Answer to Question #98337 in Macroeconomics for annie

Question

What are the factors, that might make economic growth and with it the employment creation within a country easier?

Answer 1

Factors That make economic growth

We need to write the Factors that makes economic growth

Answer:

The factors makes that makes economic growth are

(1). Natural Resources:

Find the Natural Resources like Oil, Minerals can boost the economic growth. Some Resources are Water, Land, forest

and Natural gas.

Example: The Economy of the country Saudi is Depends on Oil resources.

(2). Physical Capital or Infrastructure

Physical Capital can increase the economy, such as factories, machinery, and roads.

(3). Population or Labor

Increment in Population will produce the availability of workers (or) employees. If we have higher workforce, our economy

growth is very good.

(4). Human Capital

An increment in investment in human capital can improve the quality of the labor force.

(5). Technology:

The technology will increase productivity with the same levels of labor. This increment means factories can be more

productive at lower costs.

(6). Law

$(1). Natural \space Resources \$

If a company or Industry is follows the rules or Laws perfectly , That will be the growth in economy.

Employment creation:

 

Physical Capital can increase the economy, means increase the employment.

Natural Resources like Oil, Minerals can boost the economic growth, to bring them out we need the labour, means there is an Employment.