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Economics 2.5.4 - Coggle Diagram
Economics 2.5.4
consumers
benefits
rising incomes and wealth
rising living standards
rising levels of happiness
improved quality of goods and services
costs
inflation
inequality
firms
benefits
increased sales leads to increased profits
new firms enter the market
innovation and investment into new technologies
costs
reduced competition
resource depletion
economies of scale
current and future living standards
benefits
living standards improve as healthcare and education improve
technological advancements improve efficiencies
costs
climate change is accelerated
the government
benefits
tax revenues rise
public investment
costs
inflation
the environment
costs
climate change is accelerated
benefits
investment into renewable technologies