BackLong-Run Economic Growth definitions
You can tap to flip the card.
Control buttons has been changed to "navigation" mode.
1/15BackSkip to main contentBackLong-Run Economic Growth
Sustained increase in average living standards, enabling greater access to healthcare, sanitation, education, and leisure over time. Real GDP
Monetary measure of output adjusted for inflation, revealing true changes in economic production and prosperity. Per Capita
Statistical calculation dividing total values by population, allowing meaningful comparisons across time or regions. Living Standards
Quality of life reflected in access to essential services, improved health, education, and leisure opportunities. Healthcare
Provision of medical services and facilities, increasingly accessible as economies expand and resources grow. Sanitation
Availability of clean water, toilets, and hygiene infrastructure, improving with sustained economic progress. Education
Opportunities for learning and skill development, enhanced by increased government resources from economic growth. Leisure
Activities for relaxation and enjoyment, becoming more attainable as economic prosperity rises. Inflation
General rise in prices, excluded from real GDP calculations to reveal genuine economic expansion. Human Capital
Accumulated skills and knowledge within a population, strengthened by improved education and health. Economic Rent
Extra earnings from resources or assets, often increased as economies grow and markets expand. Externalities
Unintended side effects of economic activity, with positive impacts often emerging from sustained growth. Market Equilibrium
State where supply and demand balance, facilitating efficient allocation of goods and services. Incentives
Motivators influencing economic behavior, crucial for driving growth and improving societal outcomes. Economic Expansion
Broad increase in production and consumption, leading to greater access to goods and improved living conditions.
Back
02:07