Causes of economic growth

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Causes of economic growth by Mind Map: Causes of economic growth

1. Things use to produce something else, without them you would not have consumer goods.

2. Land

2.1. Discovery of new mineral

2.2. Efficient farming methods

2.3. Advanced technology when extracting raw materials

2.4. Utilising land more efficiently, so more resources to produce goods & services

3. Labour

3.1. Migration

3.1.1. However may not increase in income per as diving by more people

3.2. Demographic Changes

3.2.1. Increase tax benefits for more children

3.3. Increase retirement age/participant rates

3.4. More productive/ efficient

3.4.1. Through education and training

4. Capital

4.1. Without capital you cannot make consumer good

4.2. Gov. controls this by tax structure

4.3. Tech processes creates new products which generate more consumer spending.

5. Enterprise

5.1. encourage manager to be more innovative and provide more extensive training