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GROWTH: The process of increasing the economy's ability to produce goods. Growth is also one of the three macroeconomic goals of an economy (full employment and stability are the other two). Growth is usually measured by increases in gross domestic product or per capita gross domestic product. The main sources of growth are increases in the quantity and quality of the resources. And the primary way of achieving these increases goes by the term investment.
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EQUALITY STANDARD An income distribution standard in which income is divided equally among members of society. This is one of three basic income distribution standards that answers the For Whom? question of allocation. The other two are the contributive standard and the needs standard.
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There were no banks in colonial America before the U.S. Revolutionary War. Anyone seeking a loan did so from another individual.
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"Don't waste your effort on a thing that results in a petty triumph unless you are satisfied with a life of petty issues. " -- John D. Rockefeller, industrialist
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IDA
International Development Association
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