However, it is still a normal economy directed by the demand and supply.Due to its GDP, Morocco is now the fifth economy in Africa and is competing with Tunisia about the first place in North Africa.
Economic Development Essay Economic development is the increase in the standard of living of a population.
Economic development includes economic growth among the main criteria.
In fact, these indicators are more related to economic growth so that development goes often with growth.
Scientists often argue that poor countries and mainly “third-world countries” have experienced very fast economic growth with barely little economic development and especially during the periods where they served as resource providers for industrialized countries.
During the early period, Morocco did not know plenty of important events.
The agriculture sector was the first and most important one that the Moroccan economy was hoping to develop.
In addition to the different mathematical methods used to calculate economic development, the HDI (human development index) is another widely used process to calculate development.
This does not mean that the HDI replaces the other methods, but rather adds many other aspects for a considerable understanding of economic development.
Every political agenda of political bodies includes economic and human development.
Sustained economic growth provides opportunities and sufficient incomes for the labor force on the one hand, and profitable business prospects for employers.