Social Sciences, asked by mehjabeen00, 4 months ago

Difference between economic growth and economic development .
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Answered by ridahussain86
2

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Difference between economic growth and economic development ?

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Economic growth means an increase in real national income / national output. Economic development means an improvement in the quality of life and living standards, e.g. measures of literacy, life-expectancy and health care. Ceteris paribus, we would expect economic growth to enable more economic development.

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Answered by devanshd0007
1

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In summary

Economic growth means an increase in real national income / national output. Economic development means an improvement in the quality of life and living standards, e.g. measures of literacy, life-expectancy and health care. Ceteris paribus, we would expect economic growth to enable more economic development.

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