Question

list out the factors affecting Economic Growth; and

z describe the broad Features of the Underdeveloped countries.​

Answer 1

The term economic growth is associated with economic progress and advancement.

Economic growth can be defined as an increase in the capacity of an economy to produce goods and services within a specific period of time.

In economics, economic growth refers to a long-term expansion in the productive potential of the economy to satisfy the wants of individuals in the society. Sustained economic growth of a country’ has a positive impact on the national income and level of employment, which further results in higher living standards.