why economic devolopment is considered to be a wider concept than economic growth
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Economic development shows the standard of living of the people of the country which shows a more clearer picture of the country's progress economically.
But Economic growth shows only the Per Capita Income or the PCY of a country which can always even be false as the wealth may even be concentrated in a few hands and poverty may still prevail while the PCY of the country is quite high due to the high National Income
But Economic growth shows only the Per Capita Income or the PCY of a country which can always even be false as the wealth may even be concentrated in a few hands and poverty may still prevail while the PCY of the country is quite high due to the high National Income
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