Question

difference between economic growth and economic development​

Answer 1

Answer:

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.

Explanation:

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Answer 2

Answer:

Economic Growth​

It means an increase in national income or per capita income over time​

*It signifies the quantitative aspects of economic progress of a country​

* A country may grow but it may not develop​

*It is a narrow concept​

*Economic Growth does not indicate economic development- as a country may grow but it may not develop​

Economic Development - It is a process whereby the real per capita income of a country increases over a period of time along with a fall in poverty ratio, ,unemployment and income inequality​

It indicates qualitative changes​

*It is a comprehensive term​

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