What is Growth:
Growth is a concept that refers to the increase in size, quantity or intensity of something. The word, as such, derives from the verb growing up, which in turn comes from the Latin verb crescĕre.
We can speak of growth in a child who has passed into adolescence, in the economy of a country, in the population of a place, among other things.
Synonyms of growth are increase, increase, enlargement, expansion. Antonym of growth is decrease.
Economic growth occurs when there has been an increase in income or the value of goods and services produced by an economy (GDP) in the global context during a certain period of time.
Economic growth can be determined thanks to a set of economic indicators, among which we can count the production of goods and services, energy consumption, a favorable trade balance, as well as increased savings and investment.
See more about Economic Growth.
Growth and development
Growth and development are associated but different concepts. Growth, for example, is related to the idea of increasing the size, mass or intensity of something, while development has to do with the progress, evolution or improvement of a thing.
For example, the growth of a human being involves a series of physical changes, visible in the body thanks to the increase in size. Instead, its development would be related more to the acquisition of new skills.
The same happens with the economic growth of a country, which simply involves increasing a set of indicators. However, economic development refers to a more complex process, which has to do not only with the ability of a country to generate wealth in a sustained manner over time, but also to be competitive in the world economy at the same time that offers its population optimal living standards.
See also Development.
Population growth, also known as demographic growth, is the quantitative increase that a population experiences during a given period of time.
The way to measure population growth is by calculating the number of individuals in a population per unit of time (usually one year).
Population growth is used to measure the population of any species, but it is particularly used to calculate the increase in the population of human beings.