00:01
There are four main forces of economic growth, the first of which is natural resources, and we can see economic growth occurring in places in which natural resources are abundant.
00:14
What we could assume is that in places where natural resources are severely lacking, that we would also see slower economic growth because of this lower access to such natural resources.
00:27
A second driving force here would be human resources.
00:30
So that could be considered labor.
00:33
And we know that economic growth really thrives off of having a number of people, a number of labor inputs in which it has access to.
00:43
And so an economy that has very few people to contribute to, we couldn't expect to receive a whole lot of output out of it, knowing that economic growth is measured mainly in terms of gdp, and that is aggregate output.
00:56
We can't really expect to see an increase in that aggregate output...