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Cost of Economic growth, Extra money to replace obsolete equipment -…
Cost of Economic growth
Saving money
Important for individuals
People can save more for future
Important for society
To produce capital goods
It's necessary for economic growth
To meet economic needs
To produce consumer goods
To meet economic needs
labor must bring added value
Extra money to replace old tools
Investment in capital resources
Company can buy new equipment
Company expects future return
Economic growth
Advantages
Increases average standart of living
Keeps people employed
Provides more leisure time
Additional tax revenue
More educational programs
Water and air purification
Medical care
Highway constractions
National defense
Disadvantages
Natural resources can't be replaced
Generation of waste products
Destruction of natural environment
Uneven economic growth
Economic growth
In past
People improved their economic conditions
People felt optimistic about future
Now
Damage our world
Polluting air, land, waters
Using up natural resources
Resources that are necessary
People, capital and natural resources
Depend on one another
Necessary to save for future economic growth
Can provide solution to the problems with resources
Trade and borrowing are important
Extra money to replace obsolete equipment