"Economics is all about making smart choices to achieve growth and development in the
country". In the light of this statement, distinguish between economic growth and economic
development
"Economics is all about making smart choices to achieve growth and development in the
country". In the light of this statement, distinguish between economic growth and economic
development
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Answer: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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