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Difference between development and growth |
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Answer» Growth means increase in size but development means overall increasement In accordance to me growth is for short period of time whereas development is for long period of time \tEconomic growth has a single dimension; Economic development is multi-dimensional.\tEconomic growth reflects only quantitative changes; Economic development shows both quantitative and qualitative changes.\tEconomic growth shows the change in output; Economic development shows changes in the output along with technology and institutional arrangements.\tEconomic growth is spontaneous; Economic development is either regulated or controlled.\tEconomic growth is possible without development; economic development is not possible without growth. |
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