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Q.

Choose if the given statement is True/False.


Economic growth focuses on the overall development of a country, whereas  Economic Development focuses only on monetary growth.


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a

True

b

False 

answer is B.

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Detailed Solution

The above statement is False.
Economic growth stresses more on increasing a nation's monetary growth in a financial year. In contrast, Economic Development highlights the overall development of the quality of life in a country, including economic growth. Economic growth is a narrower and short-term process, whereas  Economic Development is a broader and long-term process. Economic growth is only measured in quantitative terms, whereas development is measured in both quantitative as well as qualitative terms.
 
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