11.1 Summary o Economic increase and economic development Economic Growth: is defined that the increased percentage about the relative comparison between current GDP and the former GDP △Y1-Y11 Y t-1 .s Economic Development: is the result of the continuing economic growth 复表经济学院11.1 Summary  Economic increase and economic development ❖ Economic Growth：is defined that the increased percentage about the relative comparison between current GDP and the former GDP ❖ Economic Development：is the result of the continuing economic growth. 1 1 − − − =  t t t Y Y Y Y Y