Question:
Why is Economic Growth easy to Define, but not Economic Development?
Author: eric_galvaoAnswer:
-Econ Growth just is an Increase in the size of the nation's GDP -Econ Development is a Normative Concept and requires Value Judgements on what would make a more Developed Nation. The Aim is to Measure how Living Standards and Peoples General Welfare Changes over Time
0 / 5 Â (0 ratings)
1 answer(s) in total