What is growth? how it is different from development?
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growth
growth is quantitative
growth comprises of height, weight , size , shape of a body organ like brain etc
it is due to cell division
growth is for limited period
growth can be measured
development
development is quantitative as well as qualitative
development takes place till death
it can be observed by matured behaviour
growth is quantitative
growth comprises of height, weight , size , shape of a body organ like brain etc
it is due to cell division
growth is for limited period
growth can be measured
development
development is quantitative as well as qualitative
development takes place till death
it can be observed by matured behaviour
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1
1Economic development implies changes in income, savings & investment along with progressive changes in socio-economic structure of the country.(institutional and technological changes). 2 it relates to growth of human capital indexes, structural changes that improves the general population's quality of life.3 It brings qualitative and quantitative changes in the economy.4 it is concerned with structural changes in the economy.
Economic Growth refers to an increase in real output of goods & services in the country.2 growth relates to gradual increase in 1 of the components of GDP.3 Growth brings quantitative changes in the economy. 4 Growth is concerned with increase in economy's income.
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