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4.6 Glossary of key terms

Unit 4.6 Glossary of key terms - Economic growthConsumption (C) is the total value of expenditure on goods and services by individuals and households in an economy, per time period. It is the largest component of GDP.Economic growth refers to the increase in the value of a country"s real gross domestic product (GDP) over time.Export earnings (X) refers the monetary value of all exports during a given time period, i.e....

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