Economic Growth PPT Mr经济增长的PPT先生. Youngs Stuff.pptVIP

ECONOMIC GROWTH Economic growth is an increase in the total output of the economy. It occurs when a society acquires new resources or when it learns to produce more by using existing resources. BENEFITS OF ECONOMIC GROWTH Economic growth raises a country’s overall standard of living. This provides people with goods and time for enjoyable leisure activities. BENEFITS OF ECONOMIC GROWTH Economic growth enlarges the tax base, or the income and properties that may be taxed. A larger tax base lets government supply more public services and/or lower taxes. BENEFITS OF ECONOMIC GROWTH Economic growth creates jobs and economic security for more people. BENEFITS OF ECONOMIC GROWTH Economic growth can benefit the economies of other countries through increased trade. A successful growing economy can be a role model for developing nations. *  FACTORS OF ECONOMIC GROWTH Economic growth depends on the nature of the factors of production and how well they are used. Factors of Economic Growth include: natural resources human capital capital goods entrepreneurship *  FACTORS OF ECONOMIC GROWTH Natural resources are the raw materials a country has that make life and production of goods possible. Natural resources affect economic development. Nations rich in natural resources will use them to produce revenue.  *  FACTORS OF ECONOMIC GROWTH How valued a nation’s natural resources are determines how much revenue they produce and how much foreign investment they attract. *  FACTORS OF ECONOMIC GROWTH Human capital refers to investments in the welfare and training of workers. An increase in human capital enables an economy to produce more of everything that uses human capital. Providing health care, family benefits, and more training and education are all investments in human capital. *  FACTORS OF ECONOMIC GROWTH An increase in human capital enables an economy to produce more of everything that uses human capital. The mor