Economic Growth

Economic Growth is defined as the way that the real income of an economy increases over time. This generally signifies that the economy is wealthier and producing more, individuals are better off, and that living standards are higher. A more technical definition would go into the way that Economic Growth is measured – usually in … Read more

Economic Growth

Subjects: Economics, Investment, Goods, Capitalism. Keywords: total productive capacity of an economy, Economic growth, decisions of the individuals, Buechner Recording, real wage rate, United States, alternatives uses of an economies, better machines.   Economic growth is the most important study in economics today. The first book on economics was by Adam Smith The Wealth of Nations … Read more