Development means “improvement in country’s economic and social

conditions”. More specially, it refers to improvements in way of managing an

area’s natural and human resources in order to create wealth and improve
people’s lives.

Economic growth refers to increases in a country's national income or national

income per head commonly measured by Gross Domestic Product (GDP)

The Growth Game

 Growth rates of national income are followed closely by policy-makers

 In order to better understand contemporary growth prospects, it is useful to

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examine historical growth patterns

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 From this point of view, development means an increase in the size or pace

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of the economy such that more products and services are produced.
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Conventionally, a common assumption has been that, if an economy
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generates more products and services, then humans will enjoy a higher
standard of living.
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aC s

 The aim of many conventional approaches to development has been to

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increase the size of the economy (economic growth) in order to increase

the output of products and services. Of course, without any change in the
fundamental economic processes involved, the production of more
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ar stu

products and services will inevitably require more raw materials and energy,
and will generate more waste.
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