Examlex
Please define the following key terms. Show Who? What? Where? When? Why Important?
-factories
Catch-Up Effect
The property whereby countries that start off poor tend to grow more rapidly than countries that start off rich
Economic Growth Rates
The percentage increase in the market value of the goods and services produced by an economy over time, typically measured on an annual basis.
Saving Rate
The proportion of disposable income that is saved rather than spent on consumption of goods and services.
Growth Rate
The growth rate measures the rate of increase in the size or value of something over a specific period, often used in the context of economic growth.
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