Question

Economic growth is not enough for economic development of a country. Do ypu agree with this view? Justify​

Answer 1

Answer:

yes, I agree with this statement. There can be economic growth without any economic development. As there can be growth in GDP of a country but there won't be any visible or actual development in the living standards of the people. This could occur when the growth may favour a small percentage of people which certainly would benefit that small%. GDP is not a perfect way of measuring a countries development anyways because it only uses market price to value goods.