US economic growth refers to an increase in the production of goods and services within the United States over time. It involves an expansion of industries, investment, employment opportunities, and overall prosperity.
Related terms
Gross Domestic Product (GDP): GDP is the total value of all goods and services produced within a country's borders during a specific period.
Industrialization: Industrialization refers to the process by which an economy transforms from primarily agrarian (based on farming) to one dominated by manufacturing industries.
Consumerism: Consumerism is a social and economic ideology that encourages excessive buying and consumption of goods and services as a measure of success or happiness.