: A process which makes people in general better off by increasing there command over goods and services and by increasing choices open to them.
2) Mair & Bodwin: A process in which the economy’s real national income increases over a long period of time and if the rate of development / output is greater then the rate of growth of population then the per capital income increases...
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