State what is the difference between economic growth and economic development??

Q: What is economic growth

A: Economic growth is a rise in value of goods and services produced within the economy, adjusted for…

Q: There's quite a diverse set of countries in East Asia that have varying levels of development.…

A: Nature of countries whether Lower , higher or middle income countries are measured by the gross…

Q: Explain the concept of economic development and give the examples

A: Economics as a subject deals with the allocation of scarce resources among humans with unlimited…

Q: Does economic growth mean economic development? Discuss

A: In economics, economic growth is defined as the increase in the goods and services produced in an…

Q: Explain how efficiency, equity and liberty affect development. Cite an example which attributed to…

A: Efficiency is related to a firm's or economy's ability to convert resources into goods efficiently,…

Q: What are the benefits of economic growth on the economy?

A: Economic growth means an increase in the real gross domestic product of the economy. This means…

Q: Explain three polices that facilitate economic growth?

A: Economic growth refers to an increase in the market value of goods and services over a period of…

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A: Sustainable economic growth implies a rate of growth which could be maintained without creation of…

Q: What is the true meaning of Economic Development? How can it influence productivity in a country?…

A: True meaning of Economic Development Economic and social growth is the mechanism by which a…

Q: Does the political freedom existing in democracies always aid economic growth? Why?

A: Economic Growth of a country refer to growth in term of increased production of economic goods and…

Q: Explain the concept of economic development and describe five can use to drive development, in the…

A: Economic development in an economy happened when there will be economic growth continued for a long…

Q: As explained by the economists, economic development and economic growth are the same. TRUE OR…

A: When comparing one period to the next, economic growth is defined as a rise in the production of…

Q: difference between economic development and economic growth?

A: Meaning of Economic Development: The term economic development refers to the situation under which…

Q: Does economic growth leads to economic development? How? In what way? Answer by giving an example.

A: Economic Growth refers to increase in output. It is a quantitative aspect. Economic Development…

Q: How do Economic institution affects Economic growth

A: Economic institutions are responsible for the economic policies formed in the economy. These…

Q: What is the relationship between innovation and economic development? Discuss micro and macro…

A: The economic concepts are somewhere related when it comes to the innovation and economic…

Q: can you please differentiate economic growth with development?

A: Economic Growth: Economic growth measures the growth and progress of the economy in quantitative…

Q: What do you understand as the most important difference between economic growth and economic…

A: Answer to the question is as follows :

Q: Discuss how money contributes to economic growth and\or development? Explain in detail.

A: Answer to the question is as follows:

Q: Name at least three sources of economic development and explain completely that how they lead to…

A: Sources of economic development refers to key agents which leads to increase in development of an…

Q: How economic growth differ from economic development?

A: An economy refers to the production and consumption of goods and services are used to satisfy the…

Q: What are the barriers to development? If development is so difficult, why do nations undertake it?

A: The development is the condition when there would be an increase in income and the per capita income…

Q: If you were in a position to run an economy, what steps would you take to raise our rate of…

A: Answer: *If i were in a position to run an economy *The following steps would be undertaken to raise…

Q: Explain the benefits or cost of economic growth and How to achieve growth?.

A: There are various issues that government has to deal with. Issues such as poverty, unemployment,…

Q: What are the economic growth indicators ?

A: Growth is usually referred to as increase in the rate of increment of Gross Domestic product(GDP).…

Q: What are the phases of economic development? Why is it important to understand the specific steps…

A: Economic development is a series of incremental improvements. The business climate of a country…

Q: Are the two terms economic growth and economic development similar? Explain.

A: No, the two-term economic growth and economic development are not similar. 1-Definition Economic…

Q: Why capital formation and technical progress is a source of economic growth

A: Meaning of Economic Growth: The term economic growth refers to the growth towards the internal…

Q: What is economic development? Explain its nature and importance.

A: Economic growth can be defined as an increase in output through increase in factors of production…

Q: Explain the difference between economic growth and economic development

A: The gross domestic product(GDP) is defined as the market value of all the final commodities(goods…

Q: What is the difference between economic growth and economic development? Give one example in each..

A: Growth and development are two different terms. Growth is a relatively smaller concept than…

Q: How does geography impact economic development??

A: Geographical factors include the level of natural resources in a nation and hence can influence the…

Q: Why Are the Factors of Production Important to Economic Growth?

A: Increases in the production of products and services from one period to the next are referred to as…

Q: What are the three main sources for economic growth in any economy?

A: Economic growth is an increase in aggregate production in the economy. It is measured by computing…

Q: WHAT IS THE IMPORTANCE OF ECONOMIC GROWTH?

A: Economic growth indicates that a country's limited resources are being used more efficiently. It is…

Q: What other factors, aside from labor productivity, capitalinvestment,andtechnology,impacttheeconomic…

A: Meaning of Macroeconomics: The term macroeconomics refers to the situation of economic and…

Q: Needs and objectives for sustainable economic growth?

A: Economic growth is defined as the increase in the production of the economic goods and services in a…

Q: hat is the opportunity cost of economic growth? Discuss in detail (thoroughly and carefully).

A: Economics is about counting costs, and the cost to be counted is the “opportunity cost,” which is…

Q: What factors contribute the most to economic growth?

A: To manufacture goods and services, you'll need resources. However, in terms of the demands and…

Q: Is economic growth possible without economic development? Economic development without economic…

A:

Q: what is economic development and economic growth?

A: Economic development and economic growth are used interchangeably, but both terms are different in…

Q: How can humanity possibly find a balance between economic growth and social justice

A: Social justice is an essential and irreplaceable component of social economic development.Reforms…

Q: Distinguish between economic growth and economic development. How important is the accumulation of…

A: The difference between economic growth and economic development is listed below.

Q: What are three public policies that can facilitate economic growth in a country's economy?

A: The Gross Domestic Product (GDP) is the summation of the final value of all the final goods and…

Q: How does the rate of population growth influencethe level of GDP per person?

A: GDP Per Capita = National IncomeTotal Population GDP per person or GDP per capita is used to measure…

Q: List as many causes of economic growth

A: Economic growth refers to an increase in the total value of all the goods and services produced in a…