Final answer:
Per capita national output, amount of natural resources, and size of the country's population are key components in determining the economic growth of a country.
Step-by-step explanation:
One key component in determining the economic growth of a country is per capita national output. Per capita national output refers to the average income per person in a country, which provides a measure of the standard of living. As per capita income grows, it indicates that the economy is experiencing growth. This is an important factor when considering if a country's economy is moving into a higher standard of living.
Another important component is the amount of natural resources a country possesses. Natural resources, such as oil, minerals, and agricultural land, can contribute to economic growth and development.
The size of the country's population is also a factor to consider. Countries with fewer people tend to have a higher standard of living compared to overpopulated countries. The labor market can influence economic growth, and a smaller population may lead to better employment opportunities and productivity.
1