What is the meaning of economic development?

Economic development is a process by which the overall health, well-being, and academic level the
general population improves. It also refers to the government's aim of expanding citizens' living
standards through generating employment through infrastructure and education improvements.

In what way(s) is economic growth different from economic development?

Economic growth is the increase in the value of an economy's goods and services, which creates
more profit for businesses. On the other hand, economic development looks at how the citizens
of a country are affected. Apart from their living standards, it also looks at the freedom they
have to enjoy those living standards.

Is it possible for the whole world to be developed? Explain your answer.

Yes, it’s possible. We are all aware that some of the countries here are already developed,
and some are still developing. So, its not impossible to our world to developed years after.