April 27, 2023

What is an aggregate demand and economic growth?

In today's blog post, I want to briefly discuss aggregate demand and its relationship with economic growth. Aggregate demand refers to the total demand for goods and services within an economy at a given price level and time period. It plays a crucial role in determining the overall health of an economy. Economic growth, on the other hand, is the increase in an economy's capacity to produce goods and services over time. When aggregate demand increases, businesses respond by expanding production, which in turn fosters economic growth and leads to a healthier and more prosperous society.

April 2, 2023

What is economic productivity?

Economic productivity is a measure of how efficiently a country or business utilizes its resources to create goods and services. It is an important economic indicator that reflects the overall health of an economy and its ability to produce goods and services for its citizens. Higher productivity leads to more wealth and higher standards of living. It also indicates that a country or business’s resources are being used effectively to create the maximum amount of value from them. It is a key factor that can help in assessing the economic health of a country or business.