Economic growth can only be seen when there is an increase in quality and quantity of the factors of production so clearly it is a function of these factors. The purpose of economic organization – including all labor – is to create things that people value. Economic growth occurs when more and cheaper goods can be created.
Governments suffered a fiscal toll given that they were forced to pay for food and shelter for poor refugees in their countries. The resulting crisis had profound consequence on government’s economies and social system given that they also affected the citizens
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