Economic growth  is the change over a period of time in the Value (monetary and non-monetary) of goods and services and the ability and capacity to produce goods and services. It is economic growth which generates the wealth necessary to provide social services, health care, and education. It is the basis for ongoing job creation. However, sustainable development requires that there be a change in the nature of economic growth, to ensure that goods and services are produced by environmentally sound and economically sustainable processes. This will require efficient use of resources, value-added processing, sustained yield management of renewable resources, and the consideration and accounting of all externalities and side-effects involved in the extraction, processing, production, distribution, consumption, and disposal of those goods.

Other definition:
Economic growth is an increase in real output per capita.

Related Articles

Consumption at top500.de■■■■■■■
Consumption is a term that can refer to:1. The using up of goods or services or the amount used up 2. . . . Read More
Thriving at top500.de■■■■■■
Thriving in the industrial and industry context refers to a state of robust and sustained growth, success, . . . Read More
Civilisation at top500.de■■■■■■
Civilisation in the context of industry refers to the stage of human social development and organization . . . Read More
Establishment at top500.de■■■■■■
Establishment: In the industrial context, establishment generally refers to a business or organization . . . Read More
Sustainable tourism ■■■■■■
Sustainable Tourism certifications are programs that measure a Range of environmental, socio-cultural, . . . Read More
Insurance at top500.de■■■■■■
Insurance, in law and economics, is a form of risk management primarily used to hedge against the risk . . . Read More
Competitor at top500.de■■■■■■
Competition is a rivalry where two or more parties (Competitors) strive for a common goal which cannot . . . Read More
Taxation at top500.de■■■■■■
Taxation in the industrial and industry context refers to the process of levying and collecting taxes . . . Read More
Officer at top500.de■■■■■■
An officer is a person who has a position of authority in a hierarchical organization In an industrial . . . Read More
ISO at top500.de■■■■■■
In the industrial context, 'ISO' refers to the International Organization for Standardization, which . . . Read More