ECONOMICS
TECHNOLOGY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Economic growth always improve one’s living standard.
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True
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False
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Either A or B
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None of the above
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Explanation:
Detailed explanation-1: -Economic growth provides the basis for overcoming poverty and lifting living standards. But for growth to be sustained and inclusive, its benefits must reach all people. While strong economic growth is necessary for economic development, it is not always sufficient.
Detailed explanation-2: -The answer to this question is C. Economic growth is a long-run process resulting from the compounding of many events.
Detailed explanation-3: -Understanding Standard of Living Standard of living focuses on basic material factors such as income, gross domestic product (GDP), life expectancy, and economic opportunity.
There is 1 question to complete.