🎴 Flashcard Mode
Theories of Economic Growth and Development
Card1 / 15
Mastered0
Review0
QuestionClick to flip
Which theory emphasizes the importance of technological progress and innovation as the primary drivers of economic growth?
AnswerClick to flip back
A
Endogenous Growth Theory
💡 Explanation:
Endogenous Growth Theory posits that technological progress and innovation are internal to the economic system and can be influenced by factors such as research and development, education, and institutional frameworks.