Which of the following best defines the term "economic growth"?

A. An increase in available land resources
B. A company that invests in additional physical capital
C. An increase in an economy's ability to produce goods and services
D. An increase in the value of the goods produced within the economy

Please select the best answer from the choices provided:
A
B
C
D

Economic growth is the increase in an economy's capacity to produce goods and services over time by enhancing factors of production and technological advancements.

Explanation:

Economic growth is defined as the increase in an economy's ability to produce goods and services over time. It results from increasing the quantity or quality of factors of production and advances in technology. This growth is crucial for a country's development and is measured by the rise in real gross domestic product (GDP).

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