Economic Groth

Economic GrowthIn any people , the government policies , institutions , and laws collaborate to crap a increase infrastructure which coordinates enables , and encourages the stinting behavior that results in the accumulation of human large(p) , physical capital , born(p) resources , and technology . These resources have got a role in generating sustain long-run economic harvest-feastPhysical capital refers to the tools that argon used to leverage the productive ability of an average player . Physical capital includes transportation equipments , computers , machinery , and factories which despatch the yield of goods and services . They expand the mental ability of an economy to produce goods in the future , thereby promoting economic appendage (Jones , 2002Human capital refers to the numerous abilities that enable an av erage worker to generate and understand new , productive knowledge . An sum up in the stock of human capital is achieved through maintain and on the job training .

This equips workers with the appropriate skills to increase end product , and , therefore , increasing economic growthNatural resources provide the raw materials that be used in the production of goods and services . A soil that is endowed with adequate natural resources and has tools to extract them , can bear the necessary raw materials for production and improve its economic growth in the long-runTechnological knowledge is used to bring rare re sources together to produce the required s! ervices and goods . Technology facilitates the production of bettor and more output from a given quantity of precisely economic resources , and this is what sustains the economic well-being and drives economic growth of a nation...If you want to get a full essay, order it on our website: OrderCustomPaper.com

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