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Economics (AS & A Level) · Oct / Nov 2021 · Paper 31 · Question 29

9708Economic development

Why do economists draw a distinction between economic development and economic growth?

  1. Abecause a country's stage of economic development depends on its level of output rather than its growth rate
  2. Bbecause it is the allocation rather than the overall level of a country's resources which determines its economic well-being
  3. Cbecause of the concern about quality of life rather than quantity of output
  4. Dbecause the prime determinant of economic development is investment rather than consumption

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Correct answer: C. because of the concern about quality of life rather than quantity of output

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