GROWTH DEVELOPMENT CHILD
GROWTH AND DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Economic Development
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Economic growth
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Economic planning
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Economic Living standard
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Detailed explanation-1: -Economic Development is the process focusing on both qualitative and quantitative growth of the economy. It measures all the aspects which include people in a country become wealthier, healthier, better educated, and have greater access to good quality housing.
Detailed explanation-2: -While economic growth is a quantitative concept, economic development is a qualitative concept.
Detailed explanation-3: -Economic growth is an entirely concept, while economic development deals with both qualitatively and quantitative aspects of the economy.
Detailed explanation-4: -Qualitative indicators of development refer primarily to the use of qualitative methods such as individual and group interviews to select indicators and to generate the content for and pilot measures in developing countries.
Detailed explanation-5: -Gross Domestic Product (GDP), a widely used indicator, refers to the total gross value added by all resident producers in the economy. Growth in the economy is measured by the change in GDP at constant price.