Drivers of economic growth include

Question

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Economic growth is driven by various factors, including specialization, consumption, and international trade. Specialization leads to higher efficiency and productivity, which in turn promotes economic growth. Consumption drives demand, which creates opportunities for businesses to produce more goods and services, leading to higher economic growth. International trade allows economies to benefit from comparative advantage and exploit economies of scale, leading to higher productivity and economic growth. Therefore, all three factors – specialization, consumption, and international trade – are crucial drivers of economic growth.

Drivers of Economic Growth Include