Question

The sources of economic growth are​ _______. A. work hours growth and labor productivity growth B. democracy and labor productivity growth C. job experience and low inflation D. work hours growth and a stable government

Answer 1

Answer:

A. work hours growth and labor productivity growth

Explanation:

An economy is a function of how money, means of production and resources (raw materials) are carefully used to facilitate the demands and supply of goods and services to meet the unending needs or requirements of the consumers.

Hence, a region's or country's economy is largely dependent on how resources are being allocated and utilized, how many goods and services are to be produced, what should be produced, for whom they are to be produced for and how much money are to be spent by the consumers to acquire these goods and services.

Basically, there are four (4) main types of economy and these are;

I. Mixed economy.

II. Free market economy.

III. Traditional economy.

IV. Command economy.

Generally, the sources of economic growth of a country are​ work hours growth and labor productivity growth.

Labor (working) is simply the human capital or workers who are saddled with the responsibility of overseeing and managing all the aspects of production.