Overview. There are significant differences between economic growth and economic development. The term economic growth refers to the increase (or growth) of a specific measure such as real national income, gross domestic product, or per capita income.DP is a specific measure of economic welfare that does not take into account important aspects such as leisure time, environmental quality, freedom, or social justice. Economic growth of any specific measure is not a sufficient definition of economic development.
Top 10 facts about the world. Alexander Miles is an African-American inventor who is largely known for his contribution to the elevator industry. He was awarded a US patent in 1887 for his design, although he was not the person who originally invented the concept of the elevator or elevator doors.
Croesus (pronounced 'KREE-sus') was the King of Lydia, a country in western Asia Minor (corresponding to modern-day Turkey) from 560-547 BCE and was so wealthy that the old expression as rich as Croesus originates in reference to him.lexander the Great defeated the Persians in 334-333 BCE and conquered Asia Minor. In Gordium, capital of Phrygia, he is claimed to have famously cut the Gordian Knot which the oracles claimed meant Alexander would be king of Asia.