Economic growth models

Economic growth models are tools that explain how a country's economy expands over time. They analyze factors like capital (factories, machinery), labor (workforce), and technology, showing how investing in these areas can boost productivity and income. For example, better technology can make workers more efficient, leading to more goods and services. These models help policymakers understand what strategies—like improving education or infrastructure—can promote sustainable growth. Essentially, they provide a structured way to see how different elements work together to increase a nation's overall economic well-being.