Question

Explain with the help of examples the difference between economic growth and economic development​

Answer 1

Unlike economic development, Economic growth is an automatic process. ... Economic Growth can be measured through an increase in the GDP, per capita income, etc. However, Economic Development can be measured through improvement in the life expectancy rate, infant mortality rate, literacy rate, and poverty rates.

Answer 2

Answer:

{Economic Growth.}

{Economic growth can be referred to as the increase that is witnessed in the monetary value of all the goods and services produced in the economy during a time period.}

{It refers to the increase in the monetary growth of a nation in a particular period.}

{Economic Development}

{Economic development refers to the process by which the overall health, well-being, and academic level of the general population of a nation improves.}

{It refers to the overall development of the quality of life in a nation, which includes economic growth.}

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