Economic Geography
Economic growth refers to the increase in the production of goods and services in an economy over a specific period, often measured as the percentage increase in real gross domestic product (GDP). This concept is crucial for understanding how economies develop and evolve, as it reflects improvements in productivity, technological advancements, and the efficient use of resources. Economic growth can also indicate rising living standards and enhanced quality of life for a population, making it a key goal for policymakers.
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