IDNLearn.com: Where your questions meet expert answers and community support. Ask any question and get a detailed, reliable answer from our community of experts.
Sagot :
Final answer:
The most important source of economic growth according to the Classical growth model is technological development.
Explanation:
According to the Classical growth model, the most important source of economic growth was technological development. In this model, new methods of production, scientific inventions, and better management play a crucial role in driving economic growth.
Technology is typically the main contributor to economic growth, surpassing the impact of human capital and physical capital accumulation. The Classical Growth Theory emphasizes the significance of technological progress in the economic expansion of a country.
In essence, advancements in technology lead to productivity growth, which is crucial for sustained economic development and improvement in GDP per capita.
Learn more about Classical growth model and its emphasis on technological development here:
https://brainly.com/question/45987754
We appreciate your participation in this forum. Keep exploring, asking questions, and sharing your insights with the community. Together, we can find the best solutions. Discover insightful answers at IDNLearn.com. We appreciate your visit and look forward to assisting you again.