Economy and Development
The term "Economy" refers to the system of production, distribution, and consumption of goods and services in a society. It encompasses various sectors, including agriculture, manufacturing, and services, and is influenced by factors such as resources, technology, and government policies. A strong economy typically leads to job creation and improved living standards.
"Development" involves the process of economic growth and improvement in the quality of life for individuals and communities. It includes advancements in areas like education, healthcare, and infrastructure. Sustainable development aims to meet present needs without compromising future generations, often focusing on balancing economic growth with environmental protection and social equity.