Define economic growth. economic growth synonyms, economic growth pronunciation, economic growth translation, English dictionary definition of economic growth. A rise in the National Income which implies a rise in living standards. Dictionary of Unfamili
Related to growth: growth hormone, economic growthGrowth The change in a company's or nation's earnings, revenue, GDP or some other measure from one period of time (usually a year) to the next. Growth shows by how much the measure has grown or shrunk in raw dollar amounts, but may ...
The meaning of ECONOMIC is of, relating to, or based on the production, distribution, and consumption of goods and services. How to use economic in a sentence.
economic - of or relating to an economy, the system of production and management of material wealth; "economic growth"; "aspects of social, political, and economical life" economical 2. economic - of or relating to the science of economics; "economic theory" 3. economic - using the minimum...
The output definition in economics refers simply to the number of goods or services produced. Economists measure output in the field of macroeconomic to measure the growth of a country's economy. Macroeconomics is the study of large-scale economics or looking at economies from a bigger picture. ...
standard of living :the necessities, comforts, and luxuries that a person or group is accustomed to More from Merriam-Webster onstandard of living Britannica.com:Encyclopedia article aboutstandard of living Last Updated: 28 Nov 2024 - Updated example sentences ...
However, the way the definition of economics has evolved is more than a historical curiosity. At times, definitions are used to justify what economists are doing. Definitions can also reflect the direction in which their authors want to see the subject move and can even influence practice....
However, these market exchange rates can be volatile, sometimes changing quickly in ways that do not necessarily reflect changes in the growth of economies. For example, in August 2008 the British pound sterling (GBP) was worth about $1.82 (U.S.). Two months later, it was worth about $...
Eventually, the cheap flow of money and subsequent increase in spending will causeinflationto rise, leadingcentral banksto hike interest rates. Suddenly the onus is on encouraging people to rein in on spending and moderating economic growth. Company revenues fall, share prices decline, and the econ...
Development economics examines things like the structure of domestic and international economies in order to improve conditions in developing countries. There are many theories of development economics. While mercantilism, nationalism, linear stages of growth, and structural-change theory are four of the ...