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Wednesday, July 24, 2013

PPT On Economic Growth

Economic Growth Presentation

Economic Growth Presentation Transcript:
1.Introduction to development
Economic growth
Economic development

2.Economic growth-Meaning
Economic growth is the increase in the amount of the goods and services produced by an economy over time
measured as the percent rate of increase in real gross domestic product, or real GDP
Growth is usually calculated in real terms
" typically refers to growth of potential output

3.Economic development
generally refers to the sustained, concerted actions of policymakers and communities that promote the standard of living and economic health of a specific area
can also be referred to as the quantitative and qualitative changes in the economy
“economic growth is one aspect of the process of economic development.”

4.Sources of economic growth
Increasing standard of living
Increasing quality of life
Economic development

5.Factors contributing to growth and development-
Natural factors
Human factors
Physical capital and technological factors
Institutional factors

6.Barriers to economic growth/development
Poverty cycle
Institutional and political factors
International financial barriers
Social and cultural factors

7.GDP(Gross domestic product)
Gross Domestic Product (GDP) is the value of final goods and services produced within a country in a given period. It is the total of all activities in a country, regardless of who owns the productive asset.
The raw GDP figures are called the Nominal or Current GDP
The GDP adjusted for changes in money-value in this way is called the Real GDP.

8.GNP(Gross national product)
Gross National Product (GNP/GNI) is the market value of all products and services produced in one year by labour and property supplied by the residents of a country.
 It is the total income that is earned by a country's factors of production regardless of where the assets are located

9.What is std of living?
the standard of living is a measure of the material welfare of the inhabitants of a country
The baseline measure -real national output per head of population or real GDP per capita.
Other things being equal, a sustained increase in real GDP increases a nation’s standard of living providing that output rises faster than the total population

10. Problems in using national income statistics to measure living standards-
GDP and living standards – problems of interpretation
GDP and living standards - problems of accuracy
Regional Variations in income and spending
Inequalities of income and wealth
Leisure and working hours
Imbalances between consumption and investment
Changes in life expectancy
The value of non-marketed output including work done in the home
Innovation and the development of new products
Environmental considerations
Defensive expenditures

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