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 1 year agoRelated Solutions
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