What are the three main causes of economic growth?
Types of Economic GrowthBoom and Bust Business Cycles. If economic growth is high-speed and inflationary, then the level of growth will become unsustainable.Export-led. The Japanese and Chinese economy have experienced export-led growth thanks to a high current account surplus.Consumer. …Commodity Exports. …
What are the three broad categories of economic indicators?
The Three Types of Economic IndicatorsLeading indicators. Leading indicators signal future changes. …Lagging Indicators. Lagging indicators usually change after the economy as a whole changes. …Coincident Indicators. Coincident indicators occur at about the same time as the changes they signal. …In a Nutshell. …
What factors do economists consider to be economic resources?
Economists classify four categories of economic resources as the factors of production. They are land, labor, capital and entrepreneurship. Business owners organize each of these factors to start and run their companies with the goal of making a profit and earning a return on their investment.
What are three factors make up an economy?
Understanding The 4 Factors Of ProductionLand. It consists of renewable and non-renewable natural resources, including water, minerals, precious metals, vegetation, oil, natural gas, and other raw materials.Capital. Even though capital refers to money, money cannot act as an input in the production process. …Labor. …Entrepreneurship/Enterprise. …