Question

is economic development and economic growth same or different. discuss​

Answer 1

Hello friends.

• No, Economic growth and Economic development are distinct and different in terms of their contents and coverage. Economic growth can be defined as a process whereby a country's real national income increases over a long period of time. ... Thus, economic development is a wider concept than economic growth.

• Economic development, on the other hand, is a broader term. It indicates an increase in citizens' quality of life and is often measured using the Human Development Index. This index considers intrinsic personal factors not considered in economic growth, such as literacy rates, life expectancy and poverty rates.