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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.
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What type of economic system does the UK have?
maket system
What country has the most economic in Europe?
Germany.
Analyse the impacts of global factors on UK business organisations?
Global factors that can affect United Kingdom businesses can be broken down under political, economic, social and technological factors. In particular, businesses need to access their access to international markets, the costs of trading in different regions, and the ability to acquire and merge with multi-national corporations.
What are the economic systems of the UK Germany and Russia?
they are all market with elements of command
What field of UK economy observes the growth of employment in recent years?
finance
How does Chinese economy growth impact UK?
The economic growth of China impacts the UK in various different ways. Positive factors would include the cheap labour that UK businesses can exploit to achieve a minimal amount of costs on production, and a mass of products made, due to China's massive population. Negative factors could be that UK workers lose out on jobs because businesses are not interested in producing in the UK, and that our country loses revenue that could be put into our country if everything was produced and sold in the UK.
Evaluate the view that growth in credit is likely to have an adverse effect on the uk's economic performance?
Difficult one...
If most of the factors that have led to the economic downturn in the UK are the same as those in the US why has the pound fallen so steeply against the dollar?
i dont get this
What is the UK population and growth rate?
the UK's population is 62,698,362 million and the growth rate is 0.557%
How many people in the UK earn over 100000?
How money people in the UK earn over 100000? for my idea,everything depending on the real situation of some country in the world such as at UK. About the economic of UK is growth, politic of UK is good................so all points is take good opportunity to all people in UK can get money by their occupation.
How is political issues affecting tourism in the UK?
bECAUSE NODJWF ONE WANTS THE POLITITICS
What is the UK population growth rate?
0.6%
How has the removal of hedgerows affected biodiversity?
They are important for biodiversity farming landscape and culture current factors affecting the habitat since 1945 there has been drstic loss of hedgegrows through removal and neglect throughout the UK especially in the eastern counties
What type of economic system does the UK have?
maket system
Government department of economic policy in UK?
The Department for Business, Innovation and Skills deals with economic policy.
If the UK is part of the EU why don't they use the Euro?
The UK has opted out of the Euro for political and economic reasons.
Why does the United Kingdom still use pound instead of Euro?
The UK does not use the Euro because of a number of economic factors. In order for a stable transition is it important that the economy of a member state and the eurozone are in sync and this was not the case when the UK last looked at joining. The UK is not under obligation to adopt the euro and currently has no plans to look into the issue again.
