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.ECONOMIC GROWTHECONOMIC GROWTHFeatures of Economic GrowthDefinitionEconomic growth refers to an increase in a country's ability to produce goods and services.The advantage of economic growth is that an increase in real national income allows more goods for consumption.Developing CountriesA developing country or less developed country (LDC) is one which is not yet fully industrialised and tends to have the following features:lAgriculture is more important than manufacturing.llThere is limited specialisation and exchange.llThere are not enough savings to finance investment.llPopulation is expanding too rapidly for available resources.llA low standard of living.lA developed country is more fully industrialised and has a high standard of living.Barriers to Economic GrowthA country can increase production if it increases the amount of resources used or makes better use of existing factors.Economic growth is more difficult if:lA country lacks the infastructure (underlying capital) to produce goods more efficiently.There are three types of infastructure:llbasic including electricity, road and telephone networks;llsocial including schools, hospitals and housing;llindustrial including factories and offices.llA country lacks the machines or skilled labour needed to manufacture modern goods or services.llA country lacks the technical knowledge.llWorkers are not prepared to accept specialisation and the division of labour.llPopulation growth is too rapid.llA country has too large a foreign debt.lDisadvantages of Economic GrowthlIncreased noise, congestion and pollution.llTowns and cities may become overcrowded.llExtra machines can be produced only by using resources currently involved in making consumer goods.llA traditional way of life may be lost.llPeople may experience increased anxiety and stress.lNorth v.SouthThe Brandt CommissionThe Brandt Report divided the world into rich (North) and poor (South) sectors and found that in developing countries more than 800 million are destitute and 17 million die needlessly before they are five years old.We in the North have 25 per cent of the world's population but consume 80 per cent of all the goods made.Recommendations of the Brandt CommissionBrandt suggested that the North should help the South by transferring resources and starting a global famine relief programme.The development role of the World Bank should be strengthened.Nations should pay an income tax, and a tax should be put on the sale of military equipment
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Tematy
IndexL Frank Baum Oz 19 The Lost King of Oz
021. Zemsta SithĂłw (Matthew Stover) 19 lat przed Era Powstania Imperium
page+19
Leigh Dale and Helen Gilbert Economies of Representation, 1790 2000; Colonialism and Commerce (2007)
Exploring Economics 4e Chapter 17
Exploring Economics 4e Chapter 24
Evangeline Anderson Gypsy Moon Cygański Księżyc CałoÂść
63 7700
W dalekim kraju Holeman Linda
Krentz Jayne Ann Mroczne dziedzictwo 01 Miedziana plaża