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Answer of Tutorial 1

Expected changes in economic growth are quantitative only, as economic growth is concerned solely with the increase in production of goods and services within an economy, measured by changes in GDP. Expected changes in economic development are both quantitative and qualitative, as economic development encompasses not just increases in income but also structural changes to infrastructure, society, politics, and other qualitative factors. Development considers improvements to people's well-being, whereas growth looks only at changes in total output.

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0% found this document useful (0 votes)
60 views3 pages

Answer of Tutorial 1

Expected changes in economic growth are quantitative only, as economic growth is concerned solely with the increase in production of goods and services within an economy, measured by changes in GDP. Expected changes in economic development are both quantitative and qualitative, as economic development encompasses not just increases in income but also structural changes to infrastructure, society, politics, and other qualitative factors. Development considers improvements to people's well-being, whereas growth looks only at changes in total output.

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TUTORIAL 1: FORUM

AUTOMATIC VS MANUAL

LEE MING HUI Did not put the words into context. Must refer to econ. Growth & devlopment
ABDUL HAFIZ SHAM Automation that reduces manual work. Computerised syst works faster.
WONG MING YI Automation can and always will be able to produce more goods and be more
productive- car assembly line, machines
AHMAD HAZWAN Automatic process - persistent rise in national output that can increase in
LIM YIK SENG technology and increase in resources to increase in value good and service
SHALINI ANANTHA produce within in economy. manual include in growth and structural change
KUMAR in economy (HDI).
HARITH ZULKURNAIN automatic process can be defined as a process that goes through changes
without any external influence. even without any external influence,
economies will change in size no matter what. manual requires external
factors in order to usher in change. Economic growth continues to expand or
contract automatically but not development economics . However I’m not
too clear what Harith means by external influence.
WAN NASUHA SILAH economic development is outcome of planned and result-oriented activities. It
takes longer time.
NURUL IZZATI Automatic process refers to economic growth. Economic quantitative value
HASRIZAM (persistent rise in National Output measured by an increase in real GDP. The
rise in GDP can be caused by the improvement of technology, an increase in
MOHAMAD RIDZUAN resources, etc). it is a short-term process in which the result can be seen
BIN HARON within a year.
Manual process refers to economic development is a long-term process
SAKTIRA because it takes many years to see the result. changes in quantitative can
RAVICHANDRAN lead to the changes in qualitative. Economic development includes growth
and structural changes in infrastructure, social, and politics in the economy.
YUGENDRAN A/L economic development, which is the outcome of planned and result-based
BASKARAN activities known as manual process
NURUL ADAWIYAH comparisons between economic growth and economic development by
ABDULLAH looking at its process. economic growth all about the productions of goods
and services within the economy which the process happens automatically
every year. economic development is influenced by many aspects and needs
to be done manually because it needs the help of the society. social and
economic changes take years.
PUTRI NURIN NABILA economic growth also can be clearly seen from upward movement in national
BINTI HAIRY income. economic development cannot be seen directly from the upward
ZU IMANA movement in national income.
NURULJANNAH Growth is a vital and necessary condition for development, but it is not a
AMEERA BINTI sufficient condition as it cannot guarantee development.
MOHAMAD
ECONOMIC GROWTH DOES NOT CONSIDER POLITICAL STABILITY VS ECONOMIC DEVELOPMENT
CONSIDERS POLITICAL STABILITY

Econ growth and political stability are deeply interconnected. Uncertainty in political environ (eg
change in govt may reduce investment & the speed of development. But poor econ performance
may lead to govt collapse and political unrest (low performance due to weak economic and social
policies). Eg, regulations to align private sector engagement with national development goals –
encourage domestic private sector, look at tax incentives to bring in investors.

ABDUL HAFIZ SHAM economic development cannot be complete without politics. New Zealand
BIN SHIZAL FISHAM where Jacinda Ardern, the Prime Minister, is doing an excellent job of fighting
Covid-19. United States has one of the highest numbers of Covid-19 cases. the
richest country in the world has one of the most expensive healthcare
systems and thousands of people are being infected by Covid-19 daily.
LEE MING HUI political stability is a double edged sword. While the peaceful environment
that political stability may offer is a desideratum, it could easily become a
breeding ground for cronyism with impunity.
Malaysians are now facing the biggest political instability during the
HAFEQ SHAKIRIN BIN pandemic. Since the collapse of previous ruling party during the last general
ABDUL HALIM election, the coalition of the new ruling party seems really uncertain. lead to
loss of investments, uncertain policies, bad performance of the stock markets
BORHAN MOSES and recession. New Zealand is one of the best democratic country in the
world right now which can control the situation of the global recession due to
the pandemic with an excellent performance
RIDZUAN BIN RAZIDIN Econ growth basically measures the total volume of goods and services
produced in an economy. Development is concerned with how people are
actually affected. This is why political stability is important. It is because there
are some factors that is interconnected with political stability such as
absolute poverty, education standards, environmental standards, and
transport or infrastructure.
EXPECTED CHANGES IN ECON GROWTH ARE QUANTITATIVE ONLY VS EXPECTED CHANGES IN ECON
DEVELOPMENT ARE QUANTITATIVE & QUALITATIVE

MOHD SHAFIQ BIN Economic growth refers to rise in national output that can be measure by
HUSSIEN calculate the national Gross Domestic Product(GDP). development refers to
improvement of infrastructural, social and political of an economy that will
NG SU JUN also sparks the economic growth. Increase in economic growth doesn't means
increase in economic development because development also focus on the
people welfare.
ABDUL HAFIZ SHAM a number by itself does not mean anything. That is why we have to assign
BIN SHIZAL FISHAM meaning to those numbers. In order to facilitate economic development, we
must derive a course of action based on the statistics. For example, the higher
a country's GDP per capita, the richer it is. Thus, we can say that the UK is
wealthier than Malaysia. So, based on this analysis, there is more work to be
done in increasing our GDP so that we can become a developed nation and
bring about social equality and a prosperous nation.
DIVYA SHANKERI A/P Expected changes in economic growth are quantitative only. This is because
RAVY SHANKER economic growth is concerned with the increase in the production of goods
and services within the economy. Basically it is concerned with the increase in
PHUA SHIANG LIN economy's output. economic development includes growth and structural
changes like infrastructural, social and political in economy. It involves
quantitative aspects such as income but also includes qualitative aspects such
as political stability. Economic development is measured by using the Human
Development Index (HDI).

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