OSVRT NA POJMOVNO RAZGRANIČENJE PRIVREDNOG RASTA I PRIVREDNOG RAZVOJA

This paper deals with the concepts of economic growth and economic development and their categorical differences. On the basis of the perceived aspects of these terms, it can be concluded that economic growth represents quantitative expression of the physical volume of production of an economy, while economic development reperents a qualitative expression of the overall economic environment. It is particularly important to note that these terms are two completely different concepts whose equating ambiguity may arise and cause serious confusion.