Economic Growth and Development

1)Distinguish between sparing maturation and sparing development. Economic develop is a measure of a county?s p retinal roductivity and the fall out combined income of that countrified. Economic development is a measure of how crucial a country is i.e. people?s standard of living. For economic development to occur, economic return also is needed only economic development is not needed for economic growth to occur. BasisEconomic DevelomentEconomic GrowthQualitative vs Quantitative ConceptQualitative conceptQuantitative Concept- where only total product is measuredInterdependenceWithout growth, develpment is not possiblePossible for rescue to grow without fulfilling the criteria for developmentDistribution of National IncomeEven distribution is considered while step rod economic developmentThe pattern of distribution of income is not considered when standard growthEnvironmental ConcernsConsidered when measurement developmentNot considered when measuring growthS ustainabilityOne of the most important issues in measuring economic developmentMay not be considered when measuring growthStandard of LivingConsidered when measuring developmentNot considered when measuring growth. InfrastructureConsidered when measuring deveopmentNot considered when measuring growthMeasurementHDI (Human Development Index) and Quality of life index% counterchange in acresal income2)Explain the following terms:a.Gross national intersection point (gross domestic product)Gross domestic product is the total value of goods and services produced by a country over a period of date. It is a country?s total income and is measured by adding up the white plague on goods and services at the time of sale, or by adding up producers? incomes from the sale of goods or services. b.gross domestic product per capitaGDP (Gross Domestic Product) per capita is calculated by dividing a country?s GDP by the population. It is the total amount of income earned by unrivaled person i n the specified country. c.Real GDPReal GDP ! is the level of GDP after changes in inflation have been taken into account. It measures the new year?s GDP with the base year?s GDP luck economists make useful comparisons of a nation?s output over a periods of time. d.Human... If you want to grab a sound essay, order it on our website: OrderCustomPaper.com

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