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depending on what system you are examining, the answer varies. for a capitalistic (us) economy, scarcity and independent markets drive the economy. supply and demand. the ability to independently set prices keeps the market moving with competition. adam smith.
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∙ 16y ago
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What sre the Disadvantage of high GDP Economic growth?
There are many disadvantages with high GDP growth. Businesses can have high Debts from banks that results into market break down. You can also have high inflation, which is caused by the every changes in growth.
Similarities between economic growth and economic development?
both are economical changes or scaling up.
The main economic variables that affect business cycles?
Recessions and periods of economic growth as the efficient response to exogenous changes in the real economic environment.
Why even small changes in the rate of economic growth are significant?
because it effects whole economy of a country
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.
What is migration transition?
Change in the migration pattern in a society that results from industrialization, population growth, and other social and economic changes that also produce the demographic transition.
What sre the Disadvantage of high GDP Economic growth?
There are many disadvantages with high GDP growth. Businesses can have high Debts from banks that results into market break down. You can also have high inflation, which is caused by the every changes in growth.
Similarities between economic growth and economic development?
both are economical changes or scaling up.
The main economic variables that affect business cycles?
Recessions and periods of economic growth as the efficient response to exogenous changes in the real economic environment.
What best explains the overall impact of the age of discovery?
Exploration and the growth in world trade led to social, political and economic changes all around the world.Exploration and the growth in the world trade led to social, political, and economic changes all over the world.
What best explaines the overall impact of the age of discovery?
Exploration and the growth in world trade led to social, political and economic changes all around the world.Exploration and the growth in the world trade led to social, political, and economic changes all over the world.
What best explains the overall impact of the age of the age discovery?
Exploration and the growth in world trade led to social, political and economic changes all around the world.Exploration and the growth in the world trade led to social, political, and economic changes all over the world.
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.
Why even small changes in the rate of economic growth are significant?
because it effects whole economy of a country
What statement best explains the overall impact impact of the age of discovery?
Exploration and the growth in world trade led to social, political and economic changes all around the world.Exploration and the growth in the world trade led to social, political, and economic changes all over the world.
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
