what are four sources of economic growth?

what are four sources of economic growth? Topic: what are four sources of economic growth?
June 27, 2019 / By Anstace
Question: I have economics homework and I can't find the answer to this question in my book, it's driving me crazy..
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Best Answers: what are four sources of economic growth?

Zaccai Zaccai | 5 days ago
1. Population growth 2. Advances in technology and procedure leading to greater levels of productivity per unit of labour 3. Greater participation in the labour market by retirees and social parasites (welfare recipients) 4. Capital
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Zaccai Originally Answered: What are the consequences of sustained economic growth for China?
By asking consequences, I suppose you mean negative side effects? 1. Income gap between the rich and poor leads to social problems. Before the Open Up policy, Chinese enjoyed prettey much the same income no matter what's their world. There were very few robbery, crimes and corruption. With the economic reform and the sustained growth that followed, Chinese started to earn differently. And this increasing gap has started to affect social stability and Chinese moral like in every other country in the world. People no longer competed for the jobs that help the nation the most, instead started to prefer the jobs that pay the most. Corrupt officials start to fill their pockets with shares of the national growth. Poor and undereducated people start to commit crimes for money. 2. Resource shortage and pollution. To support a fast-growing economy, especially one the size of the Chinese economy, huge resource supply must be met. As a result, Chinese ecosystem suffered from the increasing exploitation of resources and Chinese economy becomes much more dependent on foreign countries for the flow of imported resource. Western powers had their industrial revolution backed by resources from the colonies, but Chinese economy, without a strong military to protect its interest abroad while at the same time living in a world which now strongly rejects any invasions, is very fragile. Resource safty is likely to cause disputes and tensions between China and other countries. Other that the 2 above, the sustained economic growth of China is viewed as a great success which lifted 1/5 of all the people on Earth out of extreme poverty and is regarded as one of the biggest miracles in modern economy.
Zaccai Originally Answered: What are the consequences of sustained economic growth for China?
i do no longer think of that china financial improve is a huge gamble. China financial count in particular on American companies so each and every time the financial gadget of united statesrise the only of China additionally upward thrust , and vice versa.

Sherlock Sherlock
Economic growth is the change in the level of GDP (Gross Domestic Product) from one period to the next. And the four factors that make up the GDP are: GDP = C + I + G + (X-M) C = Consumption, I = Investment, G = Government spending & (X-M) = Exports - Imports, i.e the Net Exports. An increase in any of these four factors will lead to economic growth.
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Norwood Norwood
Economic growth is caused by two main factors: 1.an increase in aggregate demand 2.an increase in aggregate supply (productive capacity)
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Norwood Originally Answered: How might the following government interventions affect a nation's economic growth:Mandatory school attendanc?
Copyright and Patent protection both give a person property rights over their 'creations' (novels, inventions, etc.). On the macro level this promotes invention/creation and should increase technological progress (although some studies show that patent laws might actually hinder technological progress in special cases). Political corruption increases rent seeking causes the break-down of institutions and the rule of law. As such, corruption slows growth by making a political economy extremely inefficient because it diverts resources from productive activities. High income taxes decrease the incentive to work, as workers find the benefit of making additional income depleted because of high taxes. As such, workers take longer vacations and output falls. In the long run, mandatory school attendance should increase growth as an educated population is more likely to make productive decisions on the macro level, and participate actively in government and civil society. As such, mandatory school attendance leads to a more stable political economy and a workforce more able to adapt to and/or advance technological change. However, in the short run, families that need the additional income from child workers to get by may find themselves worse off.
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