The Four Major Determinants of Economic Growth Include All of the Following

question 40

Multiple Choice

The four major determinants of economic growth include all of the following EXCEPT

• A)technological improvement.
• B)growth in physical capital.
• C)growth in human capital.
• D)growth in financial capital.
• E)growth in the labour force.

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Definitions:

Nonpaying Customers

Individuals or entities that receive goods or services without providing payment to the provider, often leading to revenue loss.

Nonrival-in-Consumption

A characteristic of a good or service where its consumption by one individual does not reduce its availability for consumption by others.

Common Good

A societal benefit that is shared and beneficial for all (or most) members of a community, such as clean air, public parks, and national defense.

Government Provision

The supply of goods or services provided by the government to its citizens, often funded by taxation.