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Number 2

The document discusses the concepts of economic growth and development, highlighting their importance in improving a country's economy and quality of life. It defines economic growth as an increase in GDP and economic development as improvements in well-being, emphasizing the differences between the two. The presentation also covers indicators of growth and development, factors influencing them, their significance, challenges faced, and concludes with the need for sustainable and inclusive development.

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4 views11 pages

Number 2

The document discusses the concepts of economic growth and development, highlighting their importance in improving a country's economy and quality of life. It defines economic growth as an increase in GDP and economic development as improvements in well-being, emphasizing the differences between the two. The presentation also covers indicators of growth and development, factors influencing them, their significance, challenges faced, and concludes with the need for sustainable and inclusive development.

Uploaded by

keziah54152
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as ODP, PDF, TXT or read online on Scribd
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Economic Growth and

Development
Group 8 Presentation

Members:
KK, [Member 2], [Member
Topic Outline
•
1. Introduction
•
2. Definitions
•
3. Differences Between Growth and
Development
•
4. Indicators and Measures
•
5. Factors Influencing Growth and
Development
•
6. Importance
Introduction
•
Economic growth and development are
important for improving a country’s economy
and quality of life.
•
They help in reducing poverty, increasing
income, and enhancing public services.
•
Governments and institutions work to boost
growth while ensuring development is
inclusive and sustainable.
Definitions
•
Economic Growth: The increase in the value of
goods and services produced by an economy
over time, measured mainly by GDP.
•
Economic Development: The process by which
the well-being of people improves, including
health, education, income, and employment.
•
Growth is more about numbers, while
development is about actual improvements in
people's lives.
Differences Between Growth and
Development
•
Growth is quantitative (GDP increase),
Development is qualitative (life quality).
•
Growth can happen without development, but
development includes growth.
•
Growth is measured by economic data;
development includes social indicators like
health and education.
•
Example: A country can grow rich but still have
poor education and healthcare systems.
Indicators and Measures
•
1. GDP (Gross Domestic Product): Total value
of goods and services produced.
•
2. GNI (Gross National Income): GDP + income
from abroad.
•
3. HDI (Human Development Index): Measures
life expectancy, education, and income.
•
4. Literacy Rate: Percentage of people who can
read and write.
•
5. Life Expectancy: Average number of years a
Factors Influencing Growth and
Development
•
1. Education: Better education increases
skilled workers and innovation.
•
2. Health: Healthy people are more productive
and live longer.
•
3. Infrastructure: Roads, electricity, water
supply boost productivity.
•
4. Political Stability: Peace and good
governance attract investment.
•
5. Technology: Modern technology increases
Importance of Growth and
Development
•
1. Reduces poverty and improves living
standards.
•
2. Creates more job opportunities.
•
3. Enhances access to healthcare and
education.
•
4. Leads to better housing, sanitation, and
services.
•
5. Attracts foreign investors and improves the
economy.
Challenges in Achieving Growth
and Development
•
1. Corruption: Misuse of public funds hinders
progress.
•
2. Inequality: Growth may not benefit
everyone equally.
•
3. Debt and Inflation: Too much borrowing and
rising prices can damage the economy.
•
4. Conflict and War: Instability discourages
investment and development.
•
5. Poor Governance: Lack of planning and
Conclusion
•
Economic growth and development are both
important for national success.
•
They work hand-in-hand to improve people’s
lives and strengthen the economy.
•
A country should focus on not just growing,
but also ensuring everyone benefits from that
growth.
•
Sustainable and inclusive development leads
to long-term progress.
Q&A / Discussion
•
Do you have any questions or contributions?
•
Thank you for your attention!

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