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Determinants factors of economic growth
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Different between economic growth and economic development
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Cont..
Economic Growth Economic Development
Economic growth relates to a Economic development relates to
gradual increase in one of the growth of human development
components of GDP: consumption, indexes: decrease in inequality, and
government spending, investment, structural changes that improve the
net exports. general population's quality of life.
Narrower concept than economic Normative concept.
development.
Economic growth is a more relevant Economic development is more
metric for progress in developed relevant to measure progress and
countries. quality of life in developing nations.
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How does contribute education to economic growth?
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How does contribute education to economic growth?
Education can improve economic growth performance by:
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