More cards in this set

Card 6

Front

Cause of economic growth: Investments must be made in the economy for it to grow but high investment doesn't always mean there is high growth. The investment made has to be in the right area.

Back

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Card 7

Front

Cause of economic growth: Economic growth happens as a result of cutting average costs of production and it creates new products for the market, causing consumers to spend for more growth

Back

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Card 8

Front

Cause of economic growth: Using resources more efficiently will increase growth competition between firms leading to growth so its promoted by the government. Markets have to succeed,not fail if there is to be growth. Problems lead to negative growth

Back

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Card 9

Front

Cause of economic growth: Increasing exports means competition for foreign firms and if the country becomes export driven, there is more efficiency which increases AS and AD and economic growth

Back

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Card 10

Front

... growth is the increase in ... output

Back

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Card 11

Front

... growth is the speed at which the economy could grow

Back

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