EconomicsCode 9708
Economic growth and sustainability
What this topic asks you to be able to do
- the difference between the actual and the potential growth of national output
- output gaps that are positive and those that are negative
- the business (trade) cycle: its phases; the causes behind the cycle; the function of automatic stabilisers
- policies that aim to promote economic growth, and how well they work
- inclusive economic growth: its definition; the effect economic growth has on equity and equality; policies aimed at advancing inclusive growth
- sustainable economic growth: what it means; using resources and conserving them; how economic growth affects the environment and climate change; and policies designed to lessen those effects