Definitions for economic growth

This page provides all possible meanings and translations of the word economic growth

Princeton's WordNet

  1. economic growth(noun)

    steady growth in the productive capacity of the economy (and so a growth of national income)

Wiktionary

  1. economic growth(Noun)

    The growth of the economic output of a country.

Freebase

  1. Economic growth

    Economic growth is the increase in the amount of the goods and services produced by an economy over time. It is conventionally measured as the percent rate of increase in real gross domestic product, or real GDP. Growth is usually calculated in real terms, i.e. inflation-adjusted terms, in order to obviate the distorting effect of inflation on the price of the goods produced. In economics, "economic growth" or "economic growth theory" typically refers to growth of potential output, i.e., production at "full employment". As an area of study, economic growth is generally distinguished from development economics. The former is primarily the study of how countries can advance their economies. The latter is the study of the economic aspects of the development process in low-income countries. See also Economic development. Since economic growth is measured as the annual percent change of gross domestic product, it has all the advantages and drawbacks of that measure.


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