How fast can the economy of a country grow?

[ahmedo24]

The economy is the lifewire of every nations because it measures of the country's currency, the flow of money and other activities of the country. In your opinion is it small or big businesses that make the economy of a country grow faster.

 

[Abonyo Dickens]

The speed at which the economy of a country grows will definitely depend on the factors of production and by increasing the quality and quantity eg. land, capital, labour and entrepreneurship. I understand that factors of production are the resources used in creating goods and services in an economy. Besides, the two main sources of economic growth are growth in the size of workforce and growth in the productivity. Both can increase the overall size of the economy.

 

[Niftyyem]

Both small and large businesses contribute to the growth of the economy. The small businesses have a tendency to reach the people in the suburbs and rural areas more, so we cannot take them for granted.

 

[ahmedo24]

Both small and large businesses contribute to the growth of the economy. The small businesses have a tendency to reach the people in the suburbs and rural areas more, so we cannot take them for granted.

Did you know that if small businesses are granted loans or funds they can easily stimulate the economy of their Local environment and gradually developed too.

 

[Braga13]

That depends on it's economic policiy and the amount of corruption on it .

 

[Arwhank]

The economic development of a country is influenced by various factors, including: Natural wealth Number and quality of population Capital resources owned Mastery of technology Socio-cultural conditions of the community Political conditions

 

[Khafid99]

how fast the economic growth in a country depends on the father, namely the president when the president has the initiative to accelerate a very large economic development by various ways from selling imports to exports or by other means

 

[ahmedo24]

how fast the economic growth in a country depends on the father, namely the president when the president has the initiative to accelerate a very large economic development by various ways from selling imports to exports or by other means

In order way providing enabling environment through policy formulation's that will make businesses to thrive easily which could stir the Economy growth and development.

 

[saoussen57651]

People must be hardworker and economy of a country will increase not spending the hole day away of work at coffee or restaurant and don't want to work just getting pocket money from family.

 

[Peterlight]

The government has abig role to play when it comes to the economy growth of the nation. If they can provide employment and good social amenities. This will help the economy to grow

 

[ahmedo24]

The citizens also has a serious role to play because I have seen situations where grants are been given to people to start business but In the long run they neither do the business nor use the money for something better.

 

[Trexxxy]

Economic growth depends on a lot of factors. Domestic Productivity, minimal importation, high exportation activities and a lot of other factors

 

[ahmedo24]

Economic growth depends on a lot of factors. Domestic Productivity, minimal importation, high exportation activities and a lot of other factors

The issue of importations is very key to growing of economy , any country that has low imports grows faster, it one of the secret of China , there importation is damn low.

 

[Kamon c4]

Economic growth of a country depends on a lot of things. Importation, exportation and international allies are part of the determinants. There’s always no precisive time about when the economy of a place will the top notch cause a lot of things can alter the growth

 

[ahmedo24]

Economic growth of a country depends on a lot of things. Importation, exportation and international allies are part of the determinants. There’s always no precisive time about when the economy of a place will the top notch cause a lot of things can alter the growth

There could be precise time or forecast if economics tools are out to work like working heavily on reduction of importation launching of micro and medium enterprises and the likes

 

[giddy]

If the economy grows faster than it has capacity to, prices will rise quickly and things become more expensive. This happens when people want to buy more than shops and factories can supply.

Economic growth is measured in terms of gross domestic product (GDP). You can calculate GDP by adding up what everyone has spent: households, the government, businesses and so on.

As such, GDP represents the total demand for goods and services in the state. When the economy is growing, this means people are spending more. But retailers and factories can only supply so much at any given time.

 

[Tariq Shehzad]

The economy is the lifewire of every nations because it measures of the country's currency, the flow of money and other activities of the country. In your opinion is it small or big businesses that make the economy of a country grow faster.

The economy of a country can grow by doing business and trading. There should be industrial development, so that unemployment can be vanished. Agricultural system should be strong and well equipped.

 

[Ibrahim1]

As for me either small or big or bigger business can't move the country economic if they don't have good leadership, good leadership really matters so much. When they have good leadership the country economic will also grow even if it's small and for example Ghana has nothing than Nigeria but look at there economic today, far better than Nigeria, same thing to Togo and cotonu so before economic can grow we need good leadership who won't care about him and his family alone

 

[chicnthin]

Both small and big business helps in the country's economy. It pays taxes, employs a workforce, exporting products (especially the big companies), and many other factors.

However, while business plays a vital role in the economy, for me, I think the country's economic growth is depending on its leaders and its citizens. And by leader, I don't only mean the President but everyone who is in position. Citizens also play a role here, by abiding the law.

 

[MastetG]

I think basically it all depends on some factors of which production is number one
The speed at which the economy of a country grows will definitely depend on the factors of production and by increasing the quality and quantity eg. land, capital, labour and entrepreneurship. I understand that factors of production are the resources used in creating goods and services in an economy.