Do the two terms, ‘Economic growth and economic development’ mean the same things? Discuss 3 points
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The two terms are quite different from one another.
Economic Growth is a narrow term whereas economic dev. is a wider term.
Economic growth refers to the countrys income but economic dev. refers to per capita income and HDI.
Lastly if a country has a high income then there is a economic growth , if the country has a increase in PCI, HDI and others factors then its said as Economic development.
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