Question on: JAMB Economics - 2012
The primary reason for desiring economic growth is to
A
control inflation
B
reduce poverty
C
redistribute income
D
raise standard of living
Ask EduPadi AI for a detailed answer
Correct Option: C
The primary goal of economic growth is to improve the overall well-being of the population. This is achieved by raising the standard of living, which includes:
* Increased income.
* Access to better goods and services.
* Improved healthcare and education.
While economic growth can contribute to reducing poverty (B) and potentially help with income redistribution (C), and can be impacted by inflation (A), the overarching and most direct result is an elevated standard of living.
Add your answer
Please share this, thanks!
No responses