Economic growth is the process of the increase of the production of goods and services in the economics a country during a certain period of time. Economic growth depends on the great number of factors: the political situation of the country, education, population, innovations, technologies, etc. Generally, economic grows is associated with the increase of production and consumption of the goods and services and the ability of people to pay for it. Economic growth can be achieved only due to the hard work and the correct management of economics. Businessmen should not be controlled by the government but should possess certain freedom and chance for development. Healthy business competition should be permitted in the country in order to enable the smart businessmen develop their firms and enrich the economics of the country with the taxes on their profit.
Last Updated: March 19, References Approved. This article was co-authored by Matthew Snipp, PhD. Matthew Snipp is the Burnet C. He has been a Research Fellow at the U. He has published 3 books and over 70 articles and book chapters on demography, economic development, poverty and unemployment. He holds a Ph.
Econometrics is a relatively new field of study. It is when statistical means, computer science, math, and economic data are used to come up with empirical solutions or content. The word empirical means theories that are based on experience and personal observation rather than standard theories or simply logical means. So any field where data is gathered and then explored might have the potential for an innovative and interesting topic for an essay.
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