Growth

Note: I will separate each posts into an easy part and a hard part, indicated by a line. 

The easy definition: Growth is self explanatory. It is the measurement of how big the output/input of an industry/country/mouth of a person have grown during a set amount of time. It is usually measured in monetary terms and adjusted with inflation to show real growth.

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The nerd definition: One important thing to think about when talking about growth is the concept of flow and stock. Flow is how long the line is on a graph, and stock is the data points.

What about GDP?

(Extended reading can be found under this sentence. You have been warned.)

GDP is basically the national income. This is a term that usually comes up if you're looking at macroeconomics. A GDP, or the national income, OR the national output, all means the same. It's the market value of how much products/services and country made during a single year. Why is the national income and the national output the same? Imagine buying something at Moe's. The income of Moe's (national income) would be equal to how much tacos they sold (=national output). Of course, this may not be the case sometimes, due to price inflation and all that, but forget about those for the time being.