Purchase Solution

Ingredients of Growth

Not what you're looking for?

Ask Custom Question

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

Purchase this Solution

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.

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 ...

Purchase this Solution


Free BrainMass Quizzes
Elementary Microeconomics

This quiz reviews the basic concept of supply and demand analysis.

Basics of Economics

Quiz will help you to review some basics of microeconomics and macroeconomics which are often not understood.

Pricing Strategies

Discussion about various pricing techniques of profit-seeking firms.

Economics, Basic Concepts, Demand-Supply-Equilibrium

The quiz tests the basic concepts of demand, supply, and equilibrium in a free market.

Economic Issues and Concepts

This quiz provides a review of the basic microeconomic concepts. Students can test their understanding of major economic issues.