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ECONOMIC DEVELOPMENT AND ECONOMIC DEVELOPMENT by HC121107141652

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									ECONOMIC DEVELOPMENT
AND
ECONOMIC DEVELOPMENT
Meaning of Economic Development
 Economic Development is the
 process where by per capita
 income of a country increases
 over a long period of time.
Meaning of Economic Growth
Economic Growth is a positive
 change in the level of production
 in goods and services by a
 country over a certain period of
 time. Economic growth is usually
 brought about by technological
 Difference between
 economic growth and
 Economic development
Economic Growth      Economic
                     development
1. Increase in       1. More output and
   output alone.        change in
                        technical and
2. Change in            institutional
   national income      arrangement.
   and change in     2. Change in
   per capita           distribution of
                        national and per
3.Continuous         3. Discontinuous
change.              Change.
                     4. Regulated and
4.Spontaneous in     controlled in
character.           character.
5. Determinants of   5. Economic
economic growth      development is the
may be economic      determinant of
development.         economic growth.
6. Growth is         6. Growth to some
possible without     extent is essentials
development.         for development.
7.Solution of the    7. Solution of the
problem of           problems of
developed            developed
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