ENTREPRENEURIAL OPPORTUNITIES
IDENTIFYING AND EVALUATING BUSINESS OPPORTUNITIES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The population growth rate in South Africa is higher than the economic growth rate. This means that ____
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There are more people born than jobs created.
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The country is getting poorer as a nation in real terms.
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There is no economic activity taking place in South Africa.
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There are fewer people without jobs.
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Explanation:
Detailed explanation-1: -Answer: The economic term for this situation is the population explosion. The increase in population is faster than the economic development which shows the complex relationship between the population and economic development.
Detailed explanation-2: -Economic growth refers to an increase in the size of a country’s economy over a period of time. The size of an economy is typically measured by the total production of goods and services in the economy, which is called gross domestic product (GDP). Economic growth can be measured in ‘nominal’ or ‘real’ terms.
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