What is economic growth?

Economic growth is an increase in the production of good and services in an economy over time. 

FA
Answered by Funsho A. Economics tutor

2218 Views

See similar Economics A Level tutors

Related Economics A Level answers

All answers ▸

What is the difference between a perfectly competitive market and a monopoly market


If the Marginal Social Cost of Producing a good is higher than the marginal private cost -what has happened?


Buyers in the market for iPhones learn that the price of the Samsung Galaxy has increased. Explain how this would shift demand in the market for iPhones.


If timber prices fall by 30%, what will be the expected % change in demand for timber in the economy if the Price Elasticity of Demand is -0.5, and explain the effect on revenue for a timber-selling firm.


We're here to help

contact us iconContact ustelephone icon+44 (0) 203 773 6020
Facebook logoInstagram logoLinkedIn logo

MyTutor is part of the IXL family of brands:

© 2026 by IXL Learning