strong property rights, patents and copyrights, efficient financial institutions, literacy and widespread education and free trade.
There are many outcomes that can meet economic growth goals. Some factors that could help meet economic goal growth would include more education, jobs, manufacturing, and industries.
All of these
Things that can affect economic growth include: interest rates, the political environment, weather and a host of other things. The Federal Reserve sets monetary policies to help combat these factors.
Economic growth is measured by an increase in the real Gross National Product of a country or its GDP. There are two types of economic growth, long run and short run economic growth. Short run economic growth is caused by an increase in the aggregate demand of an economy, otherwise referred to as AD. AD is made up of four factors, consumption, investment, government spending and the net worth of imports and exports. An increase in any of these factors can lead to an increase in real GDP. Long run economic growth is caused by an increase in the quality or quantity of the factors of production of the economy. These FOP's are land, labour, capital and enterprise. An increase in any of these factors will cause an increase in the potential output of an economy meaning it has the potential to produce more.
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).
Public policy making factors include political ideologies, public opinion, expert advice, economic constraints, institutional arrangements, and societal values. These factors influence the decision-making process and shape the policies that are developed and implemented by governments.
Social, Economic, Geographic
what is economic growth and development? Economic development is the institutional change made to promote economic betterment. It is the process of lmproving the quality of human life through increasing per caita income.
There are many outcomes that can meet economic growth goals. Some factors that could help meet economic goal growth would include more education, jobs, manufacturing, and industries.
people
All of these
Things that can affect economic growth include: interest rates, the political environment, weather and a host of other things. The Federal Reserve sets monetary policies to help combat these factors.
Economic growth is measured by an increase in the real Gross National Product of a country or its GDP. There are two types of economic growth, long run and short run economic growth. Short run economic growth is caused by an increase in the aggregate demand of an economy, otherwise referred to as AD. AD is made up of four factors, consumption, investment, government spending and the net worth of imports and exports. An increase in any of these factors can lead to an increase in real GDP. Long run economic growth is caused by an increase in the quality or quantity of the factors of production of the economy. These FOP's are land, labour, capital and enterprise. An increase in any of these factors will cause an increase in the potential output of an economy meaning it has the potential to produce more.
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).
There are only three factors that constitute and contribute to economic growth: Labor, Capital, Technology.
It depends on the land and the resources also the population
Geographic factors such as the Gulf of Guinea and Lagos Lagoon have lead to urban growth. Lagos Lagoon makes a perfect harbor for trade and cultural interaction which leads to industrialization. Industrailization leads to urban development and economic growth. APEX