Textbook Notes (369,138)
Canada (162,408)
Economics (923)
ECN 204 (282)
Chapter 4

chapter 4

3 Pages

Course Code
ECN 204
Tom Barbiero

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Differences in the living standards of a country are due to modern economic growth where some countries have experienced this phenomenon and poorer countries are countries that have not experienced economic growthModern economic growth is the increase in outpit per person 43 to increase the living standards of a country over time the country must invest current resources to increase future outputsavings is when individuals do not spend their entire income during a given interval of tie In economics investment is the spending for the production and accumulation of capital and additions to inventorieseconomic investment is when money is invested in producing and gaining more capital and increasing the inventories of a companyfinancial investment is the purchasing of financial assets such as stocks shares or real assets or building assets with the expectation that they will make a profit off of these
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