Question

difference between economic growth and economic development
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Answer 1

Answer:

Economic growth reflects an increase in that country's gross domestic product, or GDP. ... Economic development, on the other hand, is a broader term. It indicates an increase in citizens' quality of life and is often measured using the Human Development Index.

Answer 2

Economic Growth :

• Economic Growth is the increase in the real output of the country in a particular span of time.

• Growth refers to an increase in size evident through physical change

Economic development :

• Economic Development is the increase in the level of production in an economy along enrichment of living standards and the advancement of technology.

• Development refers to a process of gradual transformation.

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