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1.Defineeconomicdevelopment.The sustained increase in real per capita income, measured typically by long run growth rate of real per capita income. It is the improvedabilitytomeetbasichuman needs, which includes improvedlifeexpectancy,improvedliteracy,etcFinally, income increases spread to larger parts of the population, reducing poverty and equalizing income distribution. Threecoresvaluesofdevelopmentare:sustenance(theabilityto meetbasicneeds), self-esteem(tobeaperson),andfreedomfromservitude(tobeabletochoose).study of how economics transformed from stagnation to growth and low-income to high-income status, and overcome problems of absolute poverty.oEfficient allocation of existing scarce productive resources and with their sustained growth over time, it deals with the economic, political, and institutional mechanismsSustained increase in real per capita income withoNo increase in the absolute level of povertyoNo worsening of the distribution of incomeoImprovements in the ability to meet basic human needs.3 objectives of developmentoincrease availability of life-sustaining goods oraise levels of livingoexpand range of economic and social choices 2.WhatarethelimitationsofusingGNIgrowthasameasureofdevelopment?