What is a regional economic development?
Regional economic development entails the creation of new businesses and expansion of existing businesses, in a way that expands the total number of jobs and results in a rising average wage.
What is an example of socio-economic development?
Socio-economic development is measured with indicators, such as GDP, life expectancy, literacy and levels of employment. Causes of socio-economic impacts are, for example, new technologies, changes in laws, changes in the physical environment and ecological changes.
What is meant by socio-economic development?
Socio-economic development, therefore, is the process of social and economic development in a society. It is measured with indicators, such as gross domestic product (GDP), life expectancy, literacy and levels of employment. Economic growth is often assumed to indicate the level of economic development.
What is the purpose of socio-economic development?
The purpose of economic development is to improve the social and material well-being of all individuals and social institutions with the goal of achieving the highest possible level of human development. Socioeconomic development, therefore, requires the integration of economic and social development.
What are the main objectives of regional development?
Regional development encourages economically disadvantaged communities to improve their economic, social, cultural and environmental well being by realising the full potential of a region’s resources and its inhabitants.
What is regional development planning?
Regional Development Planning is undertaken by governments with the aim of improving the well-being of people in areas where there is concern about present and future living conditions. A planned program of regional development normally attempts to treat these problems comprehensively.
What are the stages of socioeconomic development?
Stages of Economic Growth and Economic Development Still, most development economists agree that the key stages of development are related to three different transitions: a) a structural transformation of the economy, b) a demographic transition, and c) a process of urbanization.
How can we achieve social economic development?
Long term and reflective planning, HRD, social welfare, honesty, National character, optimum utilization of national resources, technology, and strong moral values are essential to achieve a sustainable socio-economic development. Sustainable economy is achieved with economic development.
What are the types of regional planning?
Types of Regions in Regional Planning – UPSC (Geography)
- Macro-Macro level for studying a whole nation or state.
- Macro-level for studying states within a nation.
- Meso level for studying districts.
- Micro-level for studying city/village.
- Micro minor level for studying a particular sector or household.
What is concept of regional development?
Regional development is a broad term but can be seen as a general effort to reduce regional disparities by supporting (employment and wealth-generating) economic activities in regions.
What is the aim of regional economic development planning?
Regional Development Planning is undertaken by governments with the aim of improving the well-being of people in areas where there is concern about present and future living conditions.