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Answer any one of the following questions in about 40 to 60 words.
(a)
"आर्थिक वृद्धि की अवधारणा को किसी देश के आर्थिक विकास की पूर्व शर्त माना जाता है"। उपयुक्त
उदाहरण के साथ इस कथन की व्याख्या कीजिए।
(पाठ-3 देखें)
"The concept of economic growth is considered as the pre-condition for the
economic development of a country". Explain the statement with suitable illustration.
1



Answer :

GinnyAnswer

Final answer:

Economic growth is about increasing a country's potential output, while economic development focuses on achieving widespread gains in GDP per capita through structural changes in living standards and job types.


Explanation:

Economic growth refers to the increase in a country's potential output, represented by rightward shifts in the long-run aggregate supply curve or the production possibilities curve. On the other hand, economic development involves moving towards that potential output and achieving widespread gains in GDP per capita through structural changes in living standards and job types.

For example, comparing Côte d'Ivoire and Guinea, the more equal consumption distribution in Côte d'Ivoire indicates progress towards generating widely shared gains in per capita real GDP.


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