Question

"Economic growth is quantitative concept." Explain this statement, using examples.

Answer 1

Qualitative economic growth, by contrast, can be sustainable if it involves a dynamic balance between growth, decline, and recycling, and if it also includes development in terms of learning and maturing. Economic growth is defined, quantitatively, as the percentage change in some measure of output. The indicators of economic growth can be quantified such as GDP and per capita income.