ECONOMIC RESOURCES AND LONG RUN GROWTH

LABOUR FORCE

• Increase in population = gowth through expanding domestic market
• rise in participation rates among population of working age
• quality of the labour focee: human capital can be conductive to high productivity and real output

ENTREPRENEURSHIP

• Entrepreneurial ability; organises and combines other resources to make profit
•  factors that encourage entrepreneurial talent: well developed capital market, infrastructure and favourable social and political climate
• quality improved by increasing education & gov assistance to business

CAPITAL…