Explain 3 elements of economic development
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Explanation:Discuss the components of economic growth, including physical capital, human capital, and technology
Explain capital deepening and its significance
Analyze the methods employed in economic growth accounting studies
Identify factors that contribute to a healthy climate for economic growth
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Answer:
PROCESS, REAL NATIONAL INCOME AND LONG PERIOD
Explanation:
PROCESS:-
It refers to the operation that brings changes in the supply of factor of production and structure of demand of products.
REAL NATIONAL INCOME:-
It refers to the purchasing power of the people.
LONG PERIOD:
The increase in real national income should be sustained over a long we period, say 10 years or more.
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