Economic Growth Is A Positive Circumstance For Any Nation

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Economic Growth is a positive circumstance for any nation. Economic Growth is measured by the Gross Domestic Product (GDP). According to the Organisation for Economic Co-operation and Development (OECD) the GDP is "an aggregate measure of production equal to the sum of the gross values added of all resident institutional units engaged in production (plus any taxes, and minus any subsidies, on products not included in the value of their outputs)." The economic growth is an increase in the amount of goods or services an economy can produce measured over a period of time. Many factors are at the origin of the economic growth of a country. Economic Growth is caused by improvements in the quantity and in the quality of the factors of production such as human capital (labour) and capital stock. Indeed, it permit to enhance the productivity of an economy and thus its creation of wealth. The capital formation is one of the core factors which impact the economic growth. The capital formation refers to the addition of capital stock such as machines, buildings and so on… Generally the higher the capital formation of a country, the faster an economy can grow. Indeed, by increasing or by improving its stock of capital, a country can produce more and consequently rise its production capacity. The Human Resources which can be called as human capital, are viewed as the main and maybe one of the most important economic assets. An increase in the supply of labour (which can be
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