Economic growth refers to the rate of increase in the total production of goods and services within an economy. Economic growth increases the productivity capacity of an economy, thereby allowing more wants to be satisfied. A growing economy increases employment opportunities, stimulates business enterprise and innovation. A sustained economic growth is fundamental to any nation wishing to raise its standard of living and provide a greater well being for all. Gross domestic product (GDP) is …
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showed last 75 words of 1139 total
…Howlett M, 1994, Economics, Bernard Publishers, South Australia BIBLIOGRAPHY Dornbush R, and Fisher S, 1994,Macroeconomics, 6th eddition, Mcgrew-Hill Inc, New York Mankiw N Get al, 1998, Principals of Economics, the Dryden Press Mc Targgart D, Finley C and Parkin M,1993, Macroeconomics, Edition Wesley Publisher Ltd Mc Targgart D, Finley C and Parkin M, 1996, Macroeconomics, Edition Wesley Publisher Ltd Miller R L,1998, Ecnomics today, 6th edition, Harper & Row Publishers, New York Howlett M, 1994, Economics, Bernard Publishers, South Australia