I believe the answer is: Economic growth and equity Equity refers to achieving general welfare for other people in society. Dumping the waste into public water would most likely cut down the cost of waste management and improve economic growth.
What is the impact of economic security?
Economic security strengthens tolerance and happiness as well as growth and development. A new study by the International Labour Office (ILO) highlights that people’s economic security promotes personal well being, happiness and tolerance, while benefiting growth and development.
What are the three basic economic questions all societies must answer?
Because of scarcity every society or economic system must answer these three (3) basic questions:
- What to produce? ➢ What should be produced in a world with limited resources?
- How to produce? ➢ What resources should be used?
- Who consumes what is produced? ➢ Who acquires the product?
How are conflicts among economic goals resolved?
How are conflicts among economic goals resolved? Conflicts over economic issues are usually resolved by voters voting for the candidate that shares their views. The U.S. economic system is flexible, and it accommodates compromises that satisfy the majority of Americans.
How does economic growth relate to national security?
This, in turn, depends on long-term factors that contribute to economic growth and increase the total resource base available not only for defense but to provide economic security in the form of income and business opportunities for individuals. Economic growth depends on building human capital.
Is there a conflict between economic growth and environmental objectives?
There can be a strong conflict between economic growth and environmental objectives. Higher GDP leads to higher levels of pollution and consumption of non-renewable resources. However, it is possible to have economic growth without harming the environment.
Why is economic security important to the United States?
Economic security depends greatly upon (1) an economic growth rate sufficient to keep the rate of unemployment low and provide opportunities for entrepreneurs, (2) U.S. industries able to compete in international markets, and (3) U.S. leadership in science, technology, and innovation.
Which is an example of a macroeconomic conflict?
One macro-economic conflict can come between economic growth and inflation (which leads to a similar conflict between unemployment and inflation). If there is rapid economic growth, it is more likely that inflationary pressures will increase.
