Unit 4.6 - Paper 2 Exam Practice Questions
Unit 4.6 - Paper 2 Exam Practice QuestionsAnswers(a) Define the term economic growth. [2]Economic growth refers to an increase in the real level of an economy"s national output [1] or real gross domestic product (real GDP) over time [1], i.e. the long long-term expansion of the productive capacity of the economy [1].(b) Explain two advantages of economic growth. [4]Possible advantages could include an explanation of...