Economic development is distinguished by an increase in gross national product together with:
Aan increase in the volume of exports
Ba rise in the total national population
Ca growth in the number of banks opened
Dan improvement in the welfare of people
Answer & Solution
Correct answer: D. an improvement in the welfare of people
1. Economic growth alone is a rise in output, measured by gross national product.
2. Gross national product estimates the total value of final goods and services produced in a period by a country's residents.
3. Economic development is broader: it requires that rise in output to reach people's lives.
4. Welfare means people's health, comfort and happiness, supported by having income.
5. So development is growth plus improved welfare; population, bank numbers and exports may all rise without welfare improving at all.
_Source: NECTA CSEE 2021 Civics 011, Question 1: Multiple Choice, item (viii)_
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