Measurement
Economic Growth
Economic growth can be measured easily by
annual increase in per capita income after a
certain period of time.
Economic growth is measure in terms of gross
domestic product (GDP) or related indicators,
such as gross national product (GNP) or gross
national income (GNI) which are derived from the
GDP calculation.
Quantitative
Economic Development
Economic development is easier to describe than
to measure it.
Development is concerned with how people are
actually affected. It is measure using human
development index (HDI), Index of Human
Poverty (HPI), and Genuine Progress Indicator
(GPI)
Both quantitative and qualitative