What is the relantionship between economic growth and economic development?
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Economic development is a measure if welfare, a measure of well-being. It refers to the sustained concerted actions of policy makers to promote the standard of living... Economic growth is the amount of goods and services produced by an economy in a certain period of time. What is the relationship between the two? Does economic growth affect development because the rise in income will lead to more money being spent on human development like health and education?
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Answer:
They are complementary Even exploration of oil needs development Real growth comes out of resources and efforts development comes out of vision and will
Mukesch Kaley at Yahoo! Answers Visit the source
Other answers
You cannot have growth without development. Unless you discover oil in your country.
Bored Goblin
positively correlated.
Good As Gold
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