Differentiate between economic development and sustainable development?

Answer 1

economic development implies more, particularly improvements in health, education and other aspects of human welfare. Countries that increase their Income but do not also raise life expectancy, reduce infant mortality, and increase literacy rates are missing out of some important aspects of development. The economic development of a country is defined as the development of the economic wealth of the country. Economic development is aimed at the overall well-being of the citizens of a country, as they are the ultimate beneficiaries of the development of the economy of their country.

Economic growth on the other hand, is a narrower concept than economic development. It is defined as the increase in the value of goods and services produced by every sector of the economy. It is usually expressed in terms of the gross domestic product or GDP of the country.

Economic growth is defined by increases in GDP. Whereas, economic development is more of a vague measure usually incorporating social measures such as literacy rates or life expectancy as a means of measuring a country's level of development.

at last its depends on the market weather it high or low of the demand

Answer 2

ECONOMIC GROWTH: economic growth refers to a rise in national or per capita income and product. If a production of goods and services in a country rises, by whether means and along with it average income increases, the country has achieved economic growth.

ECONOMIC DEVELOPMENT: economic development implies more, particularly improvements in health, education and other aspects of human welfare. Countries that increase their Income but do not also raise life expectancy, reduce infant mortality, and increase literacy rates are missing out of some important aspects of development.

Answer 3

what is economic growth and development?

Economic development is the institutional change made to promote economic betterment. It is the process of lmproving the quality of human life through increasing per caita income.

Answer 4

ECONOMIC DEVELOPMENT

Economic Development is a branch of economics that deals with the study of macroeconomic causes of long term economic growth, and microeconomics; the incentive issues of individual households and firms, especially in developing countries. This may involve using mathematical methods from dynamical systems like differential equations and inter-temporal optimization, or it may involve a mixture of quantitative and qualitative methods.

Development is a phenomenon which occurs over a long period of time but economic growth is increase in GNP which can occur when we are able to achieve increase in number of resources or increase in technology or by the combination of both.

Sustainable development is a pattern of resource use that aims to meet human needs while preserving the environment so that these needs can be met not only in the present, but also for generations to come. The term was used by the Brundtland Commission which coined what has become the most often-quoted definition of sustainable development as development that "meets the needs of the present without compromising the ability of future generations to meet their own needs."

A representation of sustainability showing how both economy and society are constrained by environmental limits

Answer 5

Economic development differs from economic growth. Whereas economic development is a policy intervention endeavor with aims of economic and social well-being of people, economic growth is a phenomenon of market productivity and rise in GDP.

Answer 6

what is differencs B/W economic develp and economic growth

Answer 7

Development is when the technology or culture or knowledge advances in a economy. Growth is when wealth or size has advanced.

Answer 8

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