WBCS.LIVE practice question

What is the primary difference between 'Economic Growth' and 'Economic Development'?

Solve this multiple-choice question and check the correct answer with its explanation below.

Answer options

  1. Growth is qualitative, while Development is quantitative
  2. Growth is quantitative, while Development is qualitative
  3. Growth refers to the service sector only
  4. Development refers to the agricultural sector only

Correct answer and explanation

Correct answer: Growth is quantitative, while Development is qualitative

Explanation: āœ… Correct Answer: B) Growth is quantitative, while Development is qualitative šŸ“š Explanation: Economic Growth is a narrow concept referring to the increase in the real output or GDP of a country over time. Economic Development is a broader, multi-dimensional concept that includes economic growth along with improvements in the quality of life, such as better health, education, and reduced poverty. Growth is a means, while development is the end goal of a nation.