In a medium sauce pan, bring beef broth to boil over medium heat. Stir-in onion powder, garlic powder and bouillon powder. Reduce heat to medium-low and simmer for 10 minutes.
Season with salt and pepper.
In a small bowl, make cornstarch slurry. Dissolve cornstarch in water. Pour cornstarch slurry in beef broth stirring constantly until smooth and thickened.
Transfer right away to a serving bowl. Note: As it cools, it thickens.
1. You can use beef broth or beef stock but if you have a choice, use beef broth.2. If you have beef or any meat drippings, definitely add that.3. For smooth gravy, make sure cornstarch slurry does not have lumps before pouring in broth. Also, while pouring slurry, make sure to constantly stir gravy to prevent clumps.4. Store leftover gravy in an airtight container up to 3 days in the refrigerator and reheat in the microwave. Gravy tends to thicken when cool, if you think it needs a little bit of beef broth or water, I suggest to reheat on the stove at medium-low heat, stirring constantly until hot.5. You can freeze gravy up to a month. Thaw in the fridge and warm on stove-top. You might need to thicken it again.