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Why does economic growth raise household living standards?
A
More production usually creates more emissions, waste and pressure on land.
B
GDP records total output but says nothing about income distribution.
C
Economic sustainability means growth that can be kept going without depending on borrowing or running down the resources and capital it uses.
D
Higher average incomes let households buy more goods and services.
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3.1.6 Costs and benefits of economic growth Flashcards
27 flashcards on OCR GCSE Economics 3.1.6 Costs and benefits of economic growth: the key terms, formulae and calculations you need to recall for Component 01 and Component 02.