Difference between economic growth and economic …

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Difference between economic growth and economic development in tabular form for 5 marks

Posted by Sanika Walimbe 5 years, 4 months ago

CBSE > Class 10 > Social Science

1 answers

Gaurav Seth 5 years, 4 months ago

<th>BASIS FOR COMPARISON</th> <th>ECONOMIC GROWTH</th> <th>ECONOMIC DEVELOPMENT</th>

Meaning	Economic Growth is the positive change in the real output of the country in a particular span of time.	Economic Development involves rise in the level of production in an economy along with the advancement of technology, improvement in living standards and so on.
Concept	Narrow	Broad
Scope	Increase in the indicators like GDP, per capita income etc.	Improvement in life expectancy rate, infant mortality rate, literacy rate and poverty rates.
Term	Short term process	Long term process
Applicable to	Developed Economies	Developing Economies
How it can be measured?	Upward movement in national income.	Upward movement in real national income.
Which kind of changes are expected?	Quantitative changes	Qualitative and quantitative changes
Examples	GDP, GNP	HDI, Per capita Income, Industrial Development

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