A development model refers to a strategy or approach used by countries to achieve economic growth, social progress, and improvement in living standards.
Related terms
Economic Development: The process of improving the economic well-being and quality of life for individuals in a country.
Sustainable Development: An approach that aims to meet the needs of the present generation without compromising the ability of future generations to meet their own needs.
Industrialization: The process by which an economy transforms from primarily agricultural-based production to manufacturing-based production.