Economic Swat

Economic Growth  Vs.  Economic Development :-    (1) .   ●Economic growth increase in National Output or Real National Income.          ●Economic  development means progress in the living standard and quality of life. (2) . ●Economic growth is a narrow concept. ●Economic development is a broader concept. (3) . ●In Economic growth Quantitative changes expected. ●In Economics development both Quantitative as well as Qualitative changes excepted. (4) . ●Economic growth is a short-term process. ●Economic development is a long-term process. (5) . ●Economic growth is applicable to developed Economics. ●Economic development is applicable to developing economics. (6) . ●Quantitative measurement in Economic growth ●Quantitative and Qualitative measurement in Economic development. (7) . ●Economic growth is a unidimensional approach which deals with the economic growth of the nation. ●Economic development is a Multi-dimensional approach that l...

  Economic Development :-   Economic development is the growth of the standard of living of nations people from a low-income economy to a high-income economy in terms of reduction of poverty, inequality, unemployment, etc.  Features of Economic Development :- (a)- Structural Change (b)- Sectoral Change (c)- Qualitative Concept (d)- Long term Concept (e)- Public Participation (f)- Increase in Real National Income Indicators of Economic Development :- (a)- Rise in Gross National Product (GNP) (b)- Rise in Per-Capita Income (PCI) (c)- Industrial Development (d)- Productivity Per Hector of Land (e)- Qualitative Entrepreneurship (f)- Structural Transformation