1. What is Meant by Economic Growth?
Following on, human capital is an important factor for increasing economic growth of a country, as the education and training of a population is an important factor in the aggregate production function. ... On the graph below, point A shows that the economy's resources are not being used to the fullest extent possible, meaning that there is underemployment or unemployment of the factors of production.Economic growth would cause the production possibilities curve to move from point A to Point B.  If there are more resources, we are able to produce more and therefore the production ...
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- Approx Pages: 6
- Grade Level: Undergraduate