Question

explain the difference between economic growth and economic development
answer must be in 100-150words.​

Answer 1

Answer:

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Explanation:

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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