Question

Distinguish between economic growth and economic development.​

Answer 1

• economic growth means any increase in real Nation in combination output
• economic development and improvement in the quality of life and living standards example measure of literally life X3 and Healthcare
• citrol parables we would expect economic growth to enable more economic development

Answer 2

Answer:

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

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