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Economic Growth (Costs (Current opportunity cost, Environmental costs and…

- - - - Increase in labour force
      - Increase in availability of natural resources
      - increase in capital stock: investment in physical capital economic infrastructure
        
        provided that there is positive net investment
    - - Increase in labor productivity
        
        training/education/improved health of workforce/ improvements in technology
      - Increase in land productivity
        
        Better utilization of existing land area
      - Increase in capital efficiency
        
        Technological advancement
    - - Management techniques
      - existing production processes
      - leads to new capital investment opportunities, greater prod, higher incomes, increase AD, encourage R&D etc.
  - - - other countries have faster growth = can sell more exports
- - - - unplanned fall in stocks
        
        firms increase production and hence output
    - - excess output at current price level
        
        price levels fall
        
        increase in purchasing power
        
        increase in AD
        
        increase in eq. national output
- - - - GDP per cap
      - Labor productivity
      - Employment
      - Healthy life expectancy
    - - Median household income
      - Poverty rate
      - Income GINI
      - Wealth GINI
    - - Adjusted net saving - true rate of saving in an economy
      - Public indebtedness as a share of GDP - roughly illustrates scale of borrowing by current generations
      - Dependency ratio of retirees and youth to the working-age population
      - Carbon intensity of economic output