Business Regulations and Their Influence on Economic Prosperity
Economic growth is the increase in the production of economic goods and services, compared from one period of time to another. Traditionally, aggregate economic growth is measured in terms of gross national product (GNP) or grossly domestic product (GDP), although alternative metrics are sometimes used. On the other hand, a business is simply a commercial enterprise carried on for profit. 3 Businesses provide goods and services that drive economic output. The factors of Economic Growth include natural resources, Infrastructure, Labour, human capital, technology, and law among others. The indicators of economic growth 4 include high rates of growth per capita output and population, high rates of increase in total factor of productivity (TFP) i.e. the output per unit of all inputs, high rates of structural transformation of the economy, high rates of social, political and ideological transformation and propensity to trade. Business Regulations are all laws conside...