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Intro to the two drivers of economic growth
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Intro to the two drivers of economic growth
3:15
About this lesson
Economic Growth Overview:
2 Factors of Economic Growth
- Technological Change
- Capital Accumulation
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Video 1 of 7
Intro to the two drivers of economic growth
3 min
• Selected
How economic growth shifts the PPF using a chicken and farms example
3 min
Drawing a PPF for a company producing phones and laptops
2 min
Shifting the PPF when new technology increases laptop production
1 min
Analyzing how new technology affects opportunity cost of cell phones
4 min
Explaining why new technology makes the company more efficient
3 min
Why scarcity persists despite economic growth
2 min