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Economic growth - Coggle Diagram
Economic growth
Planning
To invest in capital reduction
To buy new equipment
Future returns
Justifying the purchase
To hire more help
To expand
Benefits and problems
Improving economic conditions
Continuing economic growth
Using up resources
To promote economic growth
To provide solutions to the problems
Pros
Mixed blessing
The average standard of living
Leisure time
Decreasing working hours
Additional tax revenues
Cons
Use of natural resources
Generation of waste products
Destruction of natural environments
Uneven growth of different groups in society
Long-range economic growth
To produce capital goods
To meet future economic needs
Continued production of capital goods
Contribution to the growth of capital resources
To replace old tools
Obsolete equipment
To cover wages
Global economy
Advances in transportations and communications
Trade and borrowing
To finance growth