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Economic Growth and Development

Presentations | English

Growth does not mean development. A country's general economic health can be measured by looking at that country's economic growth and development. A country's economic growth is usually indicated by an increase in that country's gross domestic product, or GDP. A country's GDP is the total monetary value of the goods and services produced by that country over a specific period of time. A country's economic development is usually indicated by an increase in citizens' quality of life. 'Quality of life' is often measured using the Human Development Index, which is an economic model that considers intrinsic personal factors which aren’t considered in economic growth such as literacy rates, life expectancy and poverty rates. A country's GDP doesn't include intrinsic development factors, such as leisure time, environmental quality or freedom from oppression. Economic growth often leads to economic development. Thus, growth and development are different but interlinked.

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PPTX (30 Slides)

Economic Growth and Development

Presentations | English