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Q.

Choose whether the given statement is true or false.

There is a difference between national development and economic growth.

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a

True

b

False

answer is A.

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Detailed Solution

The above statement is true.
Development and growth do not mean the same thing, as development is a much broader term than growth. Growth measures the quantitative aspect of things, while development measures both quantitative and qualitative elements. Increasing the production of goods and services in our country will increase the GDP, resulting in economic growth. It is noteworthy that economic growth is comparatively more straightforward to achieve than development. Development is a long process; it takes many years for a country to transition from developing to developed.

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