Economic Development And Human Growth: Economic Growth Vs. Human Development

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Human Development VS Economic Growth Diego Saavedra Teacher: Rodrigo Coss Anaya Due Date: 25/10/2015 Perspectivas del Mundo Actual Economic Growth vs. Human Development: To understand the relationship between the economic growth and human development, first we must know the definition of this two concepts, in order to understand the difference and relationship between this two, and to begin comparing and contrasting them. The definition of “Economic Growth” is: “Economic Growth is an increase in the capacity of an economy to produce goods and services, compared from one period of time to another. The economic growth can be measured in nominal terms, which include inflation, or in real terms. GDP is used to compare one country’s economic growth to another, these is used to take into account population differences between countries.”1 Economic growth is commonly associated with technological changes. One example is the growth of the United States’ economy during the introduction of the Internet. An economy’s growth is an increase in productive capacity and an improvement in the quality of life of people inside that growing economy. Economic growth is the increase in the inflated market value of goods and services produced by an economy over time. This growth is measured as the percent rate in real GDP. An increase in growth caused by more efficient use of physical capital, population or territory is known as an intensive growth. Economic growth is
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