Economic growth

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  • economic growth
definition
  • An increase over successive periods in the productivity and wealth of a household, country or region, as measured by one of several possible variables, such as the gross domestic product.
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Abstract from DBPedia
    Economic growth can be defined as the increase or improvement in the inflation-adjusted market value of the goods and services produced by an economy over a certain period of time. Statisticians conventionally measure such growth as the percent rate of increase in the real gross domestic product, or real GDP. Growth is usually calculated in real terms – i.e., inflation-adjusted terms – to eliminate the distorting effect of inflation on the prices of goods produced. Measurement of economic growth uses national income accounting. Since economic growth is measured as the annual percent change of gross domestic product (GDP), it has all the advantages and drawbacks of that measure. The economic growth-rates of countries are commonly compared using the ratio of the GDP to population (per-capita income). The "rate of economic growth" refers to the geometric annual rate of growth in GDP between the first and the last year over a period of time. This growth rate represents the trend in the average level of GDP over the period, and ignores any fluctuations in the GDP around this trend. Economists refer to economic growth caused by more efficient use of inputs (increased productivity of labor, of physical capital, of energy or of materials) as intensive growth. In contrast, GDP growth caused only by increases in the amount of inputs available for use (increased population, for example, or new territory) counts as extensive growth. Development of new goods and services also generates economic growth. As it so happens, in the U.S. about 60% of consumer spending in 2013 went on goods and services that did not exist in 1869.

    経済成長(けいざいせいちょう、英語: Economic growth)とは、ある経済の活動規模が増大・拡張していくことである。 経済学における経済成長の議論については「経済成長理論」を、消費を最大化する経済成長については「経済成長の黄金律」を参照

    (Source: http://dbpedia.org/resource/Economic_growth)