Why can economic growth fail to show economic development?
Economic growth measures rising nominal output, whereas development includes wider improvements in living standards, wellbeing and freedoms.
Economic growth measures rising real output, whereas development includes wider improvements in exports, imports and government revenue.
Economic growth measures rising real output, whereas development includes wider improvements in living standards, wellbeing and freedoms.
Economic growth measures falling real output, whereas development includes wider improvements in living standards, wellbeing and freedoms.
4.3.1 Measures of development Flashcards
Flashcards for Edexcel A A Level Economics 4.3.1 Measures of development, covering the key terms, economic models and case studies you need to recall for Paper 1, Paper 2 and Paper 3. 23 cards, matched to the Edexcel A A Level Economics (9EC0) specification.