Answer:
Economic development
Step-by-step explanation:
Economic development is a process of structural transformation with continuous technological innovation and industrial upgrading. In the past, people got their food and water from agricultural land and natural water sources. Nowadays, in this world of technology, everything is transformed. Anyone can access the food, water, energy, and manufactured goods as their basic needs at an affordable cost. These all transformations come under economic development. This development increase labor productivity, and accompanied improvements in infrastructure and institutions, which reduce transaction costs.