INTRODUCTION TO ECONOMICS II (İKTİSADA GİRİŞ II) - (İNGİLİZCE) Dersi Basic Concepts and National Income Accounting soru detayı:

PAYLAŞ:

SORU:

Please define the concept of economic growth.


CEVAP:

The rise in the capacity of economy to produce goods and services is called as economic growth. On the other hand, economic growth can be defined as expansion of
production possibilities of a country. In this case, economic growth can be considered as outward shift of the country’s production possibilities frontier.