Ans. Economic growth refers to an increase in the production and consumption of goods and services in an economy over a period of time. It is often measured by the growth rate of Gross Domestic Product (GDP). On the other hand, economic development refers to the improvement in the standard of living, well-being, and quality of life of people in an economy. While economic growth focuses on quantitative aspects, economic development encompasses both quantitative and qualitative aspects of an economy, including factors such as education, healthcare, infrastructure, and income distribution.