Definition Entrepreneurship, economists, politicians, community leaders and citizenship are usually interested in the economic growth of a country and how it affects business cycles in the end. Mohr et al. (2015:410) define economic growth as the annual rate of increase in the total production or income in the economy while Noel, T. P. (2012) refers economic growth as an increase in the productive capacity of an economy as a result of which the economy is capable of producing additional quantities of goods and services. The importance of economic growth From economists’ perspective, economists must be able to analyze a country’s current economic environment. Mohr et al.
His ‘dash for growth’ led to the Barber boom. Unfortunately, it also led to inflation and unsustainable growth (BBCNEWS, 1999). 3.3. Supply Side Policies Supply side policies refer to the policies that are design to increase the rate of the economy growth in a long run by improving the productivity and efficiency of the
As I illustrated up in my paper since 90’s the economic development of developing countries in East Asia were demonstrated although the economic growth was happening, but it plays mainly in the social development. The quick movement in the economic growth makes inefficient effects on environment and resources, however, the economic growth is not based only on good environmental system, ineffective investment, different marketing misrepresentations and prevailing corruption will come to the poverty population as it will be depressed of the ability and chance to participate marketing activities and political decision-making. So we have to carefully survey the complex relationship between the economic growth and poverty
Population education is a study programme designed to help people understand the nature, causes, and consequences of population events by analyzing population situations at family level, community, nation, and the world at large. In this perspective; a) Elucidate on how rapid population growth is affecting the quality of life by categorizing the repercussions in each of the following aspects; i) Economic life Economic development is closely correlated with urbanization. No country has ever reached high income levels with low urbanization thus rich countries are urban countries. Population growth increases density and, together with rural-urban migration, creates higher urban cluster. And this is critical for achieving sustained growth because
Inflation: Inflation is the rate at which the general level of prices for goods and services is rising and, consequently, the purchasing power of currency is falling. GDP: Gross domestic product is the best way to measure a country's economy. GDP is the total value of everything produced by all the people and companies in the country. Dependent Variable Bank Performance: Bank performance may be defined as the reflection of the way in which the resources of a bank are used in a form which enables it to achieve its objectives. ROE: A measure of profitability that calculates how many dollars of profit a company generates with each dollar of shareholders.
To the developing countries those within that broad category, especially to those with major employment and income distribution SMEs are very crucial. In addition to developing countries SMEs are important to almost all economies in the world. In many countries, SMEs are the key actors in generating well-brought-up employment in most developing countries involves the expansion of this sector fast enough to absorb people previously unemployed (a few) or engaged in low productivity informal sector jobs and the majority of jobs are provided by SMEs, In low-income countries, especially where the informal sector is large, but it is still significant. The SME sector’s contribution to GDP also confirms its economic importance. In high-income countries,
INTRODUCTION One country, increasing the amount of scarce resources or to have their limit the expansion of production facilities by improving their quality or production technology go to higher production levels and changing the institutional framework "Economic growth" is expressed. Economic growth, but also to raise real GDP per capita can also be defined as the continuous increase of production factors. Resources have greatly improved and highly industrialized the first and most important issue is to ensure the full operation of those resources for the country. Undeveloped industrialized countries achieving economic growth comes first of all problems and their positive whether you can connect to the solution is greatly affected. However,
Economic growth is the most dominant channel for minimizing poverty and refining the standard of life in developing countries. In late years the association between economic growth and financial development has become a matter of large examination. On exchange of views, the nature of casualty between the two was acknowledged. In contrast, a common concept expresses that the development of the financial sector is anticipated to have a positive impact on economic growth. Equally, there is a sequence succeeding the opinion which states that economic growth encouraged the progress of the financial sector.
In turn, as individual income, savings, and investment rise, more resources become available that can boost productivity. Problem: How the rapid growth rate of population globally impact on the environment? Discuss the challenges for sustainable development. Problem statement: The growing population is one of the rising global challenge and has direct impact on sustainability development. Today, the planet had already overloaded because of growing population and there is no doubt that human is the only contributor for environmental imbalances.
Economic Growth Labour, Capital and Technology are three essential ingredients for economic growth. Economic growth is a function of these three variables. The population of a country is the primary determinant of its labour force and determines the size of the economy in the long run. Capital has been the main factor that led to the emergence of modern economies, and it became affordable with the advent of large banks in the 19th century. It enabled easy mobilization of savings for investment in big industrial projects.