Economic Growth
- Created by: Alison Curwen
- Created on: 17-10-14 11:56
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- Economic Growth
- Increase in National income over time.
- Benefits
- Increased income
- More leisure time
- Greater life expectancy
- Better public service
- Problems
- Regional differences
- Areas grow at different rates that = discontent
- Enviromental damage
- Unsustainable growth
- Growth with non-renewable resources
- Oil, gas
- Growth with non-renewable resources
- Inflation
- Rate of inflation is in creasing to fast. So peoples wages cannot keep up with the rate of inflation.
- Regional differences
- GDP
- Gross Domestic Product
- iIt measures national income
- National income is from wages, profits and interest.
- Limitations of using GDP as a measure of growth
- Inflation
- Population changes
- Statistical errors
- The of home produced goods
- Hidden ecconomy
- GDP and living standards
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