Supply factors in economic growth
Briefly explain the four supply factors in economic growth?
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Economic growth refers to a rise in the amount of goods and services produced in a nation. It is typically measured by the GDP. The main 4 factors that determine GDP include human resources (labour), natural resources (like land, minerals, climate, water), supply of capital goods( these refer to the tools, machines used by labour to work and improve productivity) and lastly the technology. We can have higher degrees of each and have greater classification among these factors, but no production is possible without them even when we consider a single person Robinson Crusoe type economy humans need to work as labour to gather food. He needs stones/ tools to pluck fruits from trees. The technology involved is the angle at which the stone must be thrown to ensure that the fruit drops on the ground. So we can see that these 4 factors are essential in any economy.
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Question: Some commentators have argued that the failure of the "Supercommittee" is good thing for the economy? Do you argree? Answer: Q : International trade the most frequently the most frequently asked question on foreign direct invetment
the most frequently asked question on foreign direct invetment
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A prosperous person who made higher and higher incomes yearly would possibly benefit most from: (w) proportional tax system. (x) progressive tax system, much like the one in place today. (y) regressive tax system. (z) fixed percentage tax system. Discover Q & A Leading Solution Library Avail More Than 1440800 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1950358 Asked 3,689 Active Tutors 1440800 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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