Open AccessMeasuring Economic Growth and Development
Publication year - 2019
Publication title -
journal of humanities and social sciences
Language(s) - English
Resource type - Journals
ISSN - 2690-0688
DOI - 10.33140/jhss.02.01.02
Subject(s) - functional illiteracy , economics , poverty , per capita , per capita income , backwardness , economic expansion , development economics , economic growth , economic system , macroeconomics , political science , population , demography , sociology , law
Economic development is thus a multivariate concept; hence there is no single satisfactory definition of it. Developmentis conventionally measured as economic growth with level of development in the process of size of economy. A country'seconomic health can usually be measured by looking at that country's economic growth and development. Most of theeconomists clamored for dethronement of GNP and define development in terms of removal of poverty, illiteracy, diseaseand changes in the composition of input and output, increase in per capita output of material goods.