national income and economic development
National income refers to the total value of goods and services produced by a country in a given period, typically in a year. Economic development, on the other hand, refers to the sustained increase in the standard of living, quality of life, and overall well-being of the people in a country, often achieved through improvements in education, healthcare, infrastructure, and economic growth.
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Related Concepts (1)
Similar Concepts
- economic development
- economic development and entrepreneurship
- economic development goals
- economic growth and development
- national income accounting
- national income and consumption
- national income and employment
- national income and inflation
- national income and investment
- national income and product accounts
- national income and savings
- national income and taxation
- national income growth
- national income measures
- national income statistics