Economic growth is the increase of per capital GDP or other measures of aggregate income, typically reported as annual rate of change in real GDP. A variety of measures of national income/output are used in economics to estimate total economic activity in a country or region, including gross domestic product (GDP), gross national product (GNP), & net national income (NNI).
total growth minus increases in capital and labor
Geographers use general measures of development to analyze this progress
Economics is the study of the ecosystem wheres econometrics is the measure of the ecosystem in metres. e.g. they get a ruler and measure how big the ecosystem is.
Unemployment rate
The advantages of using GDP as a measure of productivity and economic health is that GDP is universal and can be used to measure an economy's growth or decline. The disadvantage of using GDP as a measure of productivity and economic health is that it does not effectively measure the quality of products.
total growth minus increases in capital and labor
Geographers use general measures of development to analyze this progress
The Genuine Progress Index (GPI) is an alternative economic indicator that seeks to measure the overall well-being and quality of life of a society, taking into account factors such as environmental sustainability, income distribution, and social welfare. It adjusts traditional economic measures like GDP to provide a more holistic view of a country's progress and development.
Micro economics
Economics is the study of the ecosystem wheres econometrics is the measure of the ecosystem in metres. e.g. they get a ruler and measure how big the ecosystem is.
An entrepreneur cannot measure progress without having something to measure that progress against and is why planning is so important.
Income inequality
three
Unemployment rate
Measure of Academic Progress
CPI (Consumer price index)
The advantages of using GDP as a measure of productivity and economic health is that GDP is universal and can be used to measure an economy's growth or decline. The disadvantage of using GDP as a measure of productivity and economic health is that it does not effectively measure the quality of products.