Economic growth is the change of the results of the functioning of economics. Economic growth is divided into intensive and extensive according to the methods and principles of the development. The extensive economic growth is observed when the process of production involves more and more resources for the improvement of its rates, while the intensive growth is the involvement of the latest achievements and discoveries in science and technology and improvement the new forms of the organization of the production. The macroeconomic factors which influence the economic growth are factors of supply, demand and distribution. The factors of supply are: the quantity of and quality of natural resources, the quality and quantity of the labor force and the quantity of the main capital.
These factors influence the economic development, because the quality of the labor force and the available resources and capital are able to make the process of production intensive due to the hard work of the employees and their top qualification which can influence the results of the work and increase the success of the company.
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The factors of demand are very important for the gradual economic growth, because if no one requires the chosen production or if no one is able to spend money on it, the production will be useless and the growth will not occur. The problem of economic growth is quite important for understanding but at the same time the factors important for it are quite easy. The only thing which is essential for the intensive and rapid economic growth is the cooperation of all the factors simultaneously.
Economic growth is the natural process which occurs in economics and it is associated with the reduction of the rates of unemployment, the increase of the income and quality of life. The student is able to prepare a quality research proposal which would observe the issue on economic growth from the alternative and personal point of view. The young professional should present his own vision of the problem and suggest the new research approach and choose the core questions for the research. The student is expected to use the adequate methodology and choose the most useful sources to collect information about the economic growth and its types.
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