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An increase in the capacity of an economy to produce goods and services are compared from one period of time to another. For comparing one country's economic growth to another, GNP or GDP per capita should be used as these take into account population differences between countries. Increase in a country's productive capacity, is measured by comparing gross national product in a year with the GNP in the previous year. Increase in the capital stock, advances in improvement in the quality and technology, are level of literacy are considered to be the principal causes of economic growth. In current year, the idea of sustainable development has brought in additional factors such as environmentally sound processes that must be taken into account in growing an economy. Economic growth means an increase in Real GDP. An increase in aggregate demand and increase in aggregate supply. Economic growth means there is an increase in national output and national income.
OMICS Group International is a pioneer and leading scientific event organizer, publishing around 400 Open access journals and conducting over 300 Scientific Meetings all over the globe annually with the support of more than 1000 scientific associations, 30,000 editorial board members, and 3.5 million followers to its credit. Raising its curtains in the year 2007, OMICS Group International aims to disseminate knowledge with the help of its Open access Journals and marches on to instigate OMICS Group International Conferences in the year 2010, to provide a meaningful platform for the world renowned scientists, researchers, students, academicians, institutions, entrepreneurs and industries through its scientific events annually throughout the globe.
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This page was last updated on 20th Nov, 2014
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