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INDICATORS OF GROWTH AND DEVELOPMENT — Economics STD 12 Commerce — Question

Gujarat BoardEnglish MediumSTD 12 CommerceEconomicsINDICATORS OF GROWTH AND DEVELOPMENT3 Marks
Question
Write any six points of difference between Economic growth and Economic development.
✓

Answer

1. Nature: Growth is a quantitative change; Development is both qualitative and quantitative.
2. Scope: Growth is narrow (focus on output); Development is broad (focus on welfare).
3. Necessity: Growth can occur without development; Development cannot occur without growth.
4. Concept: Growth is a process; Development is a result/end.
5. Measurement: Growth is easy to measure; Development is difficult to measure.
6. Requirement: Growth is more relevant for developed nations; Development for developing nations.

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