Define economic growth and explain what it means in terms, Business Economics

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Define economic growth and explain what it means in terms

1. Define economic growth, and explain what it means in terms of standards of living.

2. How would an increase in capital goods, holding the size of the labor force constant, help to make workers more productive and increase economic growth?

3. Explain how a technological advance can contribute to economic growth.

4. Why do institutions such as private property rights promote economic growth?

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Business Economics: Define economic growth and explain what it means in terms

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Business Economics: Define economic growth and explain what it means in terms

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