Economic Growth Economic growth refers to the rate of increase in the total production of goods and services within an economy. Economic growth increases the productivity capacity of an economy, therefore allowing more wants to be satisfied. A growing economy increases employment opportunities, stimulates business enterprise and innovation. A sustained economic growth is fundamental to any nation wishing to raise its standard of living and provide a greater well being for all. A more technical definition would go into the way that Economic Growth is measured. Which is usually in terms of Gross Domestic Product (GDP) the sum total of the value of a country�s output over the course of a year. Gross domestic product (GDP) is the monetary value of all final goods and services produced over a specific period of time, usually a year. It is the total value of production within the economy. The total value of production is the total value of the final goods or services less the cost of intermediate goods purchased. GDP at market prices (nominal GDP) measures the value of total production......

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