Economic Development Law and Legal Definition
Economic Development refers to the increase in the standard of living in a nation's population with sustained growth from a simple, low-income economy to a modern, high-income economy. Economic development is enhanced when the local quality of life improves. Economic development involves improvements in a variety of indicators such as literacy rates, life expectancy, and poverty rates. It is also related to human development. Economic development can be extensive or intensive. It is extensive when there is increase of overall wealth and intensive when there is increase of per capita wealth.
Legal Definition list
Related Legal Terms
- 21st Century Nanotechnology Research and Development Act of 2003
- Acquisition, Development and Construction (ADC) Loan
- Acute Economic Need
- Administration on Developmental Disabilities
- African Development Foundation
- Agricultural Trade Development and Assistance Act of 1954
- Airport Development [Aeronautics and Space]
- Alcohol-Related Neurodevelopmental Disorders
- Area Development Rights
- Association for Supervision and Curriculum Development [ASCD]
