Producing more output
Producing more output
Economic growth is an increase in a country's real output over a period of time, usually measured over one year. Real output is the quantity of goods and services produced after removing the effect of changes in prices.
Step-by-step lessons on OCR GCSE Economics 3.1.1 What is economic growth. 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.