Concepts Concerning Economic Development

Authors

  • Halbert Easter

Abstract

Economic science is the general understanding of how people, economic institutions, and natural forces interact to affect social and economic aspects. Human beings are economic organisms and their interaction is mediated by economic systems. The study of economic development therefore, is related to how humans create and develop economic systems through economic practices, technology, and knowledge. A well-developed economy allows the economic agents to pursue their individual and group interests while still providing the necessities for social welfare. This article explores the meaning and purposes of economic development as it applies to different areas of life.

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Published

2021-03-25

How to Cite

Easter, H. (2021). Concepts Concerning Economic Development. Economical of Science, 1(1). Retrieved from https://divessar.com/index.php/ecos/article/view/32