In what role do you think does savings and investments play in the economy? Explain your answer.In what way does saving and investment affect economic growth and development? Give an example and justify your answer.

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Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter19: Economic Growth In Developing Nations

Section: Chapter Questions

Problem 24AA

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In what role do you think does savings and investments play in the economy? Explain your answer.
In what way does saving and investment affect economic growth and development? Give an example and justify your answer.

Definition Definition Increase in the amount of goods and services produced by a country in a given period of time compared to an earlier period. Economic growth is generally coupled with a rise in national income or the purchasing power of individuals. It is often measured in terms of the increase in a country's gross domestic product (GDP), or the overall monetary value of all the complete or final services and goods that a country can produce within its domestic boundaries in a specific period.

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