market value of all final goods and services produced within a given period by the factors of production located within a country” (Case‚ Fair & Oster‚ 2008‚ p.105.). Essentially‚ GDP is a measure of production of an economy; that is‚ it measures its economic performance. Despite this‚ economists often use GDP statistics as an indication of social welfare. According to Case‚ Fair and Oster (2008) however‚ this may cause serious problems to arise. These problems are put forwards in the following limitations
Free Unemployment Inflation
Control of Population Growth by the Government Population growth is the increase in the number of people who live in a specific area. Population growth has a huge impact of economies‚ education‚ etc.‚ therefore the levels of population growth is a huge concern around the world. There have been a number of countries that have been encouraging the population to produce more offspring‚ such as Shanghai. However‚ these policies are just to motivate the population to have more babies and there are always
Free One-child policy Demography United States
Development Economics focus is on methods of promoting economic growth and structural change. The early proponents of development as a policy emerged with Keynesian Macroeconomics which encouraged the need for Government Intervention in order for economic growth to take place. This theory identified that fixed capital formation was a major source of economic growth and development. It also pointed out a need for a raise in domestic savings rate in the poor countries since savings led to investment
Premium Capital accumulation Economic development Investment
AND ECONOMIC GROWTH Nigeria as a developing economy cannot achieve full development without the contribution of the small and medium scale enterprises (SMEs). In most developed economies‚ the main stay of their economy has been attributed to the effectiveness of the small and medium scale enterprises (SMEs). Small and Medium Scale Enterprises (SMEs) is accepted globally as a tool for empowering the citizenry and economic growth. It has been associated with the rapid economic growth of countries
Premium Economic development Economic growth Investment
Development Economics Web Guide‚ Unit 5B The causes of economic growth in developing countries. The significance of economic growth for development · The role of both physical and human capital · Technological progress Examine the sources of economic growth and the extent to which they can be affected by government intervention. 15 Evaluation of the impact of government policies. Factors affecting economic growth in developing countries Keynesian Approaches 1 Savings and Investment There are
Premium Investment Capital accumulation Macroeconomics
Johann Philip Sanchez 11107052 CONADEV K34 Economic development has been influenced by four different major theories that talk about how change is best accomplished. The theories are the Linear Stages of Growth theory‚ the Structural Change theory‚ the Neoclassical Counter Revolution theory and the New Growth theory. The linear stages of growth model is something like the Marshall Plan‚ which was used to rebuild the war-torn countries of Europe after the war. This theory basically believes
Premium Economic development Third World Economic growth
characteristics of Economic Development A country or a society’s economic development is usually associated with rising incomes and related increases in consumption‚ savings‚ and investment. Surely‚ there is far more to economic development than income growth; for if income distribution is profoundly swerved‚ growth may not be conducted by much progress towards the aims that are usually connected with economic development. But what other characteristics are linked with economic development? Low
Premium Monetary policy Investment Unemployment
In an ever-increasing world of competition‚ organizations today must have strategies in place responding to trends in population growth and diversity that could have an impact on an organization ’s ability to plan‚ organize‚ lead‚ and control. Some factors to be considered include; vendor relationships‚ population growth‚ diversity‚ lawsuits‚ one stop shopping‚ and overcoming barriers to new cultures. Wal-Mart is a huge corporation whose operations are heavily scrutinized by the media‚ the public
Premium Wal-Mart Discount store Class action
HIGH POPULATION GROWTH RATE CAUSED BY: >High birth rate Improved health care It gives people a higher chance of survival. In African countries like TANZANIA‚ it is compulsory for all babies to be vaccinated.This vaccination protected the babies from certain disease and hence many lives are saved. It allowed women to led a healthier life‚ and hence prolong their child-bearing years. ESPECIALLY SIGNIFICANT
Free Population Demography Family
Economic development generally refers to the sustained‚ concerted actions of policymakers and communities that promote the standard of living and economic health of a specific area. Economic development can also be referred to as the quantitative and qualitative changes in the economy. Such actions can involve multiple areas including development of human capital‚ critical infrastructure‚ regional competitiveness‚ environmental sustainability‚ social inclusion‚ health‚ safety‚ literacy‚ and other
Premium Adam Smith Economics