Definition: The environmental Kuznets curve suggests that economic development initially leads to a deterioration in the environment, but after a certain level of economic growth, a society begins to improve its relationship with the environment and levels of environmental degradation reduces. From a very simplistic viewpoint, it can suggest that economic growth is good for …
Economic growth means an increase in real output (real GDP). Therefore, with increased output and consumption we are likely to see costs imposed on the environment. The environmental impact of economic growth includes the increased consumption of non-renewable resources, higher levels of pollution, global warming and the potential loss of environmental habitats. However, not all …
Sustainable economic growth implies that the growth rate can be maintained over the long term. Sustainable growth involves both Environmentally sustainable growth – e.g. not exploiting scarce resources. Sustainable growth in terms of low inflation and a balanced economy. Sustainable economic growth The long-run trend rate of economic growth is the rate of economic growth …
Economic growth means an increase in real GDP – an increase in the value of national output, income and expenditure. Essentially the benefit of economic growth is higher living standards – higher real incomes and the ability to devote more resources to areas like health care and education. Video summary The benefits of economic growth …
Environmental sustainability is concerned with whether environmental resources will be protected and maintained for future generations. Issues of environmental sustainability Environmental sustainability is concerned with issues such as: Long-term health of ecosystems. Protecting the long-term productivity and health of resources to meet future economic and social needs, e.g. protecting food supplies, farmland and fishing stocks. …
Readers Question Q) evaluate the view that ‘trade-offs will be required over the period of the cycle’? In the economic cycle, there is often a trade-offs between different macroeconomic objectives. The main macroeconomic objectives include: Low inflation Higher economic growth Low unemployment Low current account deficit Low government borrowing Stable exchange rate. For example, if the …
Due to lack of space in the book, we have published full bibliography on this website. Bibliography Chapter 1 Is it OK to be selfish? Frank, R H (1988) Passions Within Reason: The Strategic Role of the Emotions, p. xi. New York: W W Norton & Co. Galbraith, J K (1982) “Recession economics”, The New …
I have spent past few weeks working on the new OCR A Level in economics revision guide. (H460) First teaching from Sept 2015. First A level exam Summer 2017. On the positive side, the syllabus is very detailed. OCR are very clear on what you need to cover. After doing AQA and Edexcel revision guides, …