Ask a Teacher

Search



what is economic growth?
A positive change in the level of production of goods and services by a country over a certain period of time. Increase in the capital stock, advances in technology, and improvement in the quality and level of literacy are considered to be the principal causes of economic growth. Economic growed is measured by comparing gross national product (GNP) in a year with the GNP in the previous year.


comments powered by Disqus