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Which among the following is NOT a major factors of economic growth ?
Explanation
Economic growth is driven by both economic and non-economic factors. Major economic factors include the accumulation of capital, technological progress (reforms in technology), availability of natural resources, and human resources (including changes in population and the division of labour). Division of labour, as highlighted by Adam Smith, increases productivity through specialization.
Technocrats and Bureaucrats are administrative and political actors. While they play a role in governance and policy implementation, they are generally classified as non-economic factors or institutional components rather than primary drivers or "factors of production" in classical and neoclassical growth models. Therefore, they are not considered a "major factor" of economic growth in the same category as capital, labor, and technology.