Question

List the causes of positive economic growth and explain any two.

Answer 1

Answer:

Economic growth means an increase in real GDP. Economic growth means there is an increase in national output and national income.

Economic growth is caused by two main factors:

An increase in aggregate demand (AD)

An increase in aggregate supply (productive capacity)

Increased capital.

e.g. investment in new factories or investment in infrastructure, such as roads and telephones. Increase in working population, e.g. through immigration, higher birth rate. Increase in labour productivity, through better education and training or improved technology

Explanation:

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Answer 2

Answer:

Increased capital.

e.g. investment in new factories or investment in infrastructure, such as roads and telephones. Increase in working population, e.g. through immigration, higher birth rate. Increase in labour productivity, through better education and training or improved technology.