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one one hand - depth of analysis (chain, application, evaluation)
on the other hand - depth of analysis (chain, applicaiton, evaluation)
judgement
Economic growth is the increase in the increase in real national output. It can be measure by GDP, which is gross domestic product and it measures the increase in the amount of output produced in a particular time period usually one year.
Economic growth can be beneficial to an economy because it causes an increase in the material standards of living. The reason for this is that economic growth is linked to increased stimulation in the economy via spending. If there is greater spending in the economy by consumers it means the firms will be able to sell more goods and services and therefore increase in incomes. This leads to increase in material levels of income.
However this benefit may not be exploited well. This can be due to income inequality.
Along with higher material living standards, you will also see a reduction in unemployment with similar reasoning to an increase in living standards.
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