Economic Development and Planning

Syllabus tag: KCSE | Business Studies | Form 4 | Topic 30 Development and Planning

Lesson objectives

By the end of this topic, you should be able to:

• Distinguish economic growth from economic development.
• Describe underdevelopment and its characteristics.
• State the goals of development and the factors hindering it.
• Explain development planning and the problems it encounters.

Summary

Economic growth is a rise in output; economic development is growth accompanied by structural and welfare improvement — better health, education, equality and living standards. A country can grow without developing. Development planning sets objectives and allocates resources, and its difficulties arise at both the planning and implementation stages.