Differentiate economic growth and economic development, Macroeconomics

Differentiate economic growth and economic development.

Economic growth is a raise into real GDP. GDP is only one dimension of development and therefore is a narrow measure of economic welfare.

Economic development is extensive and to do along with key aspects of human well-being. Generally economic development needs:

• Sustainable economic growth,

• A reduction of poverty, inequality and unemployment

• Enhancements in life expectancy, educational achievement, individual self esteem, expanding economic and social choice

• A decrement in fear of starvation and fear of ruin through one bad harvest.

Posted Date: 8/26/2013 7:08:54 AM | Location : United States







Related Discussions:- Differentiate economic growth and economic development, Assignment Help, Ask Question on Differentiate economic growth and economic development, Get Answer, Expert's Help, Differentiate economic growth and economic development Discussions

Write discussion on Differentiate economic growth and economic development
Your posts are moderated
Related Questions
State the Private sector in the circular flow Private sector total income is known as the national income. As private sector receives entire return from the factors of prod

Assume a sudden collapse in the stock exchange of an economy is expected to reduce the future profitability of the firms of the economy. Construct loanable funds market in a c

Diagramatic explanation of pareto optimality

Aggregate Supply in the Short Run Production takes place in business sector on the basis of an expected price for its output. However, costs are incurred in anticipation of sa

The U.K. produces and imports eggs. Suppose that the government imposed a quota on imports: Foreign suppliers could export no more than Q eggs (regardless of price). What effect do

Consider the utility function u(x1, x2) = x1x2. (a) Graph the indifference curves for utility levels 1 and 2. (They are symmetric hyperbolas Asymptotic to both axes). (b) Graph the

Interest rate determination  The real interest rate r will be equal to the equilibrium real interest rate In the classical model we define equil

Q. Money market in the AS-AD model? goods and the money market in the AS-AD model We begin by studying goods market and money market when prices are no longer constant. Fi

How do countries grow Economic growth? Economic growth is attaining by increasing: • Quantity of resources by investment • Quality of resources by training as well as R

Determine the present worth of a geometric gradient series with a cash flow of $50,000 in year 1 and increases of 6% each year through year 8. The interest rate is 10% per year.