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What's Good and Bad About Economic Growth?

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Jess ł

27/06/2023

Economics

macro economics OCR mindmap summary notes (GCSE)

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Economics

What's Good and Bad About Economic Growth?

The economic growth and macroeconomic factors affecting GDP and employment, with detailed analysis of benefits, disadvantages, and key economic indicators.

• Factors influencing macroeconomic growth include government spending, technological advancement, workforce size, and international trade dynamics
• The impact of government spending on GDP is significant through infrastructure projects like HS2 Rail and public services
• Economic growth benefits and disadvantages range from improved living standards to environmental concerns
• Key economic indicators include GDP, unemployment rates, and government objectives for stable economic growth
• Comprehensive analysis of unemployment types and their societal impacts

...

27/06/2023

358

Improve education! Allows same workeer to produce more good at higher value government spending ! HS2 Rail ↑ requining workers machine ander

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Page 2: Inequality and Unemployment Analysis

This section delves into the relationship between economic inequality and unemployment, examining their interconnected impacts on society and the economy.

Definition: Unemployment is measured through the claimant count, which records the number of people claiming unemployment-related benefits.

Highlight: Consequences of inequality include reduced employability, depression of skills, and poor education outcomes.

Example: Seasonal unemployment occurs in industries like farming and tourism, where work is only available during specific times of the year.

Vocabulary: Inequality of opportunity refers to the disparity in access to education and career advancement based on socioeconomic background.

Quote: "Increased poverty and welfare benefit dependency leads to extra demand on NHS due to stress."

Improve education! Allows same workeer to produce more good at higher value government spending ! HS2 Rail ↑ requining workers machine ander

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Page 3: Economic Indicators and Policy Objectives

[Note: No content provided for page 3]

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Page 4: Economic Growth and Development

[Note: No content provided for page 4]

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Subjects

Economics

 

Economics

•

358

•

30 Jul 2025

•

4 pages

What's Good and Bad About Economic Growth?

user profile picture

Jess ł

@jvzz

The economic growth and macroeconomic factors affecting GDP and employment, with detailed analysis of benefits, disadvantages, and key economic indicators.

• Factors influencing macroeconomic growth include government spending, technological advancement, workforce size, and international trade dynamics
• The impact of... Show more

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Page 2: Inequality and Unemployment Analysis

This section delves into the relationship between economic inequality and unemployment, examining their interconnected impacts on society and the economy.

Definition: Unemployment is measured through the claimant count, which records the number of people claiming unemployment-related benefits.

Highlight: Consequences of inequality include reduced employability, depression of skills, and poor education outcomes.

Example: Seasonal unemployment occurs in industries like farming and tourism, where work is only available during specific times of the year.

Vocabulary: Inequality of opportunity refers to the disparity in access to education and career advancement based on socioeconomic background.

Quote: "Increased poverty and welfare benefit dependency leads to extra demand on NHS due to stress."

Improve education! Allows same workeer to produce more good at higher value government spending ! HS2 Rail ↑ requining workers machine ander

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Page 3: Economic Indicators and Policy Objectives

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Page 4: Economic Growth and Development

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Page 1: Macroeconomic Growth and GDP Components

This page explores the fundamental aspects of economic growth and its various components. The content focuses on factors that drive economic growth and their implications for the broader economy.

Definition: GDP (Gross Domestic Product) represents the total value of goods and services produced within a country in one year.

Highlight: The GDP equation is composed of C (Consumption) + I (Investment) + G (Government Spending) + NX (Net Exports).

Example: Major components of the UK economy include finance and banking, IT, construction, manufacturing, and government services.

Vocabulary: Economic growth is measured as the percentage change in GDP over time.

Quote: "Economic growth benefits include rise in living standards, GDP increase leads to higher earnings."

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This apps acc the goat. I find revision so boring but this app makes it so easy to organize it all and then you can ask the freeeee ai to test yourself so good and you can easily upload your own stuff. highly recommend as someone taking mocks now

Paul T

iOS user

The app is very easy to use and well designed. I have found everything I was looking for so far and have been able to learn a lot from the presentations! I will definitely use the app for a class assignment! And of course it also helps a lot as an inspiration.

Stefan S

iOS user

This app is really great. There are so many study notes and help [...]. My problem subject is French, for example, and the app has so many options for help. Thanks to this app, I have improved my French. I would recommend it to anyone.

Samantha Klich

Android user

Wow, I am really amazed. I just tried the app because I've seen it advertised many times and was absolutely stunned. This app is THE HELP you want for school and above all, it offers so many things, such as workouts and fact sheets, which have been VERY helpful to me personally.

Anna

iOS user

Best app on earth! no words because it’s too good

Thomas R

iOS user

Just amazing. Let's me revise 10x better, this app is a quick 10/10. I highly recommend it to anyone. I can watch and search for notes. I can save them in the subject folder. I can revise it any time when I come back. If you haven't tried this app, you're really missing out.

Basil

Android user

This app has made me feel so much more confident in my exam prep, not only through boosting my own self confidence through the features that allow you to connect with others and feel less alone, but also through the way the app itself is centred around making you feel better. It is easy to navigate, fun to use, and helpful to anyone struggling in absolutely any way.

David K

iOS user

The app's just great! All I have to do is enter the topic in the search bar and I get the response real fast. I don't have to watch 10 YouTube videos to understand something, so I'm saving my time. Highly recommended!

Sudenaz Ocak

Android user

In school I was really bad at maths but thanks to the app, I am doing better now. I am so grateful that you made the app.

Greenlight Bonnie

Android user

very reliable app to help and grow your ideas of Maths, English and other related topics in your works. please use this app if your struggling in areas, this app is key for that. wish I'd of done a review before. and it's also free so don't worry about that.

Rohan U

Android user

I know a lot of apps use fake accounts to boost their reviews but this app deserves it all. Originally I was getting 4 in my English exams and this time I got a grade 7. I didn’t even know about this app three days until the exam and it has helped A LOT. Please actually trust me and use it as I’m sure you too will see developments.

Xander S

iOS user

THE QUIZES AND FLASHCARDS ARE SO USEFUL AND I LOVE THE SCHOOLGPT. IT ALSO IS LITREALLY LIKE CHATGPT BUT SMARTER!! HELPED ME WITH MY MASCARA PROBLEMS TOO!! AS WELL AS MY REAL SUBJECTS ! DUHHH 😍😁😲🤑💗✨🎀😮

Elisha

iOS user

This apps acc the goat. I find revision so boring but this app makes it so easy to organize it all and then you can ask the freeeee ai to test yourself so good and you can easily upload your own stuff. highly recommend as someone taking mocks now

Paul T

iOS user