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(Todaro, 1981) This means to raise people’s level of livings, their incomes and consumption levels of food, medical services, education etc., through economic growth processes . Economic growth refers to a rise in national or per capita income and product. If the production of goods and services in a country rises, by whatever means, one can speak of that rise as economic growth. (Economic Development Glossary 2003) Todaro claims that economic growth is a necessary condition to improve the quality of life. The World Trade Organization (WTO) also argues that growth of trade between countries may increase the wealth of everyone...
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