2.5.4: Impact of economic growth

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Created by
Kendrick Lamar

Cards (8)

  • Benefit of Economic growth: Higher standard of living
  • Benefit of Economic growth: Creation of jobs
  • Benefit of Economic growth: Increased government revenue
  • Benefit of Economic growth: Increased opportunities for workers
  • Cost of Economic growth: Increased inflation due to more consumption
  • Cost of Economic growth: Damage to the environment
  • Cost of Economic growth: Increased inequality
  • Kuznet's curve suggests that inequality increases during early stages of economic development, but decreases as a country develops