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    Ingredients of Growth

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    Please help explain the ingredients of growth (supply factor, demand factor, efficiency factor).

    © BrainMass Inc. brainmass.com October 10, 2019, 7:49 am ad1c9bdddf
    https://brainmass.com/economics/economic-growth/ingredients-of-growth-596964

    Solution Preview

    Please help explain the ingredients of growth (supply factor, demand factor, efficiency factor).

    Step 1
    Supply factor:
    According to Kondratieff the supply factor has four ingredients these are connected to the physical ability of the economy to expand. These ingredients are natural resources, human resources, capital goods, and technological improvements. Each of these resources can be increased. For example, human resources can be expanded through education and training. Further technology can help ...

    Solution Summary

    This solution explains ingredients of growth (supply factor, demand factor, efficiency factor). The explanation is discussed in two steps, the first being the four ingredients of the supply factor, which are connected to the physical ability of the economy to expand. The second is the demand factor, which is the fifth ingredient of economic growth. The third discusses the efficiency factor, which is the sixth ingredient of economic growth. The solution is 299 words and the sources used are also included in the solution.

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