It refers to the increase in the country 39 s capacity to produce the output of goods and services w...........

Economics (CUET) Introduction to Micro economics

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It refers to the increase in the country's capacity to produce the output of goods and services within the country.

(1) Economic growth

(2) Modernisation

(3) Equity

(4) Self-reliance

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Explanation:

Economic growth refers to an increase in the production of goods and services in an economy over time.
• It is measured by the rise in Gross Domestic Product (GDP) or Gross National Product (GNP).
• Factors contributing to economic growth include investment in capital, technological advancements, labor force expansion, and improved productivity.
• Modernization (Option 2) refers to societal and structural changes, whereas self-reliance (Option 4) means reducing dependence on foreign resources, and equity (Option 3) focuses on fair distribution rather than production capacity.