What economic growth measures
What economic growth measures
Economic growth is an increase in the quantity of goods and services produced by an economy over time. It is usually measured by the percentage change in real GDP.
Step-by-step lessons on OCR GCSE Economics 3.1.3 Explain how growth is measured. Each one builds up to exam-style questions. Build a solid grasp of supply and demand and cost/revenue calculations before tackling the evaluation-heavy policy topics.