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Economic growth is an in
crease in the total output of
the economy. It occurs wh
en a society acquires new r
esources or when it learns
to produce more by using e
xisting resources.
BENEFITS OF ECONOMIC GROWTH
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FACTORS OF ECONOMIC GROWTH
Human capital refers to investments in the wel
fare and training of workers.
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FACTORS OF ECONOMIC GROWTH
Capital goods are goods used to produce th
ings. The ability to invest in capital goods infl
uences a country’s economic growth.
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FACTORS OF ECONOMIC GROWTH
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FACTORS OF ECONOMIC GROWTH