Q.Write the meaning of Economic Growth.

Economic growth is the steady, long-run rise in a nation's real output / real income — a quantitative idea, unlike the broader qualitative idea of development.

Economic growth refers to a sustained and continuous increase in the real national income or real per-capita income of a country over a long period of time.

Key points:

• It is a quantitative concept — it looks only at the increase in output/income.
• "Real" income is measured at constant prices, so growth is not just due to rising prices (inflation).
• It must be sustained over a long period, not a one-time or temporary rise.
• Per-capita real income is often preferred, because it adjusts for population. …