17.1k views
5 votes
Write the difference between economic growth and development.

User Totoro
by
9.1k points

1 Answer

1 vote

Answer:

Economic growth is defined as the increase in the gross domestic product(GDP) of a country. Economic growth influences economic development positively due to the availability of resources.

Economic development is defined as the increase in the standard of living of citizens of a country. These standard of living involves a good trade routes , good pay, social amenities, major infrastructures etc.

User Abhijith Konnayil
by
7.6k points

No related questions found

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.