Geography and Growth - 2 Things that Matter

Geography and Growth are two important factors that can influence the success of any economy. Geography determines the resources available to a region, the potential for trade, and other factors that can have a major effect on economic growth. For example, if a region has easy access to transportation networks and to areas with plentiful resources, it may be able to see more growth than a region that does not have the same advantages. Growth on the other hand, is a measure of the rate of economic growth in a region. This can be affected by a variety of factors such as the available talent pool, infrastructure and support from the government. If the region is able to attract investment in these areas, then it increases the chance of sustained economic growth. Growth also depends on the ability of the local population to produce goods or services at a price and quality which makes them attractive to foreign markets. When these factors come together, they create a positive feedback loop that can help to create sustained economic growth.