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1. How can you tell that the economy is growing?
2. Why does economic grow matter?

Sagot :

Mikhailsantiago3idn

Answer:

1. Economic growth is defined as the increase in the market value of the goods and services produced by an economy over time. It is measured as the percentage rate of increase in the real gross domestic product (GDP). To determine economic growth, the GDP is compared to the population, also know as the per capita income.

2.So the citizens of a country with high GDP are likely to have high incomes and high standards of living and if GDP goes up a lot, people are likely to be earning and spending more and businesses are likely to be hiring and investing more. In other words people are likely to be feeling better off.

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