Economic Developmentis a broader concept than theEconomic Growth.Economic Developmentrefers to the increase of the Real National Income of theeconomicand socio-economicstructure of any country over a long period of time. ...Economic Growthcan be measured through an increase in theGDP, per capita income, etc.

Economic development projects a broader picture of an economy which takes into account an increase in production level or output of an economy along with an improvement in the living standard of its citizens. It focuses more on socioeconomic factors rather than the just quantitative increase in production.Economic development is a qualitative measure which measures improvement in technology, labour reforms, rising living standards, broader institutional changes in an economy.

Economic Growth is the quantitative measure which considers the rise in the output produced in an economy/nation in a particular period in its monetary value.The key parameters of economic growth in any economy are itsGross Domestic Product(GDP) and gross national product which helps in measuring the actual size of an economy. For example, we say GDP of India is 2.8 trillion USD (nominal value) and ranked 6thin globe whereas GDP of the United States of America is 19.3 trillion USD and ranked one.

Economic Developmentis a broader concept than theEconomic Growth.Economic Developmentrefers to the increase of the Real National Income of theeconomicand socio-economicstructure of any country over a long period of time. ... It indicates the yearly increasein thecountry'sGDPor GNP, in percentage terms.

Economic Developmentis a broader concept than theEconomic Growth.Economic Developmentrefers to the increase of the Real National Income of theeconomicand socio-economicstructure of any country over a long period of time. ...Economic Growthcan be measured through an increase in theGDP, per capita income, etc.

Economic Developmentis a broader concept than theEconomic Growth.Economic Developmentrefers to theincreaseof the Real National Income of theeconomicand socio-economicstructure of any country over a long period of time. ...Economic Growthcan be measured through anincreasein theGDP, per capita income, etc.

Economic Developmentis a broader concept than theEconomic Growth.Economic Developmentrefers to the increase of the Real National Income of theeconomicand socio-economicstructure of any country over a long period of time. ...Economic Growthcan be measured through an increase in theGDP, per capita income, etc.

ECONOMIC DEVLOPMENT IS A BROADER CONCEPT THAN THE ECONOMIC GROWTH.