Identify and explainthe benefits and problems associated with high economic growth

Business

1 answer:

frozen [14]3 years ago

5 0

Answer:

Kindly check explanation

Explanation:

High economic growth is usually the aim of several economic policies whichnmost countries try to employ. The reason for this is no other than the numerous benefits attached to it which includes;

Increase in GDP : With growth in the economy of a country, trading within and outside these countries will rise, leading to increase in revenue earned and hence, the gross domestic product. This will pave the way for :

Infrastructural development : The development of infrastructure and standard society will be on the horizon as the economy grows. There is enough capital to embark on infrastructural development which will serve the populees

Other benefits include ; Trade and investment opportunities ; Increase in foreign direct investment and employment level will increase.

High economic growth also has it's drawbacks which include ;

Higj Immigration level ; Businesses and individuals are always on the lookout for areas with good investment opportunity in which an high income society is usually a main target. With increasing immigration, overcrowding may result.

Also, Investment cost may begin to rise, coupled with increase in foreign investment influx, the local market may be at risk of being able to compete.

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Labor costs are 30% of sales. Other operating costs are $38,000 per month (including $10,000 of depreciation). Both of these are

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