sisayzelalem20
Answered

At Westonci.ca, we provide clear, reliable answers to all your questions. Join our vibrant community and get the solutions you need. Get the answers you need quickly and accurately from a dedicated community of experts on our Q&A platform. Experience the ease of finding precise answers to your questions from a knowledgeable community of experts.

compare and contrast Economic Development and economic growth​

Sagot :

Answer: Economic growth and economic development are interrelated terms but they are different.

Explanation:

Economic growth refers to the increase in income of a country for a particular period of time. It refers to the gain and loss a country experiences while exporting and importing the goods and services, whereas the economic development refers to the utilization of money and its impact on the life and living standards of people of the country. The money or income so generated by the country is able to provide better medical facilities, education, sanitation , residential and other facilities to the public. All these parameters contributed by the strong economic foundation of a country. More the income of the country more facilities it can provide to the native people. Hence, economic growth and economic development are interrelated.

We hope you found what you were looking for. Feel free to revisit us for more answers and updated information. We hope you found what you were looking for. Feel free to revisit us for more answers and updated information. Thank you for using Westonci.ca. Come back for more in-depth answers to all your queries.