How fast can the economy of a country grow?

[Janita]

Broadly speaking, an economy is an interrelated system of human labor, exchange, and consumption. An economy forms naturally from aggregated human action – a spontaneous order, much like language. Individuals trade with each other to improve their standards of living. Improved standards of living are made possible when labor is more productive. Productivity is driven by specialization, technological innovation, and working capital. The only sustainable way for an economy to grow is through increased productivity.

 

[Kennysplash]

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.

Both the small and big business contribute to the economic growth of the country. There is no need for segregation of business. They both offer employment opportunities, revenue and the likes. So they are both important.

 

[ahmedo24]

Both the small and big business contribute to the economic growth of the country. There is no need for segregation of business. They both offer employment opportunities, revenue and the likes. So they are both important.

Definitely they both contribute to the growth of the economy of a country but the subject of discussion is which between the two contribute or stimulate the economy faster possibly with respect to your location.

 

[Nurudeen]

The best way to grow the economy of a country is to be less dependent on import goods. If a country has a sustainable manufacturing economy, the economy will grow in no time and most importantly this will create more jobs for the youth. But In case where by a country is overly dependent on import goods,it means they are transferring the wealth of there county to another country.

 

[Afrinish]

The economy market 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.

 

[BrolySSJ]

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.

I think that both of them are equally important. Small businesses grow the economy and are able to provide work for those that are within the area. Whereas the bug businesses are also able to do the same as well but what is more than that they are also able to encourage inter country relationships as well if the business had to diversify in its investors or if they had to open other branches in the other countries and this will eventually lead to economic growth too.

 

[Damscooguns73]

Concerning how fast can the economy of a country grow. Well, there are lot of factors to determine that like production, importation and exportation, entrepreneurship and organization, level of corruption in the country, financial opportunities and level of employment. Etc

 

[Nicklas22]

Nominal GDP has risen from USD 2 billion in 2000 to USD 9 billion in 2018, and our panelists see real growth averaging 7.7% out to 2024—the fastest reading of all the 131 economies covered by FocusEconomics.

 

[Kelly5]

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 depending on how serious and sincere the government in power is. If they are full of corrupt officials and representatives of the people, then nothing can improve such an economy.

 

[Khezo]

The rate at which an economy grows depends on the rate of production. Businesses play a major role in determining the growth of a country.
But everything would have to be monitored because a country should not grow fast than its capacity to it makes everything expensive

 

[MarieArie]

Growth has varied over time. On average, the economy has grown by 2.6% per year since 1949. The fastest the economy has grown since 1949 was at an annual rate of 6.5% in 1973. By contrast, following the financial crisis, growth plummeted to -4.3%.

 

[Lyrrex]

The economy of a country can grow as much as it will grow but sometimes it does not depends on the country itself it depends on how the country is serious to bring in investors and to create companies ,export goods and services,the economic growth of a nation depends on his industrial factors like availability of raw materials for export and so on.

 

[Abibatabosede]

The economical of a country can be affected by the rate of production of the nation and also government policies they must also focus on sectors like science and technology,infrastructural sector and human resources. Mostly it depends on the leadership of the nation.

 

[ahmedo24]

The economical of a country can be affected by the rate of production of the nation and also government policies they must also focus on sectors like science and technology,infrastructural sector and human resources. Mostly it depends on the leadership of the nation.

These are wonderful suggestions, if the export earnings supercede the import earnings it will be far better for a country then providing an enabling environment for businesses to thrive

 

[Ltherman]

In my own little knowledge within the factors of production which is hugged on how well the government is able to translate its policies into real market actions that will influence how productive an economy can be.

 

[Asad Ali]

Both small business and big business have an important role to play in the growth of any country's economy.It has often been observed that we in rural areas do not pay attention to the farming we do but if proper attention is given these people can boost the economy.Import and export also play an important role. We will export only when our production is high.

 

[Damismiling]

The rate at which the economy of a country grows is dependant on so many factors, of which some have been listed here, However the GDP is a major determinant of any countrys' economy, (Gross domestic product)

 

[Kinglegend01]

The growth and development 9f the economy of a country depends and lies entirely in the hands of its people and its government. The growth of a country depends on the following:
• Aggregate demand which includes the consumer spending, investments levels, government spending,the country's exports and imports.
• Aggregate supply which includes its Productive capacity, its efficiency of economy, labour productivity.

 

[joy101]

I think the country's economic growth is depending on the leaders, the depend on the factors of production and the increasing quality and quantity, if the economy grows faster than these things will become more expensive.

 

[Sariana23]

Broadly speaking, an economy is an interrelated system of human labor, exchange, and consumption. An economy forms naturally from aggregated human action – a spontaneous order, much like language. Individuals trade with each other to improve their standards of living. Improved standards of living are made possible when labor is more productive. Productivity is driven by specialization, technological innovation, and working capital. The only sustainable way for an economy to grow is through increased productivity.

Excellent description on how to improve the economy of a country. If all countries focused on economic recovery, we would live much better. But everything depends on the actions of the rulers and the union or agreements with the people. It is unfortunate, in the case of my country, that we had a stable economy and in just 20 years it has been destroyed by poor government administration.