Economic growth refers to an increase in the amount of goods and services produced in a country over a specific period of time. It has a quantitative dimension.

The features of Economic Growth are as follows:

i. No solution to Economic Problems: 

• Economic growth does not provide any solution to the economic problems faced such as poverty, inequality, unemployment etc.
• It solely concentrates on the increase in production of goods and services.  

ii. Continuous Process: 

• Economic growth refers to the continuous increase in the production of goods and services by making the optimum usage of available resources.  
• However, a temporary and sudden increase in the Gross National Product (GNP) during the boom period cannot be regarded as increase in economic growth.

iii. Increase in Per Capita Real Income:  

• Real National Income refers to the nation’s total output of final goods and services in physical or real terms rather than in monetary terms. 
• If the rate of growth of population is lower than the rate of increase in real income, then there is an increase in the Per Capita Real Income. This is considered as a feature of economic growth.

iv. Quantitative Concept: 

• Economic growth refers to an increase in the amount of goods and services produced in a country over a specific period of time.
• The concept pulls attention towards the aspect of size or quantity or number. 
• It takes into consideration various quantitative aspects such as increase in National and Per Capita Income whereas it fails to consider nature of wants, quality of goods, taste of the consumers and so on. Thus, Economic Growth is termed as a quantitative concept.

v. Long Term Process: 

• Economic Growth is a long term process.  
• It is measured in terms of increase in National Income which takes place over a longer period of time.

vi. Lack of Structural Changes:

• Economic growth does not cause any structural changes in the economy.
• Structural change refers to the long term shift in the nation’s structure.
• For e.g. An agrarian economy transforming into an industrialized economy. The economy, in this stage, mainly depends upon the growth in the primary sector i.e. agriculture.