What is economic growth? Share with your friends Share 1 Vandana K. answered this Economic growth refers to a consistent and considerable increase in the amount of goods and services produced by an economy over a period of time. Usually increase in GDP is taken as a measure of economic growth. 1 View Full Answer The Mykey Siddharth answered this Economic growth:-an increase in the amount of goods and services produced per head of the population over a period of time.Have a good day...!!!! 1