Economics · Economic Growth and Development
Why is the concept of long-term progress in a society considered more comprehensive than short-term economic expansions?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
Share:
- 1Long-term progress focuses on trade and financial markets, while short-term expansion is limited to domestic consumption only.
- 2Long-term growth is focused only on infrastructure development, while short-term progress is concerned with consumer spending.
- 3Long-term societal progress includes not only financial growth but also social well-being, political stability, and improvements in cultural and institutional systems.✓
- 4Long-term progress is solely about increasing the monetary value within a country, while short-term economic expansions focus on output alone.
Correct answer
Long-term societal progress includes not only financial growth but also social well-being, political stability, and improvements in cultural and institutional systems.
Download Single Question PDF
Save this question and verified answer as a clean study sheet with live clickable link.
👥
Share with Friends & Study Groups
Challenge your peer aspirants on WhatsApp or Telegram to solve this question!
Online Test Series
Start Free Mock Test →Preparing for Economics?
Practice full-length mock tests with real exam timers, instant score analysis, and all-India ranking.
Chapter Practice
Practice Economic Growth and Development MCQs →Want more practice questions on Economic Growth and Development?
Solve complete topic-wise tests with detailed solutions on GkGet.
Related Practice Questions
Recommended practice questions in Economics · Economic Growth and Development