Social Sciences, asked by kalelakshay0gmailcom, 11 months ago

explain the different between economic progress and economic development

Answers

Answered by Anonymous

14

In summary
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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