Economic Development vs Economic Growth Economic Growth is a narrower concept than economic development.It is an increase in a country’s real level of national output which can be caused by an increase in the quality of resources (by education etc.)‚ increase in the quantity of resources & improvements in technology or in another way an increase in the value of goods and services produced by every sector of the economy. Economic Growth can be measured by an increase in a country’s GDP (gross
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the Indians. As a result of the settler’s eagerness for money‚ they failed to think about the location on which they chose to settle‚ the swamp. This geographic condition started the colony off to a negative start. The southern colonies did however‚ have a warm climate‚ swamps‚ and thick rich soil. None of the original settlers of the Southern colonies were use to working; therefore they had no food to eat. When John Smith‚ a key leader in keeping Virginia alive‚ said to his colonists "No work‚ no
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Northern & Southern colonies were close to each other‚ they held many similarities and differences. America was a place of dreams until immigrants began sailing to its’ shores. An influx of immigrants came to America in the 17th century were English‚ but there were also Dutch‚ Swedes and Germans in the middle region‚ a few French Huguenots in South Carolina and elsewhere‚ slaves from Africa‚ mainly in the South‚ and a scattering of Spaniards‚ Italians and Portuguese all through the colonies. They had
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Macroeconomics ECON224-1201A-16 AIU Online Factors behind Economic Growth in Hong Kong and Singapore There are many similarities between Hong Kong and Singapore. Both countries enjoy high economic growth rates for the past three decades‚ they are known as “East Asian Tigers” because they made a transition from poverty to Newly Industrialized Economies (NIE’s) in a very short period of time. Both Hong Kong and Singapore were British colonies with both legal and administrative systems of their
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The causes of the development of the institution of slavery in the period from 1607 to 1750 are due to the growth of farming and the necessity of manual labor to produce a profit. Document 1 leads to this as it shows the changes from 1637-1705 between indentured servants and slaves as the necessity for slaves grew. The most notable dates of this graph are the increase of Servants in 1657-1664 and the fall of these Servants and the growing need for slaves. During this time indentured servants were
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Macroeconomics Project Does the Economic growth of Philippines impact India Introduction The Economy of the Philippines is the 40th largest in the world according to 2012 International Monetary Fund statistics and it is also one of the emerging markets in the world. The Philippines is considered as a newly industrialized country‚ it has been transitioning from one based on agriculture to one based more on services and manufacturing. According to the CIA Factbook‚ the estimated 2012
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differences in social interactions‚ education‚ and the settlement of different religious groups. The social interactions in the northern colonies differed greatly from those of the southern colonies. The northern colonies’ families‚ like in New England‚ centered around patriarchy and male predominance. The southern colonies had an unbalanced ratio of males to females with a male majority. This resulted in greater independence for females. Women had more power and played a more dominant role southern culture
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The relationship between the economic growth and environment is and may always remain a complex matter. Some perceive the emergence of new pollution problems unsuccessful when dealing with global warming. There are others however‚ that have a more optimistic view. They see tremendous progress made in improving air quality in major cities and note ever improving human condition which was made possible by the advances of technology. The limited natural resources of the planet had many years been
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and Economic Growth in India –An Empirical Analysis Prasanna V Salian1‚ Gopakumar. K2 Abstract This paper seeks to examine the relationship between inflation and GDP growth in India. An empirical evidence is obtained from the cointegration and error correction models using annual data collected from the Reserve Bank of India. The result shows that there is a long-run negative relationship between inflation and GDP growth rate in India. Inflation is harmful rather than helpful to growth. These
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