Economic Development

Readers and viewers must know the basic concepts and principles of economic development. After this, will be economic problems and development strategies that is applied in this article. The next part is development policies and programs that has something to do with monetary and fiscal policies in. It will be discovered as a process for an economic planning towards developmental model. Last but not the least, will be the major issues in economic development.

According to Fajardo in his book, “Economic Development defines as a progressive process of improving human conditions such as reduction or elimination of poverty, unemployment, illiteracy, inequality, disease and exploitations. To understand this meaning carefully, it is an interaction of different factors”. The example of this is investing a rice harvest per hectare in your designated ranch, there are various inputs that are combined like fertilizers, insecticides, irrigation, technology, and many other things related to this example.

This development is based on the classifications of countries or what categories do they belong? The categories will be either highly developed countries, intermediate countries, or they belong to less developed countries.

It has also a problem like humans. There is a saying, ” If there is a problem, there is a solution”

This development will also give information and at the same time enumerated some countries from different continents that gives economic status of how they performed in their gross national product and gross domestic product.

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