Question
In: Economics
Briefly discuss the role of capital accumulation in economic growth and development.
Briefly discuss the role of capital accumulation in economic growth and development.
Solutions
Expert Solution
Capital per worker rises when the rate of capital accumulation is greater than the rate of population growth. Hence, capital accumulation by enlarging the scale of production and specialisation increases the production and productivity in the economy and thereby promotes economic growth.The goal is to increase the value of an initial investment as a return on investment, whether that be through appreciation, rent, capital gains, or interest.
Rahul Sunny answered 2 years agoRelated Solutions
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centered'. Economic development is economic growth plus positive
changes in the factors or indicators of well being of the masses.
Explain economic growth and examine or discuss some of the factors
or indicators of which positive changes will bring about economic
growth and lead to economic development. Hints- examples of the
factors or indicators include: physical capital per worker, human
capital per worker, natural resources per worker, technological
knowledge, savings...
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