Economics · Economic Growth vs Development
Which of the following best distinguishes economic growth from economic development?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Growth is long-term, development is short-term
- 2Growth includes income distribution, development ignores it
- 3Growth focuses on GDP increase, development includes structural and welfare changes✓
- 4Growth refers to qualitative change, development to quantitative change
Correct answer
Growth focuses on GDP increase, development includes structural and welfare changes
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