Economic growth
Economic growth occurs when the labor force increases the amount of the goods or services it has.[1] This is through the population working harder or a technological advancement.
Economic Growth Media
The system of economic growth in developed regions
Historic world GDP per capita
Productivity lowered the cost of most items in terms of work time required to purchase. Real food prices fell due to improvements in transportation and trade, mechanized agriculture, fertilizers, scientific farming and the Green Revolution.
Economic growth rates (percent, vertical) v. standardized tests of student achievement in different regions, both adjusted for GDP per capita in 1960
The marginal costs of a growing economy may gradually exceed the marginal benefits, however measured.
The economic system as a subsystem of the environment: natural resources flow through the economy and end up as waste and pollution.
References
- ↑ Roser, Max (2013-11-24). "Economic Growth". Our World in Data.
