Q.Define Economic Growth.

Economic growth is a purely quantitative measure of how much an economy's output has expanded.

Economic growth refers to the sustained increase in the real volume of goods and services produced by an economy over a period of time. It is usually measured as the percentage rate of increase in Gross Domestic Product (GDP), Gross National Product (GNP), or real per capita income from one year (or period) to the next.

Growth is a strictly quantitative concept: it tells us how much bigger the economy has become, but nothing directly about how the extra output is distributed among the population or whether it has translated into a better quality of life. An economy can therefore grow steadily even while inequality widens or welfare indicators stagnate, which is why growth is treated as only one input into the broader idea of economic development.

Students often equate growth with development and use the terms interchangeably; growth is only the quantitative, output side of the wider concept of development.