Podcast
Questions and Answers
What is the definition of economic growth?
What is the definition of economic growth?
Economic growth is the increase in the production and consumption of goods and services in an economy over a specific period of time.
Why is economic growth important for an economy?
Why is economic growth important for an economy?
Economic growth is important for an economy as it leads to higher standards of living, increased employment opportunities, and improved public infrastructure and services.
What are some indicators used to measure economic growth?
What are some indicators used to measure economic growth?
Gross Domestic Product (GDP), Gross National Product (GNP), and Per Capita Income are some indicators used to measure economic growth.
