economic development

Definition

The advancement of a nation or society according to several economic factors. Economic development generally includes such trends as technological innovation, improvements in the standard of living and life expectancy, and increases in the amount of invested assets per capita.

Use this term in a sentence

There was a lot of economic development going on in that area of the world and it made us all very happy to see.

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After world war 2, Japan was able to speed up their economic development because of their commitment to technology and innovation.

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The economic development of the nation was helped by the technological breakthrough by the university scientists who developed the new drug.

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sustainable development China-Africa Development Fund (CAD Fund)