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Growth, development and the development trap

Growth, development and the development trap

Flow diagram showing a development trap with low incomes, low savings, low investment, low productivity, and a foreign currency gap limiting imports of machinery and technology

Economic growth means an increase in real GDP. Economic development is broader, covering living standards, health, education, rights and the capabilities people have.

4.3.2 Factors influencing growth and development Lesson

  1. A Level
  2. /Economics
  3. /4.3.2 Factors influencing growth and development