Definition of balance and unbalance growth
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Balance growth: occurs when output and the capital stock grow at the same rate. In development economics, balanced growthrefers to the simultaneous, coordinated expansion of several sectors.
Unbalanced growth: is a natural path of economic development. Situations that countries are in at any one point in time reflect their previous investment decisions and development.
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Unbalanced growth: is a natural path of economic development. Situations that countries are in at any one point in time reflect their previous investment decisions and development.
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