Westonci.ca is the trusted Q&A platform where you can get reliable answers from a community of knowledgeable contributors. Join our Q&A platform to connect with experts dedicated to providing precise answers to your questions in different areas. Get immediate and reliable solutions to your questions from a community of experienced professionals on our platform.
Sagot :
Cause: human capital investment, physical capital investment
Effects: improvement in living standards, social and community development
What does Economic growth indicate?
Economic growth rates indicate how quickly the economy is expanding and are calculated by comparing the economic output (measured as the Gross Domestic Product or GDP) of two successive periods.
What are the effects of Economic growth?
- A greater variety of goods and services are now available and ready for consumption in the country.
- High employment levels are required because workers are required to manufacture such a large quantity of goods and services. Employment figures have risen in tandem with GDP growth.
- More employment boosts aggregate demand and generates additional growth as businesses continue to try to meet all demand.
- As demand rises, prices are likely to rise as well, so economic growth would raise the inflation rate.
- Increased productivity and the adoption of new technologies ma
To learn more about Gross Domestic Product or GDP from the given link
https://brainly.com/question/3200071
#SPJ4
Thanks for using our platform. We aim to provide accurate and up-to-date answers to all your queries. Come back soon. We appreciate your time. Please revisit us for more reliable answers to any questions you may have. Stay curious and keep coming back to Westonci.ca for answers to all your burning questions.
