Economic Growth

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Economic Growth

Postby John » Sat Dec 21, 2013 8:57 am

What is economic growth?
John Abraham
John
 
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Re: Economic Growth

Postby John » Sat Dec 21, 2013 9:00 am

Its nothing but increase in the production and consumption of goods and services.
John Abraham
John
 
Posts: 419
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Re: Economic Growth

Postby John » Sat Dec 21, 2013 9:00 am

Economic growth is an increase in the production and consumption of goods and services. It entails increasing population and/or per capita consumption. It is indicated by increasing gross domestic product (GDP). Economic growth literally refers to an economy that is getting bigger, not necessarily one that is getting better.
John Abraham
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