(a) Economic development is the process by which there is a long period of sustained growth in the per capital real income of a country, accompanied by fundamental changes in the structure of the economy.
(b) Features of a developing economy•
(i) High level of poverty
(ii) Inadequate infrastructural facilities
(iii) Rapid population growth
(iv) Agriculture is the main occupation/low level of industrialization
(v) High dependency on foreign nations.
(vi) The use of crude technology
(vii) Low per capital income
(viii) Low level of savings and investment.
(ix) Inadequate medical care.
(x) High level of illiteracy
(xi) Political instability.