-Economic growth refers to the growth of the production in term of actual or potential production capacity.

-Economic growth is usually measured in term of the percentage change in real GDP.

-Potential growth refers to the expansion of the availability of resources for production which is measured in term of rightward shift of the long run supply curve and outwards shift of the production possibility curve (PPC)

-Actual economic growth refers to the actualization of resources into monetized products and services which is commonly measured in term of the percentage change in real GDP.

-Actual economic growth is the percentage annual increase in national output actually produced that is the percentage change in the Gross National Product/Gross Domestic Product over the previous year

-Sustainable growth refers to the expansion of the actual production capacity without incurring excessive rise in cost condition.

-The PPC reflects the resource and production capacity an economy can attain with the given resources and technology.

-Physical Capital

-Labour Resources

-Land and Raw Materials

-Entrepreneurship

-Technological Advancement

-Favourable cultural, social and political environment

-Legal institutions

-Cultural attitudes

-A social structure that allows fluid upward and downward mobility based on performance and merit

-Political stability

Sustainable Growth

-Dimensional and Diversified Development

-Benefits of economic growth is triggered downward and widely distributed

-Minimization of opportunity cost between standard of living and growth rate and between industries

-Higher Standard of Living

-Redistribution of Income is Easier

-Encourages Investment

-Provide a higher degree of employment

-Care More for the Environment

-Current Opportunity Costs of Growth

-May lead to structural unemployment

-May induce inflationary condition

-Inequality in Income Distribution

-Depletion of Non-Renewable Resources

-Increase in Negative Externalities

-Non-Economic Costs, such as stress and anxiety

-The Gini coefficient is a measure of statistical dispersion, commonly used as a measure of inequality of income distribution or inequality of wealth distribution.

-Gross National Happiness (GNH) is an attempt to define quality of life in more holistic and psychological terms than Gross National Product.

-Genuine Progress Indicator (GPI) is a concept in green economics and welfare economics that has been suggested to replace gross domestic product (GDP) as a metric of economic growth.

-Average age people are expected to live to

-Lack of financing

-Lack of capable and efficient government bodies to develop and implement plans to achieve the aims

-Restraint of the economy

-Constraints of the policies

-Inability to control systemic factors

-Economic growth provides government higher tax revenue

-Economic growth will enable the government to introduce more public expenditures to help lower income group and improve infrastructural development and facilities to raise standard of living for lower income group

-Economic growth will generate greater market demand and stimulate inflow of foreign direct investment

-To expand the supply of goods and resources to curb inflationary impact

-Improvement in balance of trade and balance of payment to ensure external stability

-It refers to an economic condition in which a country experiences negative economic growth for at least two consecutive quarters.

-Situation where there is economic growth without the increasing labour to increase production

-This can happen with the improvement of technology and factors of production.

-This refers to a situation where cost of production increases, leading to cost-push inflation. Typically, this condition is attributed by the inability of production capacity to meet rising aggregate demand.

-It refers to a type of loan granted to individuals that do not qualify for conventional lending as they face difficulties maintaining repayment schedule.

-It refers to the movement of capital in or out of a country due to certain factors like market and investor confidence.

-It refers to basic material or substance from which a product can be made.

-It refers to factors of production like machinery and buildings.

-They are already-produced durable goods that can be used in production process of goods and services.

-It refers to direct investment in production in another country, conducted by company. The investment is used to support an existing business operation or start up a new business operation.

-Establishing improved infrastructure, maintaining political and social stability to boost investor confidence and introduce incentives that would benefit foreign investors.

-The inability of production capacity to meet the increasing aggregate demand is possibly due to increasing consumption, investment, government expenditure and net exports. Also, excessive government regulation to boost economic growth may also lead to overheating.

-It refers to the rate or proportion of the population within a country over age fifteen that can read or write, within a period of time, usually a year.

-It refers to death of infants under five years-old within a period of time, usually a year.

-It refers to money held by foreign investors that is liable to switch to another country’s currency within a short notice, so as to obtain highest returns.

-It refers to the amount of good or service that a worker is able to produce in a given period of time.