What is difference b/w economic growth and development
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Differences Between Economic Growth and Economic Development. ...Economic growth enables an increasein the indicators like GDP, per capita income, etc. On the other hand,economic development enables improvement in the life expectancy rate, infant mortality rate, literacy rate and poverty rates.
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➡️Economic growth of a country is constituted of various factors like population. natural resources, geographical location, economic policies, education, etc.✔️
➡️So the development of a particular country is totally dependent on the growth of these factors. ✔️
➡️This is how the economic growth of a country ensures development.✔️
➡️In the last 50 yrs it has been observed that a the economic growth rate of dictatorship is better wen compared to that of democracy.✔️
reasons:
➡️1. in a democracy a ver small amount of ultra rich population njys a dispropotionate share in the income✔️
➡️2. the rich are becoming richer and poor are becoming poorer✔️
➡️3. democracy only produce conditions it is upto the people on hoe to efficiently exploit them✔️
➡️the economic growth rate of dictatorship is better, but it cannot be considered as the only criteri for choosing dictatorship over democracy✔️
➡️So the development of a particular country is totally dependent on the growth of these factors. ✔️
➡️This is how the economic growth of a country ensures development.✔️
➡️In the last 50 yrs it has been observed that a the economic growth rate of dictatorship is better wen compared to that of democracy.✔️
reasons:
➡️1. in a democracy a ver small amount of ultra rich population njys a dispropotionate share in the income✔️
➡️2. the rich are becoming richer and poor are becoming poorer✔️
➡️3. democracy only produce conditions it is upto the people on hoe to efficiently exploit them✔️
➡️the economic growth rate of dictatorship is better, but it cannot be considered as the only criteri for choosing dictatorship over democracy✔️
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