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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 |
Posted by Ankit Kumar Dwibedi 7 years, 11 months ago
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Sarannya Roy 7 years, 11 months ago
1Thank You