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OCW Scholar - Principles of Microeconomics 17 Online
OpenStudy (anonymous):

When will economic growth not transform into economic development

OpenStudy (anonymous):

Usually it will. A traditional economy will sometimes see growth but no development, or very small development. Remember, competition promotes development, so if a economy has no competition, there is no incentive to develop.

OpenStudy (anonymous):

thanks dude!

OpenStudy (anonymous):

if it does not improve the nations living standards in terms of improved lifestyles,access to quality healthcare and education,welfare facilities etc

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