Difference between economic growth and economic …

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Difference between economic growth and economic devlopmenr

Posted by Mohit Shah 4 years, 9 months ago

CBSE > Class 10 > Social Science

1 answers

Sia ? 4 years, 9 months ago

Economic Growth	Economic Development
It refers to the increase in the monetary growth of a nation in a particular period.	It refers to the overall development of the quality of life in a nation, which includes economic growth.
It is a narrower concept than that of economic development.	It is a broader concept than that of economic growth.
It is a uni-dimensional approach that deals with the economic growth of a nation.	It is a multi-dimensional approach that looks into the income and as well as the quality of life of a nation.
Short-term process	Long-term process
Quantitative	Both quantitative and qualitative
Developed economies	Developing economies
It is an automatic process that may or may not require intervention from the government	It requires intervention from the government as all the developmental policies are formed by the government
Quantitative changes	Quantitative as well as qualitative changes
GDP, GNP	HDI, per capita Income, industrial development

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CBSE > Class 10 > Social Science