Question

The concept of economic growth is _____.

• A. identical with the concept of economic development
• B. narrower than the concept of economic development
• C. wider as compared to that of economic development
• D. unrelated to the concept of economic development

Answer 1

The correct option is B narrower than the concept of economic development

Economic development is the economic growth accompanied by improvement in well being of man. For example just increase in national income or increase in production of goods and services is not an economic development but it is economic growth. It should be accompanied by improvement in the quality of life like improvement in the technology involved, improvement in production, improvement in distribution system. Economic growth is narrower than the concept of economic development.