Distinguish between economic growth and development. Briefly mention the main benefits that economic growth confers upon society.

Economic growth and economic development are two fundamental concepts in economics, but they are not synonymous. While both contribute to the improvement of a nation’s welfare, they differ in their scope, focus, and implications for society.

Economic Growth refers to the increase in the output of goods and services in an economy over time. It is generally measured by the rise in a country's Gross Domestic Product (GDP) or Gross National Product (GNP). Growth typically indicates that the economy is expanding, and it often implies an increase in income levels, employment opportunities, and overall material wealth. This process is usually driven by factors such as increased investment, technological advancements, improvements in human capital, and greater utilization of natural resources.

The key characteristic of economic growth is that it is quantifiable and focuses mainly on the increase in the economy’s productive capacity. Economic growth does not necessarily take into account the distribution of wealth, income inequality, or the quality of life. It simply reflects an aggregate increase in output, often _______ _________ ___ _________ ______ ______ ____.
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