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Are there types of economic growth?

Updated: 4/28/2022
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14y ago

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Types of economic growth:

There are two types of economic growth:

1.Balanced Economic Growth

2.Un-balanced Economic Growth

1.Balanced Economic Growth:

All the economic sectors are growing at same ratio or percentage,this growth is known as balanced economic growth.

2.Un-balanced Economic Growth:

When some sectors of the economy are growing faster than others,and their rate of growth is different to each other,this growth is known as un-balanced economic growth.

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