Economy, asked by akshatgambhir2364, 1 year ago

Distinguish between economic growth and economic development and economic development

Answers

Answered by Ysubramanyam
26
Economic Growth :- Economic growth refers to increase in real output of the country. Developed countries are examples for Economic Growth.

Ex:-America,UK,etc.

Economic Development:- Economic development refers to increase the national income and socio-economic structures of a country like infrastructure facilities. It is a broad Concept.

Ex:- India,China,etc.


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Answered by Anonymous
6

Answer:

While several gauges are available to measure these changes, the most common indicators of economic development are Gross Domestic Product (GDP) per capita, the poverty level, life expectancy, the proportion of workers in agriculture and changes in the physical quality of life.

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