Economic development may be defined as sustained improvement in the economic well-being of the population. This definition incorporates economic growth (commonly measured by increases in GDP per capita), but also involves significant changes in the structure of the economy. These changes gradually shift the focus of national production from agriculture and other primary activities to manufacturing and eventually to services. In the process of this structural re-alignment, modern technologies are increasingly used. Bringing about structural or systemic changes in the economy that can be critical for economic development is largely the job of entrepreneurs.

Entrepreneurship fosters economic development by raising income and increasing the number of well-paid jobs available. In low-income economies, most members of the labor force are self-employed persons or unpaid family workers who work in agriculture or in very small scale industrial or service establishments. The relative importance of these forms of employment declines as economic development proceeds. It is therefore the creation of more paid employment that is directly linked to structural, economic improvement. As Adam Smith emphasized more than three centuries ago, economic development involves broadening markets and increasing division of labor.


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u tried but development economics is another branch of economics n not D Job of an Entrepreneur.