1. Faster use of natural resourcesv contributes to depletion of these resources.
2. Opportunity cost - it may entail an investment of capital good which opportunity cost is current consumption foregone. The high level of economic growth aimed at,the higher the sacrifice of present consumption.
3. Economic growth may lead to technological unemployment.
Technological progress may make some jobs obsolete making some individuals unemployed.
4. It may be associated with negative externalities such as pollution and noise.
Jonmhumble answered the question on October 24, 2017 at 13:29
-
State and explain characteristics of modern economic growth.
(Solved)
State and explain characteristics of modern economic growth.
Date posted:
October 24, 2017
.
Answers (1)
-
State and explain the basic components of economic growth
(Solved)
State and explain the basic components of economic growth.
Date posted:
October 23, 2017
.
Answers (1)
-
Differentiate between economic growth and economic development
(Solved)
Differentiate between economic growth and economic development.
Date posted:
October 23, 2017
.
Answers (1)
-
Differentiate between actual economic growth and potential economic growth
(Solved)
Differentiate between actual economic growth and potential economic growth.
Date posted:
October 23, 2017
.
Answers (1)
-
State the properties of profit function
(Solved)
State the properties of profit function
Date posted:
October 23, 2017
.
Answers (1)
-
State the properties of expenditure functions
(Solved)
State the properties of expenditure functions
Date posted:
October 23, 2017
.
Answers (1)
-
State the properties of the indirect utility function
(Solved)
State the properties of the indirect utility function
Date posted:
October 23, 2017
.
Answers (1)
-
State and explain types of operation research tools
(Solved)
State and explain types of operation research tools
Date posted:
October 23, 2017
.
Answers (1)
-
Outline limitations of operation research
(Solved)
Required to provide five limitations.
Date posted:
October 23, 2017
.
Answers (1)
-
Outline the benefits of operation research
(Solved)
Outline the benefits of operation research
Date posted:
October 23, 2017
.
Answers (1)
-
What are the assumptions under ordinalist utility approach in economics?
(Solved)
What are the assumptions under ordinalist utility approach in economics?
Date posted:
October 22, 2017
.
Answers (1)
-
State and explain factors influencing price elasticity of demand
(Solved)
State and explain factors influencing price elasticity of demand.
Date posted:
October 22, 2017
.
Answers (1)
-
State and explain types of income elasticity of demand
(Solved)
State and explain types of income elasticity of demand.
Date posted:
October 22, 2017
.
Answers (1)
-
Explain the importance of planning in an organization
(Solved)
Explain the importance of planning in an organization.
Date posted:
October 22, 2017
.
Answers (1)
-
State and explain characteristics of monopoly type of market
(Solved)
State and explain characteristics of monopoly type of market.
Date posted:
October 22, 2017
.
Answers (1)
-
Outline advantages of free enterprise economic system
(Solved)
Outline advantages of free enterprise economic system.
Date posted:
October 22, 2017
.
Answers (1)
-
Outline the characteristics of centrally planned economic system
(Solved)
Outline the characteristics of centrally planned economic system.
Date posted:
October 22, 2017
.
Answers (1)
-
Outline the challenges of young population.
(Solved)
Outline the challenges of young population.
Date posted:
October 21, 2017
.
Answers (1)
-
Outline the problems associated with output approach as a way of measuring national income
(Solved)
Outline the problems associated with output approach as a way of measuring national income
Date posted:
October 21, 2017
.
Answers (1)
-
What are the sources of monopoly power?
(Solved)
What are the sources of monopoly power?
Date posted:
October 21, 2017
.
Answers (1)