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What are the implications of the sustainability in economic growth?
Implications of the sustainability in economic growth:
Moving in the direction of sustainable development requirements radical changes in producer, consumer and governmental patterns of production and consumption,
• Cleaner production methods that use resources more efficiently and decrease negative externalities for example micro-enterprises that use appropriate technologies
• Simpler lifestyles and consumption habits which use energy less wastefully and diminish pollution, especially into the developed world. For illustration: use public transport and not cars.
QUESTION (a) Explain the 3 different ways of calculating national income. (b) Does the National Income figure accurately reflect the living standard of a population? Discuss
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What are the major problems in measuring national income? The major problems in measuring national income: a. Unreliable statistics data collection is costly and the figu
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