ECS3707 Development Economics
University of South Africa
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Summary
ECS3707 SUMMARISED NOTES 2022/2023
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--327October 20222022/2023
- ECS3707 
SUMMARISED NOTES 
2022/2023 
1 | P a g e 
Development economics 
Study unit 1 
Notes developed by Leigh-Ann Bailie and Chris Langeveldt 
An economy in which production is mainly for personal consumption and the standard of living yields 
little more than basic necessities of life – food, shelter, and clothing. 
Development 
The process of improving the quality of all human lives and capabilities by raising people’s levels of 
income, self-esteem and freedom. 
Distinguish between: tr...
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