How is economic growth different from the economic development

The growth rate of the real volume of gross domestic product (domestic national product),

or the rate of increase in the gross domestic product (national product) in terms of per capita citizen of the country.

Many people confuse economic growth and development. It is necessary to understand on existing mobile number list have that the goal of economic growth is numerical adjustments, and development is shifts in structure due to innovative adjustments and the entrepreneurial resource of people.

To help understand how growth in an economy differs from economic development, we can help compare the signs of economic growth and economic development.

Let's list the provisions, what is the meaning of economic growth:

It implies a non-negative adjustment of the actual output of the state over a period of time.

It implies the growth of such indicators as gross domestic product, income per capita of a citizen of the country.

Economic growth is measured as a positive change in the income of the nation state.

We list the main characteristics of economic development:

The significance of economic growth implies an increase in the production level in the economy simultaneously with the development of processes, raising the living standards of the country's citizens.

It involves increasing life expectancy, reducing child mortality, raising literacy rates and reducing poverty.

It implies a non-negative adjustment to the government's real income.