Question

What Are the Sources of Economic Growth?

Answer 1

Sources of economic growth can be enumerated as follows:

1. Natural factor which includes the quality of raw materials and land
2. Human factor which includes the quality of human resource
3. Physical factor which includes the physical capital such as factories, malls, machineries, offices etc.
4. Institutional factors such as banking system, education, healthcare etc.

Also read:

Difference Between Economic Growth and Economic Development

Meaning and Impact of Human Capital on Economic Growth

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