Archive
9th of September 2015
Social Studies
Q:


Distinguish between Economic growth and Economic development ?


Tanishqa Rathod - CBSE - Class X

Wednesday, September 09, 2015 at 18:02:PM

A:

Hi Tanishqa,

The difference between economic development and economic growth is that the former is broad and includes various matters such as increase in ratio of proportion and its rate, increase in employment, decrease in inequality, etc. The latter one is limited and shows only increase in production and the rate of increase.

Wednesday, September 09, 2015 at 18:07:PM