Economic Growth Law and Legal Definition
Economic growth means the increase in the capacity of an economy to produce goods and services, compared from one period of time to another. Economic growth can be measured in nominal terms, which include inflation, or in real terms, which are adjusted for inflation. The growth of an economy is not only an increase in productive capacity but also an improvement in the quality of life to the people of that economy. Economic growth is generally associated with technological changes.
Legal Definition list
Related Legal Terms
- Acute Economic Need
- Bureau of Economic Analysis
- Bureau of Economic, Energy, and Business Affairs [EEB] [Department of State]
- Centre of Predominant Economic Interest
- Community and Economic Development Entity (CEDE)
- Consequential Economic Loss
- Constitutional economics
- Council of Economic Advisers [CEA]
- Crop of Economic Significance
- Direct Economic Loss
