Economics growth refers to long term increase in real national income or real national output value of national output or national income may increase when 1 . production of goods and services remains constant 2 . when prices of goods and services increase while production of goods and services remains constant . 3 . economic growth in an economy occurs when production of goods and services increases without increases in the price of goods and services , such type of growth is called real growth 4 . economics growth always refers to increased flow of goods and services over a long time an occasional rise in the volume of output cannot be termed as economic growth
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