Check out, please ⇒ www.HelpWriting.net ⇐. “Economic growth is a process of sustained increase in country’s real income over a long period of time.”. All other trademarks and copyrights are the property of their respective owners. Therefore, to know the increase in real income, national income at constant prices should be taken because this eliminates the effect of change in prices on national income. Economic growth reflects an increase in that country's gross domestic product, or GDP. Get access risk-free for 30 days, Earn Transferable Credit & Get your Degree, What is Economic Growth? Welcome to EconomicsDiscussion.net! - Definition, Theories & Indicators, Introduction to Business: Homework Help Resource, Financial Accounting: Homework Help Resource, CLEP Information Systems: Study Guide & Test Prep, Intro to PowerPoint: Essential Training & Tutorials, Communications 103: Workplace Communications with Computers, Economics 101: Principles of Microeconomics, CLEP Principles of Management: Study Guide & Test Prep, Praxis Marketing Education (5561): Practice & Study Guide, Intangibility in Marketing: Definition & Overview, Learned Behavior in Marketing: Definition, Types & Examples, Marketing Orientation: Definition & Examples, Schedule Variance: Definition, Formula & Calculation, Unique Selling Proposition (USP): Examples & Definition, Quiz & Worksheet - External Marketing for International Business, Quiz & Worksheet - Importance of International Marketing, Quiz & Worksheet - Pros & Cons of Internet and Global Marketing, Quiz & Worksheet - Adjusting the Marketing Mix for International Markets, Quiz & Worksheet - Foreign Market Entry in Marketing, Business Marketing and Marketing Research, Services Marketing, Marketing Channels & Supply Chain Management, Promotion, Advertising and Public Relations, CPA Subtest III - Financial Accounting & Reporting (FAR): Study Guide & Practice, ANCC Family Nurse Practitioner: Study Guide & Practice, AACN Acute Care Clinical Nurse Specialist - Adult Gerontology (ACCNS-AG): Study Guide & Practice, ANCC Gerontological Nursing: Study Guide & Practice, Therapeutic Communication & Culturally Congruent Practice in Nursing, Theories of Human Development, Motivation & Coping, Legal, Ethical & Regulatory Considerations in Nursing, Primary, Secondary & Tertiary Prevention in Healthcare, High School Student's Guide for Minimizing & Managing School Stress During COVID-19, Praxis Tests & COVID-19: Online Testing, Scheduling & Implications, Resources for Supplementing an Online Homeschool Curriculum, Online Homeschooling Guide: How to Keep Your Kids Engaged and On Track, Developing an Engaging Online Homeschool Curriculum, What is COVID Slide? {{courseNav.course.topics.length}} chapters | Following this lesson, you should be able to: To unlock this lesson you must be a Study.com Member. 1. - Definition & Examples, Economic Factors Impacting Economic Development, Human Morality & Ethics According to Adam Smith, Less-Developed Countries & Obstacles to Development, National Income Accounts and The Environment: Definitions & Limitations, What is Purchasing Power?
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