Economy, asked by ovo9, 1 month ago

difference between economic growth and development?
NOTE:full with explanation please I have only these points and I have to write it in the class work​

Answers

Answered by Vermaaryan15
0
Economic growth is the increase in goods & services produced by an economy or nation, considered for a specific period of time. The rise in the country’s output of goods and services is steady and constant and may be caused by an improvement in the quality of education, improvements in technology, or in any way if there is value addition in goods and services which is produced by every sector of the economy.

It can be measured as a percentage increase in real gross domestic product. Where a gross domestic product (GDP) is adjusted by inflation. GDP is the market value of final goods & services which is produced in an economy or nation.
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