A Model to Enhance the Economic Growth Rate and Literacy Rate of the Rural and Urban Area

Background

A good model or plan is always required to achieve the mission and vision of countries, institutes, companies etc. Moreover, the sense of belonging should be developed of every people for the country or every employee of the company. Every model is implemented to enhance the living standard of poor people who belongs to rural and urban area of the county. There are many scholars who involves to develop economic growth formula either pragmatic or theoretical for the people of the country. The entrepreneurship is one of the good ideas to success the economic growth of the country. An economist, Alfred Marshall (1890) has given the idea of entrepreneurship to enhance the capital of the country. The entrepreneurship has been promoted by the government to increase the per capita income and long run gross domestic product (GDP) which is referred from S. A. Greenlaw and T. Taylor (2014) in principle of macro-economics. The long run and short run are the two equilibria of macroeconomics. In short run equilibria of macroeconomics, the wage and the prices of many goods items unable to enhance the economic growth. It is because of the suddenly change of market goods price including wage are slow thus, under short run condition, it is unable to maintain equilibrium level of economic growth of the market. While, the long run equilibrium of macroeconomics is able to handle such kinds of problems which exist in previous case. Thus, in long run, employment level moves in its natural level and it enhance the real GDP to potential. It is economic growth machine which assist the GDP and create more new jobs.