Sustained economic growth refers to a consistent increase in an economy's real GDP (adjusted for inflation) over an extended period. It signifies long-term expansion leading to higher living standards and improved economic well-being.
Related terms
Productivity: The amount of output per unit of input (e.g., labor or capital), indicating efficiency and effectiveness in production processes.
Investment: The purchase or creation of capital goods such as machinery, buildings, or technology that enhance future production capabilities.
Human Capital: The knowledge, skills, education, training, experience, and health attributes possessed by individuals that contribute to their productivity levels.