GEO 607 Lecture Notes - Lecture 3: Atb Financial, Gross Domestic Product, The Conference Board
Document Summary
Land, building, machinery, power, transportation, and technology for communication. The production and acquisition of these materials is capital formation. Combining these result in increased output and economic growth. Technological development application of scientific methods and production techniques. Involves customs, traditions, values and beliefs, which contribute to the growth of an economy to a considerable extent. Social factors are usually constraints to economic growth, but can stimulate growth in some situations (eg. japan and electronics) Video- robert cervero - transforming cities with transit. 2016- high percentage of low quality jobs- can pull us into recession. Quantity over quality of jobs: 160,000 new jobs between january and november. More than each of the 3 prior years. This unfavourable composition between full- time and part-time typically has not occurred outside of a recession period. Recent years have seen a slowdown in the growth of the core working age population.
