efnahagsþróunar
Efnahagsþróun is an Icelandic term that translates to economic development. It refers to the process by which a nation's economy grows and improves over time. This encompasses a broad range of changes, including increases in the production of goods and services, rising living standards, and advancements in technology and infrastructure.
Key indicators of efnahagsþróun often include growth in a country's Gross Domestic Product (GDP), per capita
The concept is not solely about quantitative growth but also about qualitative improvements. This means focusing