Economic prosperity refers to the steady increase in GDP, gross national product and per capita income. That is, economic prosperity is related to the growth of production, with quantitative changes that take place such as labor force, consumption, capital and trade volume. Occurs with diffusion in. The most appropriate criterion for a country's economic prosperity is real income per capita.
National Income
Per Capita income = ––––––––––––-–---
Population
"Economic development means the process that results in efficient exploitation of all production tools of the country, a steady and long-term increase in national income and per capita income, and an index of standard of living and general welfare of the people." That is, it includes both economic and non-economic thieves. Economic stages include the variables mentioned above and include qualitative changes within the non-economic four and social and cultural sectors. Such as education and literacy rate, nutrition level, health services, life expectancy and sexual development etc.
Thus economic growth is broader than economic prosperity. There is necessarily more prosperity when there is economic development, but it is not necessary that there is economic development also if there is economic prosperity.
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