ECONOMIC GROWTH AND DEVELOPMENT

Abstract

Under Economic Growth mean constantly increasing volume of production in a country, or an increase in gross domestic product as the main quantitative indicators of production for a period of one year. Economic development is not only quantitative changes when it comes to the economic position of the country, but also qualitative changes (changing the economic structure, the emergence of new sectors and industries, new jobs, etc..). They lead to a better and more complete satisfaction of all human needs. Production per capita is a measure of the ability of a society to achieve their goals of social and economic development, all in order to meet the constantly growing social needs. The increase in output per capita in economic theory is expressed as economic growth, without which no economic development, but does not have any economic growth to be a function of economic development.

Keywords

• Growth
• Development
• Investment
• Economy
• Equity
• Changes