diff between economic progression and business
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Economic Development is a broader concept than the Economic Growth. Economic Development refers to the increase of the Real National Income of the economic and socio-economic structure of any country over a long period of time.Economic Growth can be measured through an increase in the GDP, per capita income, etc.
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Explanation:
Business and economics go side by side, wherein, businesses offer products and services that generate economic output, for example, businesses sell goods and services to consumers, whereas, economics determine the supply and demand of such products in a particular economy. ...
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