Very Short Answer Questions · Q5
Q.Mention any two determinants of economic growth.
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Start your 14-day free trial to unlock the full solution →Economic growth depends on a range of economic determinants. Two commonly cited ones are:
- Capital formation — the rate at which an economy saves and invests determines how fast it can build up machinery, infrastructure, and productive capacity; higher capital formation supports faster growth.
- Technological progress — improved techniques of production allow more output to be obtained from the same quantity of resources, and open up entirely new goods and industries. …
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