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Economic growth and economic development, though often used interchangeably in casual conversation, represent distinct concepts within the study of economics. Economic growth primarily refers to the quantitative increase in a country’s output of goods and services, measured commonly by the rise in Gross Domestic Product (GDP) or Gross National Product (GNP) over time. It focuses on the expansion of economic activity and the accumulation of material wealth within a society. Growth is largely concerned with numerical indicators and can occur without necessarily improving the living standards or well-being of the population. For instance, a country may experience rapid GDP growth due to increased industrial production, yet this growth might be unevenly distributed, leaving significant sections of the population in poverty. Economic development, on the other hand, encompasses a broader and more qualitative dimension. It refers not only to the growth of income but also to improvements in the overall quality of life, including better ___ ________ ___ ____ ________ ____ _____ ______ _________ ____.
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