Definition, Meaning & Synonyms
economic progress
Noun
/ɪˈkɒn.ə.mɪk ˈprəʊ.ɡres/
Definition
The advancement and improvement in the economic conditions of a country or region, often measured by increases in income, production, and employment.
Examples
- The nation has seen significant economic progress over the past decade.
- Investments in technology contribute to economic progress.
- Policies aimed at reducing unemployment can lead to economic progress.
Meaning
Economic progress refers to the overall development of an economy, marked by growth in various sectors, enhancement in living standards, and better job opportunities.
Synonyms
- Economic development
- Economic growth
- Financial advancement
- Progressive economy
