Question

Define economic growth and economic development and explain basic indicators of economic development.

Answer 1

Economic growth reflects an increase in that country's gross domestic product, or GDP. ... This index considers intrinsic personal factors not considered in economic growth, such as literacy rates, life expectancy and poverty rates.

Answer 2

Hey!!!

While several gauges are available to measure these changes, the most common indicators of economic development are Gross Domestic Product (GDP) per capita, the poverty level, life expectancy, the proportion of workers in agriculture and changes in the physical quality of life.