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Difference Between Growth and Development

Jun

7

2011

What is the Difference Between Growth and Development?

In: Economy Asked By: khristine [216 Blue Star Level]
Answer #1

Upon hearing (or reading) the words “growth” and “development”, one can easily assume that both terms are synonymous with each other or have the same meaning. At some point, this assumption is true especially when you look at the dictionary or thesaurus. However there are cases when both terms are used differently and sometimes convey a distinct meaning. These differences are made clear when used in the fields of economics and biology as an example.

By definition, the term growth corresponds with the process of becoming bigger, prolonged, or increased in number. Growth deals with physical and structural changes as compared to development that affirms the process of transforming or improving something to reach a different level. Also, growth is an ingredient to development but development can exist even without growth.

In economics, growth is a much limited concept that deals primarily with small economic changes with the likes of gradual increase in investments, savings, and more. Economic development on the other hand has a broader concept that refers to the over-all improvement of a certain area including political, social, and financial advancements.

In biology, growth refers to a visible increase in size of an organism that one undergoes all throughout life. For humans and other animals growth may end when one reaches adulthood. But to plants, they continue to grow until they expire. Development conversely refers to the natural progression of an organism that is more complex and deals with internal processes like social, mental, psychomotor, and much more.

On the whole, the perception of growth is greatly based on quantitative assessment of things both abstract and tangible. Distinctively, the idea of development is based on both qualitative and quantitative evaluation of objects and concepts. But whatever the differences may be, both words signifies an increase, progress, and a positive turnover.

Answers Answered By: khristine [216 Blue Star Level]
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