What term is used to describe the growth of real output in an economy over time, typically measured in real GDP?

The term "economic growth" specifically refers to the increase in the real output produced within an economy over a specified period, with real GDP serving as the primary measure of that output. Real GDP adjusts for inflation and provides a more accurate reflection of the economy's size and how it evolves over time. By examining changes in real GDP, economists can assess whether an economy is expanding or contracting, which is essential for understanding overall economic health and making informed policy decisions.

The other terms, while related to growth, do not capture the broad concept of economic expansion as it pertains to output and production. Market growth might refer to the expansion of specific segments or sectors within an economy without necessarily considering the overall output. Financial growth typically focuses on the increase in financial assets or capital within markets, rather than output itself. Capital growth generally pertains to the increase in physical capital stock, such as machinery or infrastructure, but it does not encompass the wider context of output growth reflected in economic terms.