Growth Rate
Percentage increase in economic/market measure over period.
Formula
Growth Rate (%) = ((New Value − Old Value) / Old Value) × 100
Real World
India's GDP grew at around 8% in 2023, making it one of the fastest-growing major economies — businesses like Reliance Industries expanded rapidly to capture this rising consumer market.
Exam Focus
Always show your growth rate calculation and state whether it refers to GDP or market growth when 'analyse' or 'evaluate' is the command word.
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