What is economic growth?

Asked 16-Nov-2017
Viewed 1183 times

1 Answer


Economic growth is the increase in the product associate degreed services made by an economy, usually a nation, over an extended amount of time. It’s measured as proportion increase in real gross domestic product (GDP) that is a gross domestic product (GDP) adjusted for inflation. The gross domestic product is the market price of all final product associate degreed services made in an economy or nation.

So, however, will a nation or economy frequently increase the gross domestic product such the economic process trends upward? There are 3 main styles of economic process theories over time that have all tried to answer that actual question. The Classical, Neo-Classical, and modern-day theories can ever be delineated.
What is economic growth?
Economic growths also depend on the development of infrastructure of a country. Just like the no. of developed cities in a country which are enriched in its facilities which include transport, companies, factories, tourist places and things which are a major potion for the entire growth of a country.

Thanks for the explanation. - Anonymous User20-Mar-2019