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Economic growth
Explain what economic growth means.
6
Objectives
60
Flashcards
42
Questions
90 min
Study time
CambridgeIGCSEEconomicsGovernment and the macroeconomy
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6 objective pages available
Economic growth outcomes6 objectives
- Explain what economic growth means.
- Discuss how economic growth is measured, focusing on Real Gross Domestic Product (GDP) and GDP per capita.
- Identify the causes and effects of a recession, including its definition and its impact on the economy's production possibilities curve (PPC).
- Explain the factors that lead to economic growth, including how changes in total demand can enhance resource utilization and GDP, and how growth can shift the PPC rightward due to investment, technology, and production factors.
- Discuss the effects of economic growth, considering the context of various economies and the policies that can be implemented to encourage growth.
- Evaluate the policies aimed at promoting economic growth and their potential effectiveness.
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