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Economic growth and Economic development:
Economic Growth refers to an increase in real aggregate output (real GDP) reflected in increased real per capita income.A country is said to experience economic growth if overtime, its real output (real GDP) increases as well as its real per capita income.
Economic development is a sustainable increase in real GDP that implies increased real per capita income, better education and health as well as environmental protection, legal and institutional reforms and an efficient production and distribution system for goods and services.
Money market: The money market is a market of short-term loans. It consists of financial institutions having surplus fund to lend on short-term basis, and those wishing to bor
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Individual Assignment ECO101 - PRINCIPLES OF ECONOMICS electronic submission via Moodle 6 Questions 100 marks (15% of total course) All questions should be attempted. 30-50 w
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