Question

1. explain with examples three main benefits of economic growth.
2. mention and explain causes of economic growth.
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Answer 1

1 Benefits of economic growth:

1. Economic growth is very necessary for any nation, because it enhances the standard of living of all thr individuals.
2. economic growth is necessary for admission because it and shows that the basic requirement of all the individuals will fulfill.
3. economic growth is also important from the point of you to enhance the infrastructure,education , health, water, sanitation facility and many more.

2 main causes of economic growth

1. Human resources
2. Physical capital
3. Natural resource
4. Technology

all of the above 4 factors are the key factors that lead to increase in the growth of a nation.

human resources are also referred as a human education when it is improved it will lead to the growth of a nation.

Improve my human resources implies that all the people of country having better education, skills and trainings which will help them to gain a job

It also includest entrepreneurs, because they also play key role in nation's growth.

Physical resources includes the natural resources of country, output of the industries and some other resources which help in production.

Natural resources are the resources which are gifted from the nature tour country.

Technology also plays a key role in the growth of nation.

with the help of technology we can produce a large amount of the output to the minimum cost and minimum time