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Economic Growth

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Why is economic growth important? Why could the difference between a 2.5 percent and a 3 percent annual growth rate be of great significance over several decades?

Please give a few good sentences to explain.

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Economic Growth is discussed very comprehensively in this explanation..

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Why is economic growth important?
Economic growth is important because it is connected to the growth in the size and the worth of the economy. Economic growth indicates a more efficient use of the factors of production. In a way it also means there is a use of improved technology in ...

Solution provided by:
Hatim Baxamusa, MBA
Education
  • BSc , University of Calcutta
  • MBA, Eastern Institute for Integrated Learning in Management
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