Get premium membership and access questions with answers, video lessons as well as revision papers.

Differentiate between actual economic growth and potential economic growth

      

Differentiate between actual economic growth and potential economic growth.

  

Answers


John
Actual economic growth refers to annual percentage increase in national output which fluctuates in accordance with the phases of trade cycle while potential economic growth is the rate at which the economy would grow if all the resources such as human beings and equipment are fully utilized.
Jonmhumble answered the question on October 23, 2017 at 20:54


Next: State and explain the micro environmental factors of a business
Previous: Differentiate between economic growth and economic development

View More Economics Questions and Answers | Return to Questions Index


Learn High School English on YouTube

Related Questions