Health Economics & Outcome Research: Open Access

ISSN - 2471-268X

Economic Growth

Economic Growth, at Economic growth is an increase in the capacity of an economy to produce goods and services, compared from one period of time to another. It can be measured in nominal or real terms, the latter of which is adjusted for inflation.Economists generally agree that economic development and growth are influenced by four factors: human resources, physical capital, natural resources and technology.Economic growth is defined as an increase in a nation's production of goods and services. An example of economic growth is when a country increases the gross domestic product (GDP) per person.Economic growth means there is an increase in national output and national income. Economic growth is caused by two main factors: An increase in aggregate demand (AD) An increase in aggregate supply (productive capacity).

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