5 Causes of Economic Growth + Prices
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8 Terms
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Economic growth: specialization
specialization
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Economic growth: discovery of
more resources
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Economic growth: technological
innovation
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Economic growth: improvement in infrastructure
better roads
better communications
more police
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Economic growth: Better customs and laws
Honest and fair courts
Good laws
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Economic growth: Willingness of populace to accept creative destruction
Creative destruction = new ways destroy the old ways
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A price is
a term of exchange
prices can be non-monetary
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To have an actual price you must have
an actual exchange (buyer and seller)
a price is the actual amount of money when that transaction is exchanged
Note 
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