Which of the following statements best illustrates economic growth?

Question

Quizplus · Accepted Answer

Economic growth refers to the increase in the production of goods and services in an economy over time. One way to achieve this is through the accumulation of capital, both physical and human. Increased education adds to the stock of human capital in an economy, leading to higher productivity and greater economic growth. The other options are incorrect as an increase in the quantity of labour or minimum wage and a decrease in the productivity of labour would not necessarily lead to economic growth.

Which of the Following Statements Best Illustrates Economic Growth