Question

explain the concept of economic progress​

Answer 1

Explanation:

economic progress measures the increase in the output of given resources, or. the decrease in inputs for a given product" ("Economic Problems in Measuring. Productivity Change," in Conference on Research in Income and Wealth, p. 50).

Answer 2

Answer:

One can define economic growth as the increase in the inflation-adjusted market value of the goods and services produced by an economy over time. Statisticians conventionally measure such growth as the percent rate of increase in real gross domestic product, or real GDP.

Explanation:

Theory: Joseph