What Is The Difference And Similarities Between Economic Growth And Economic Development? Economic growth refers to an increase over time in a country`s real output of goods and services (GNP) or real output per capita income. … Economic development is more relevant to measure progress and quality of life in developing nations. Economic growth is
What Are The Non Economic Factors Affecting Development? Some of the major non-economic factors with a significant impact on economic growth and social development are: culture, religion, the role of family, class, tradition, role of the individual, social and political dependence, the role of government, religion, language as a resource of human capital, corruption, factors
What Is The Concept Of Economic Growth And Development? Economic growth implies a process of increase in real national income and real. per capita income. ● Economic development is defined as a sustained improvement in material well being of society. What is economic growth and development? Economic Growth refers to the increment in amount of