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What is capital deepening and how does it contribute to economic growth?
It is the process of increasing the amount of capital per worker. Also it contributes by firms and employees itself.
How does education affect economy?
Education directly affects the level of human capital (skill and knowledge we acquire), which is an input in economic production. Human capital increases economic growth by decreasing the costs of production and therefore increasing cost efficiency.
How did trade fairs affect the economic growth?
hgh
What economic growth factor involves human resources?
Capital Goods
How does taxation contribute to economic growth and development?
It doesn't. Rather, taxation removes capital from the private sector where all economic growth and development occur.
What is capital deepening and how does it contribute to economic growth?
It is the process of increasing the amount of capital per worker. Also it contributes by firms and employees itself.
How does education affect economy?
Education directly affects the level of human capital (skill and knowledge we acquire), which is an input in economic production. Human capital increases economic growth by decreasing the costs of production and therefore increasing cost efficiency.
What the the four factors of economic growth?
Physical capital, human capital, natural capital & technological change.
What are the four factors of economic growth?
The four factors of economic growth are natural resources, human capital (labor), physical capital (machinery, buildings), and technology. These factors work together to drive productivity, innovation, and overall economic expansion in a country.
How did trade fairs affect the economic growth?
hgh
What couses economic growth?
Any increase in Labor, Capital, or Technology
What economic growth factor involves human resources?
Capital Goods
How does taxation contribute to economic growth and development?
It doesn't. Rather, taxation removes capital from the private sector where all economic growth and development occur.
How does the growth of business affect the capital?
With growth of business, the first problem that arises is shortage of capital. Infusion of fresh capital to accelerate growth can be arranged from private source or through bank finance.
How does geography affect Economic growth?
Geography can have a big affect on economic growth. For example, in Africa, many countries (such as the Democratic Republic of the Congo) are landlocked and can therefore only trade with their immediate neighbors.
What role does saving play in the economic growth process?
Saving play in the process of economic growth reduces poverty in an economy and improves the standards of living.
Factors influencing economic growth?
That'll be any factors that influence the components of the Aggregate Demand (Consumption + Investment + Government spending + Net exports). Any factors that influence each and every component of AD will affect economic growth (through the multiplier process).
