4B: Macroeconomic Indicators "Measuring what counts" Flashcards
1
Q
Define economic growth
A
The growth of the real value of output in an economy over time. Usually measured as an increase in real GDP.
Economics (IGCSE) > 4B: Macroeconomic Indicators "Measuring what counts" > Flashcards
Define economic growth
The growth of the real value of output in an economy over time. Usually measured as an increase in real GDP.