6.4 Economic Growth

New ways of looking at problems and solving them with unique ideas.

• Creativity

• Innovation

• Imitation

• Tradition

The basic physical structures and facilities needed for the growth and development of an economic system.

• Infrastructure

• Superstructure

• Framework

• Foundation

An increase in efficiency gained by producing more output without using more inputs.

• Technological progress

• Operational efficiency

• Resource optimization

• Cost reduction

The right to exclusive marketing of a product for 20 years, issued by the government.

• Copyright

• Trademark

• Patent

• License

Improved housing, growing incomes, and more consumer goods.

• Material progress

• Economic stagnation

• Social decline

• Cultural regression

Areas where it is difficult to get affordable, nutritious food.

• Food deserts

• Nutritional wastelands

• Grocery gaps

• Dietary voids

The portion of disposable income that consumers are saving.

• Savings rate

• Expenditure rate

• Investment rate

• Consumption rate