KENNEROSEIN KENNEROSEIN

Chemistry

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is the term "economic development" synonymous with "economic growth"? Explain your answer

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NESS4IN NESS4IN

Answer:

Economic Development is a broader concept than Economic Growth. Economic Development refers to the increase of the Real National Income of the economic and socio-economic structure of any country over a long period of time. Economic Growth refers to the rise in the value of all the products produced in the economy.

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