Multiple choice

'Economic development is the long term and constant reform of physical prosperity which is known through the flow of goods and services'. Who said this?

  1. M. A. Jassawalla

  2. Okan and Richardson

  3. Adam Smith

  4. Karl Marx

Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Okan and Richardson defined economic development as sustained improvement in material well-being measured through goods and services flow. This emphasizes the process aspect and measurement through output indicators. M. A. Jassawalla focused on Indian development economics, while Adam Smith and Karl Marx are classical economists but their definitions differ.