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Understanding Economic Growth IGCSE by VeraDan is a document available to read on EtoBox.
What is Understanding Economic Growth IGCSE about?
Economic growth is the annual increase in the level of national output measured by the percentage change in gross domestic product. GDP is the monetary value of goods and services produced within a country in one year and includes consumption, investment, government spending, and net exports. Real GDP adjusts for inflation while GDP per capita measures GDP divided by population. Economic growth shifts the production possibilities curve outward and is caused by increases in resources, technology, and capital
- Author
- VeraDan
- Language
- EN