Development Economics

Meaning of Economic Growth and the Difference between Growth and Development

Leave a Comment / Development Economics, Study Materials / Enotes World

The term economic development is fundamentally different from the concept of economic growth. In an ordinary sense, the term economic growth is related to the rate of change in GDP or per capita income of the people of the country. Growth concerns the quantitative aspect of change and growth. So, economic growth is a sustained […]

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The Traditional and Modern Concept of Economic Development

2 Comments / Development Economics / Enotes World

There is difficulty to define the term economic development because the meaning of economic development has been changing with the passes of time and different criteria have been used to define it. So, we can see it as the traditional and modern concept of economic development.

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