Economic growth is a quantitative concept. Give the reason.
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Economic growth refers to an increase in the amount of goods and services produced in a country over a specific period of time.Thus,Economic Growth is termed as a quantitative concept.
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Economic growth is a quantitative concept
* Linear stages of growth model
* Theories and patterns of structural change
* International- dependency revolution
* Neoclassical, free market counter Revelation
Economic growth - Increases in total value of goods and service produced . ( measured by GDP )
Economic growth is a process whereby, an economy's GDP increases over a long period of time. ‐
It means, economic growth implies increased output of goods and services. Also, it is necessary to ensure that the increase in GDP must be steady over a long period of time
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