Economics · Economic Growth and Development
What is a key difference between economic growth and economic development?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Economic growth refers to an increase in output, while economic development includes structural and social progress.✓
- 2Economic development focuses on quantity, while growth focuses on quality.
- 3Economic growth is broader and includes development.
- 4Economic development measures exports only.
Correct answer
Economic growth refers to an increase in output, while economic development includes structural and social progress.
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