Answer to Question #72439 in Economics for Cecilia Rincon

Question

The primary factors underlying economic growth are:

-expanding resources and improving technology.

-rising exports and imports.

-falling consumer demand but improving technology.

-expanding resources and rising interest rates.

Answer 1

The right answer should be a).There are two types of Economic growth: extensive and intensive. Extensive growth means a physical expanding of resources , on the other hand, the intensive growth is raising an efficiency of the available resources by, for example, improving technology .

References:
https://tipings.com/en/pages/93813
https://www.encyclopedia.com/history/encyclopedias-almanacs-transcripts-and-maps/economic-growth-extensive