Economic growth is a term used to indicate the increase of total GDP. It is often measured as the rate of change of gross domestic product (GDP). Economic growth refers only to the quantity of goods and services produced; it says nothing about the way in which they are produced. Economic development, a related term, refers to change in the way goods and services are produced; positive economic development involves the introduction of more efficie...
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Economic growth is a term used to indicate the increase of total GDP. It is often measured as the rate of change of gross domestic product (GDP). Economic growth refers only to the quantity of goods and services produced; it says nothing about the way in which they are produced. Economic development, a related term, refers to change in the way goods and services are produced; positive economic development involves the introduction of more efficient or "productive" technologies or forms of social organisation.
Economic growth is that branch of one,which deals with the study of rate of change of gross domestic product,referring to the quantity of goods and services produced.
Economic growth can either be positive or negative. Negative growth can also be referred to by saying that the economy is shrinking. Negative growth is associated with economic recession and economic depression.
Gross national product (GNP) is sometimes used as an alternative measure to gross domestic product. In...
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