Concept information
Preferred term
economic growth
Definition
- Economic growth is most commonly defined as the rate of increase in the value of a country's output over a period of time. It is often presumed that economic growth is necessary and valuable to a society because it is accompanied by an improved quality of life for that society's citizens. [Source: Encyclopedia of Business Ethics and Society; Economic Growth]
Broader concept
Narrower concepts
Belongs to group
URI
https://concepts.sagepub.com/social-science/concept/economic_growth
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