Economic Development
- English 🇺🇸
- 한국어 🇰🇷
Economic growth is the increase in the size of a country's economy over time. It's measured by the total production of goods and services in the economy, called gross domestic product (GDP). Economic growth can be measured in nominal or real terms, adjusted for inflation. Economic growth is an indicator of the financial health of a country. Policies encouraging savings and technological change, such as tax credits for research and development, lead to higher economic growth.