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- Standard of living of the people will increase
- the country will develop
- output of the country will increase
- prices of goods might decrease
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What are the Advantages and disadvantages of economic growth?
advantages:
Are there types of economic growth?
Types of economic growth: There are two types of economic growth: 1.Balanced Economic Growth 2.Un-balanced Economic Growth 1.Balanced Economic Growth: All the economic sectors are growing at same ratio or percentage,this growth is known as balanced economic growth. 2.Un-balanced Economic Growth: When some sectors of the economy are growing faster than others,and their rate of growth is different to each other,this growth is known as un-balanced economic growth.
How does the disadvantages of economic growth outweigh the advantages?
In general, most economists disagree with this notion, arguing that economic growth has more advantages than disadvantages. Here are some reasons why:1) Economic growth and indicators of quality of life (such as education, basic services, access to food and water, life-span, etc.) are positively statistically correlated. This means that as economic growth increases, quality of life tends to increase.2) Although distribution of wealth is sometimes problematic for many people, even the poorest people in growing societies are better off than they would be without economic growth.3) Economic growth is logarithmic, which means that it is a positive feedback: more growth tends to increase growth and thus improves the well-being of society.4) In a system with increasing population, economic growth is required in order to maintain a base standard of living. That is, an economy must grow at the rate of population growth in order for standard of living not to fall.
An economic is a time of fast economic growth?
An economic growth_______ is a time of fast economic growth
What are the distinctions between economic growth and economic development?
Economic growth is the growth of people which causes economic development, the growth/development of cities/towns. (i.e. businesses and buildings)
What are the Advantages and disadvantages of economic growth?
advantages:
What are the advantages and disadvantages of the events?
advantages..economic growth..employment opportunities..local and national pride.. disadvantages..environmental pollution..a big target of terrorists..
What are the advantages and disadvantages of hosting an event?
advantages..economic growth..employment opportunities..local and national pride.. disadvantages..environmental pollution..a big target of terrorists..
Are there types of economic growth?
Types of economic growth: There are two types of economic growth: 1.Balanced Economic Growth 2.Un-balanced Economic Growth 1.Balanced Economic Growth: All the economic sectors are growing at same ratio or percentage,this growth is known as balanced economic growth. 2.Un-balanced Economic Growth: When some sectors of the economy are growing faster than others,and their rate of growth is different to each other,this growth is known as un-balanced economic growth.
Advantages and disadvantages of population?
Advantages: Increased labor force, potential for economic growth, cultural diversity and exchange of ideas. Disadvantages: Strain on resources, impact on environment, potential for overcrowding and social issues.
similarities of economic growth and development?
economic growth
An economic is a time of fast economic growth?
An economic growth_______ is a time of fast economic growth
How does the disadvantages of economic growth outweigh the advantages?
In general, most economists disagree with this notion, arguing that economic growth has more advantages than disadvantages. Here are some reasons why:1) Economic growth and indicators of quality of life (such as education, basic services, access to food and water, life-span, etc.) are positively statistically correlated. This means that as economic growth increases, quality of life tends to increase.2) Although distribution of wealth is sometimes problematic for many people, even the poorest people in growing societies are better off than they would be without economic growth.3) Economic growth is logarithmic, which means that it is a positive feedback: more growth tends to increase growth and thus improves the well-being of society.4) In a system with increasing population, economic growth is required in order to maintain a base standard of living. That is, an economy must grow at the rate of population growth in order for standard of living not to fall.
What are the distinctions between economic growth and economic development?
Economic growth is the growth of people which causes economic development, the growth/development of cities/towns. (i.e. businesses and buildings)
Advantages and disadvantage of using the GDP as a measure of productivity and economic health?
The advantages of using GDP as a measure of productivity and economic health is that GDP is universal and can be used to measure an economy's growth or decline. The disadvantage of using GDP as a measure of productivity and economic health is that it does not effectively measure the quality of products.
An economic what is a time of fast economic growth?
boom/growth
What are the stages in economic growth?
note on stages of economic growth
