Economic Growth Term Paper:
Economic growth is the process of the increase of the production of goods and services in the economics a country during a certain period of time. Economic growth depends on the great number of factors: the political situation of the country, education, population, innovations, technologies, etc. Generally, economic grows is associated with the increase of production and consumption of the goods and services and the ability of people to pay for it. Economic growth can be achieved only due to the hard work and the correct management of economics. Businessmen should not be controlled by the government but should possess certain freedom and chance for development. Healthy business competition should be permitted in the country in order to enable the smart businessmen develop their firms and enrich the economics of the country with the taxes on their profit.
Evidently, without human resources and high level of education economic growth is impossible, because today we live in the world of technologies and information and only deep knowledge can be considered the key to success. Very often economic growth is connected with investment and donations. Investments can come from other countries which expect that the invested money will develop the economics of the country and bring profit to them. Economic growth is the quantitative indicator and is closely connected with the general growth of the quality of life of the country, its health care and affordability of the proper education, security of people and the reduction of the working hours.
Economic growth is the aim of every county which wants to be a prosperous one. Economic growth opens wide opportunities for people, so it is extremely important to work hard to achieve it. A successful economic growth term paper is supposed to explain the topic in detail and describe the factors which influence the process. One should distinguish the key components of economic growth and define its advantages and disadvantages. A student should study the process and the factors which cause it on the basis of the direct examples, so that the countries which achieved the economic growth. One should also emphasize that the process of growth is not a permanent one and that such phenomena like crisis and depression follow every economic growth.
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