Question

prepare a chart showing the importance of economic growth​

Answer 1

Answer:

Economic Growth is important because it is the means by which we can improve the quality of our standard of living . It also enables us to cater for any increases in our population without having to lower our standard of living.

Answer 2

Economic growth welfares the nation in multiple ways.

Explanation:

• Here are the benefits of economic growth:

• When the economy grows, it reduces the poverty of the nation, which in turn increases the standard of living.

• The economic growth of the country increases the investment rate.

• The economic growth leads to higher tax revenue for the government, which further increases the public service for the people.

• The economic growth of the country reduces the debt to GDP ratios.