The Student Room Group

Define Economic Progress

Can anyone help me with a precise definition of economic progress? I have a question about measuring economic progress using GDP per capita and real wages, however I have not been given a definition, nor can I find one online.

Thanks in advance.
Well I can tell you that Africa as a whole is not the definition of economic progress, its a total mess of an economy across that continent. How about a more serious answer. I would define economic progress as being the progressive increase in GDP, economic and industrial output defined also by an increase in living standards, an increase in HDI( and other core indicators), an increase in social equality(rights, services etc.) and a general upward spiral of growth. I'm a tad rusty with economics but thats what I can give ya, its been a good few months since I studied anything economics related(did economics at GCSE and explored it quite deeply with Geography of all subjects but hey thats human geography for ya)

Quick Reply