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While the term economic implies a quantitative increase in the volume of productions of goods and services in the country, as reflected by an increase in the real gross domestic product and real per capita gross domestic product and real per capital gross domestic product of the country over the years, the phrase economic development has a qualitative connotation besides its quantitative aspect. Economic development of a country implies not only a quantitative increase in the volume of production, but also a qualitative improvement in its distribution. The distributive criterion of economic development can be subdivided into four sub aspects and they are: the regional aspect, the local aspect, the compositional aspect and the temporal aspect...
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