Causes, Advantages and Disadvantages of Economic Growth.

Disadvantages Of Economic Growth Economic Growth Economic growth is the increase in the amount of the goods and services produced by an economy over time. It is conventionally measured as the percent rate of increase in real gross domestic product, or real GDP.

Growth has a number of economic and social benefits. These include. Improvements in living standards: Growth is an important avenue through which per capita incomes can rise and absolute poverty can be reduced in developing nations.Professor Paul Collier has argued that “growth is not a cure-all; but the absence of growth is a kill-all.”.

Introduction This essay will focus on the effectiveness and implications of using economic indicators. Specifically, Gross Domestic Product, Gross National Product and Human Development Index. It will continue to outline the advantages and disadvantages of each measure which will allow a conclusion to be made. What is GDP and how is it used?

Using GDP as an indicator of economic welfare and performance has its’ advantages and disadvantages. GDP is a well-respected, clear assessment of the wealth of a nation’s economy. The measurement is relatively uncomplicated to calculate from official government figures.

Economic growth is an important factor in reducing poverty and generating the resources necessary for human development and environmental protection. There is a strong correlation between gross domestic product (GDP) per capita and indicators of development such as life expectancy, infant mortality, adult literacy, political and civil rights and some indicators of environmental quality.

Supply-Side economics and policies would best benefit the economy in the case of a recession next year. Supply-side policies are made of several important points to regulate the economy. Supply-side policies consist of stimulating the economy by production, cutting taxes, and limiting government.

Disadvantages of the Global Economy. Undeveloped countries’ overdependence on donations and aid is a disadvantage of the globalized economy. Developing countries tend to rely on the progressive nations for infrastructure developments. The reliance influences the developed countries to suppress a development affecting a country economic growth.

There are also some advantages and disadvantages in economic growth. First advantage of economic development is improvement in living standard. This implies, the rate of poverty will certainly reduce. Second, it'll raise the rate of job. So, more and more people will receive a job. Third, it will increase in capital investment.

State-owned enterprises are regarded as a particular circumstance of business organisations and considered as the basis of economic growth in many countries (Zhang, 2011). It can be seen that the proportion of state-owned companies has increased from nine percent in 2005 to 23 percent in 2014.

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