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| 1. |
Different between economic growth and economic development |
| Answer» \tEconomic growthEconomic developmentIt can be defined as a process whereby\xa0a country’s real national income\xa0increases over a period of time.It is a process of increase in income as\xa0well as achieving a more equitable\xa0distribution of income and poverty\xa0alleviation.It is a short-term process.It is a long-term process.It is a narrow concept.It is a broad concept.In this process, quantitative change is expected.In this process, both qualitative and\xa0quantitative changes are expected.\t | |