this document contains economic growth and development and i recommend you all to read it and comment on it.
there is relationship between economic growth and unemployment
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Growth and Development chart as taken from Wong's Essentials of Pediatric Nursing.
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this deals with economic situation of india and other countries.Full description
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Economic Growth and Development
Economic Growth
Economic Development
Scope
Growth is concerned with increases in Development is concerned with the economy's output structural changes in the economy
Growth
Growth relates to a gradual increase in one of the components of Gross Domestic Product: consumption, government spending, investment, net exports
Implication
It refers to an increase in the real output of goods and services in the country like increase the income in savings,in investment etc.
Measurement
Quantitative. Increase in real GDP. Shown by PPP
Development relates to growth of human capital indexes, a decrease in inequality figures, and structural changes that improve the general population's quality of life It implies changes in income,saving and investment along with progressive changes in socioeconomic structure of country (institutional and technological changes) Qualitative.HDI (Human Development Index), genderrelated index (GDI), Human poverty index (HPI), infant mortality, literacy rate etc.
Effect
Brings quantitative changes in the economy
Brings qualitative and quantitative changes in the economy
Concept
Narrower concept than economic development
Normative concept
Relevance
Economic growth is a more relevant metric for progress in developed countries. But it's widely used in all Economic development is more countries because growth is a relevant to measure progress and necessary condition for development. quality of life in developing nations.
