Discuss the determinants of growth and development
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There are four major determinants of economic growth: human resources, natural resources, capital formation and technology, but the importance that researchers had given each determinant was always different.
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The following are various factors which determine economic growth and development
(i) Supply of Natural Resources;
(ii) Capital form action which depends upon the rate of domestic saving and investment and inflow of foreign capital;
(iii) Growth of population;
(iv) Technological Progress; and We examine below each of these factors in turn.
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