A country's economy needs to continue to grow because its population often continues growing over time. For example, at one time, restaurants used to require all customers to eat on the premises. A smaller population does mean that there are more resources to go around. Then, manufacturers improved food packaging, and it became feasible to package a food order to carry out. But it's true that a country that grows economically, at a high rate and consistently, is much better off in many fronts. endstream endobj 152 0 obj <>stream
This indicates either a run-up in financial markets ahead of fundamentals or … The importance of economic growth lies in a country's ability to ensure its citizens are more prosperous than citizens were in prior decades. Such countries have high standards of living, better health and education systems, low employment and low poverty. %PDF-1.6 %����
h�mO�0���?���/yq"!��R��D�uR���)$U�N����N���M�����w�{���'��0 ��!$q�$�@mD�1�]X���%'A��(���Mz��X��B�& ���G�h�����DD��1��䄎r��Z��5�_��:��j�:Y/5=2c��>=��U���X�R]�̬��^d���GIZ��c:^-��~�m¬OR��"fM~/�Yj��sz���:["EA�YOpF��Z�P :,��O�^��=�c�1���,�p��A-o��z�4�2���ԅ��#���. So there is that struggle with keeping inflation low as the economy grows. As a result, economic growth is often seen as the 'holy grail' of macroeconomics Economic growth also plays a role in reducing debt to GDP ratios. Clear answers for common questions The importance of economic growth lies in a country's ability to ensure its citizens are more prosperous than citizens were in prior decades. In both instances, innovation and efficiency were applied to the problem of limited resources to save money and increase output and sales. @ԡ�?�& ��| FuAs�� V ��lL��v3(�W�`r�``���� �=pg�00��/ �>0
The importance of economic stability Economic stability ensures stable prices, job creation, and a balance of debtors and creditors.
), does this mean that Europe will be even better off in the future than it is now economically? .���r Ap�{��+��lߏ�Y����gﶀ�� -�]4�kH��,;�ҍ��k 3��ܪ����H>�gj+�8�}m����}��]/nC�[֡K���_��B Economic growth is important because it can be seen as a desirable objective for all economies. endstream endobj 153 0 obj <>stream Economic Growth is important because it is the means by which we can improve the quality of our standard of living .It also enables us to cater for any increases in our population without having to lower our standard of living. This relates to ensuring the When a government looks at GDP, it analyzes issues, such as whether the rate of economic growth will keep up with the rate of population growth, or whether it will be greater than the rate of inflation. I remember reading that populations in the European Union are not growing much because people are having less kids. And of course, as the economy grows, inflation naturally increases. h�b```�T�p!ʰ !�f��m���x-cjo``�Z�x. It's very difficult. The idea of the rate of economic growth keeping up with increasing population is interesting. ��ˁ��;�6u ��&#�2����H%�?c�G� _ .
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