economic growth is the growth in GNP or GDP.people focus more on economic growth than economic development.it is not neccesary that wherever there is economic growth, the economic development must increase too.economic growth is the availability of an economy to generate.and sustain annual incrase in GNP.the key components of economic growth are capital investment, growth in labour force and technological progress.
economic growth is measured by GNP.GNP measure the country's total output of goods and services at current price that is excluding inflation. GNP is comprised of four sectors. first is consumption by individual second is investment by business third is government spending and the last is net export .GNP per capita can be calculated by dividing GNP from total population.
economic growth is measured by GNP.GNP measure the country's total output of goods and services at current price that is excluding inflation. GNP is comprised of four sectors. first is consumption by individual second is investment by business third is government spending and the last is net export .GNP per capita can be calculated by dividing GNP from total population.
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