Cause of economics growth: Countries with lots of ... and natural resources will grow because they are rich in it
Land
1 of 11
Cause of economic growth: Economic growth occurs with an increase in the quantity of workers or an increase in the quantity of ...
Labour
2 of 11
Cause of economic growth: Changes in ... : A low birth rate causes a decrease in the labour force. A higher birth rate causes increased labour force and economic growth
Demographics
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Cause of economic growth: Changes in ... : Employment effects growth. Less people staying in education, an increasing retirement age and more women entering employment, all increase labour force and cause economic growth
Participation Rates
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Cause of economic growth: Increasing the labour force with migrants may not increase economic growth because they aren't trained. To increase economic growth, the more important factor is quality of labour for the long term
Immigrants
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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.
Capital
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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
Technological Progress
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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
Efficiency
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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
Aggregate Demand
9 of 11
... growth is the increase in ... output
Actual
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... growth is the speed at which the economy could grow
Potential
11 of 11
Other cards in this set
Card 2
Front
Cause of economic growth: Economic growth occurs with an increase in the quantity of workers or an increase in the quantity of ...
Back
Labour
Card 3
Front
Cause of economic growth: Changes in ... : A low birth rate causes a decrease in the labour force. A higher birth rate causes increased labour force and economic growth
Back
Card 4
Front
Cause of economic growth: Changes in ... : Employment effects growth. Less people staying in education, an increasing retirement age and more women entering employment, all increase labour force and cause economic growth
Back
Card 5
Front
Cause of economic growth: Increasing the labour force with migrants may not increase economic growth because they aren't trained. To increase economic growth, the more important factor is quality of labour for the long term
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