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Effects of economic growth (notes)
Title: Effects of economic growth (notes)
Category: Business & Economy / Accounting
Details: Words: 313 | Pages: 1.3 (approximately 235 words/page)
Effects of economic growth (notes)
Effects of economic growth:
Living standards:
Faster economic growth results in an increase in real GDP per capita. Real wages can rise & households can enjoy a higher disposable income & therefore higher material standards eg. faster economic growth in Australia resulted in 3.0% annual growth in per capita real incomes in the decade 2003 compared to 1.4% in the 1980s
Employment:
Economic growth creates jobs & a strong enough level of economic growth can …showed first 75 words of 313 total…
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…showed last 75 words of 313 total…Although it is thought that higher economic growth contributes to higher living standards, it often only benefits a particular group of people such as shareholders or company executives (higher income earners), rather than flowing more broadly to people through wage increases or improved public services.
Environmental impacts:
If growth is pursued with little regard to its impact on the environment, it can result in pollution, depletion of non-renewable energy resources and damage the local environment
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